Financial advisers can grow a practice with social media, but every post that promotes your services can count as an advertisement under US rules. Get the compliance basics right and educational video becomes one of the best ways to build trust with prospects.
The short answer: work with your compliance team, keep content educational and fair and balanced, follow the SEC Marketing Rule (Rule 206(4)-1) if you’re a registered investment adviser and FINRA Rule 2210 if you’re with a broker-dealer, archive your business communications, and never promise returns.
Note: this is general information, not legal or compliance advice. Your firm’s compliance department has the final say.
The rules that apply
| Rule | Who it applies to | Key points for social media |
|---|---|---|
| SEC Marketing Rule 206(4)-1 | SEC-registered investment advisers | Testimonials and endorsements are allowed with disclosures (client or not, compensated or not), oversight and disqualification checks; no misleading claims; fair and balanced treatment of risks |
| FINRA Rule 2210 | FINRA member firms and their reps | No false, exaggerated, promissory or misleading statements; testimonial disclosures; supervision and recordkeeping |
| FINRA Regulatory Notice 17-18 | FINRA members | Guidance on social media, third-party comments and hyperlinks |
The SEC adopted the amended marketing rule in December 2020, with a compliance date of 4 November 2022.
Content that builds trust
- Explain concepts: Roth vs traditional accounts, how fees work, what a fiduciary is.
- Answer common client questions in plain language.
- Walk through life events: selling a business, inheritance, retirement timing.
- Debunk myths without making return promises.
- Show your process for working with clients.
A compliant workflow
- Plan topics monthly and share them with compliance early.
- Write scripts and get approval before filming.
- Record in batches.
- Submit final videos for review.
- Publish through approved channels with archiving in place.
- Keep a record of approvals.
What to avoid
- Promising or implying returns.
- Cherry-picked performance.
- Testimonials without required disclosures.
- Personal recommendations in public comments.
- Using personal accounts for business without approval.
Want it done for you?
HustleGrowthz runs short-form video for advisers, coaches, consultants and founders. We research your market, write 30 scripts a month in your voice, edit and publish them on Instagram, TikTok, YouTube Shorts and Facebook, and set up comment-to-DM follow-up that qualifies interested viewers. You record for about an hour a week. It costs $999 a month or $5,999 a year (pricing). See content for professional services or book a free strategy call.
Frequently asked questions
Can financial advisers use testimonials on social media?
Under the SEC Marketing Rule, registered investment advisers can use testimonials and endorsements with required disclosures, oversight and disqualification checks. FINRA Rule 2210 has its own testimonial requirements for broker-dealers. Check with compliance.
Does social media count as advertising for financial advisers?
Posts that promote your advisory services or products are generally treated as advertising or communications with the public and must follow SEC or FINRA rules, including recordkeeping.
What should financial advisers post?
Educational content: explaining concepts, answering common questions, life events and your process, without promising returns.