The SEC gave advisors permission to use client testimonials in their marketing more than four years ago. Many still haven't. Gregory President Joe Anthony explains why, and why that may finally be shifting.
In a Financial Planning article, Anthony points to a persistent problem: differing state regulations have created enough uncertainty to make many firms reluctant to act. NASAA's new model rule, approved last week, is designed to close that gap. Anthony sees it as an inflection point. "This should remove some of the impediments, at least psychologically," he told Financial Planning, predicting the move could drive a wave of testimonial adoption over the next decade.