RIA Client Testimonials under SEC’s New Marketing Rule


During this webinar our Senior Compliance Consultants discussed how the SEC’s New Marketing Rule addresses RIA client testimonials.

This webinar was presented live on Thursday, June 24, 2021 at 12:00 PM CST.


During this webinar our Senior Compliance Consultants discussed how the SEC’s New Marketing Rule addresses RIA client testimonials. Click here to read the SEC’s final rule release for its new marketing rule for investment advisers.

This webinar was presented live on Thursday, June 24, 2021 at 12:00 PM CST.

Related Resources

Updating Solicitor Arrangements under SEC’s New Marketing Rule

SEC’s New Marketing Rule – Session 1 – Advertising

SEC’s New Marketing Rule – Session 2 – Solicitations

SEC Adopts New Marketing Rule for Investment Adviser Advertising and Solicitation

SEC Rule Release covering RIA advertising, solicitations and RIA client testimonials

SEC Marketing Rule Background

On Dec. 22, 2020 the Securities and Exchange Commission announced it had finalized reforms under the Investment Advisers Act to modernize the SEC’s marketing rule that govern investment adviser advertisements and payments to solicitors.

RIA Client Testimonials - SEC Building

Washington DC, USA – SEC Building

The amendments create a single rule that replaces the current advertising and cash solicitation rules. The final rule is designed to comprehensively and efficiently regulate investment advisers’ marketing communications.

The rule replaces the current advertising rule’s broadly drawn limitations with principles-based provisions designed to accommodate the continual evolution and interplay of technology and advice, and includes tailored requirements for certain types of advertisements. For example, the rule will require advisers to standardize certain parts of a performance presentation in order to help investors evaluate and compare investment opportunities, and will include tailored requirements for certain types of performance presentations. Advertisements that include third-party ratings will be required to include specific disclosures to prevent them from being misleading. The rule also will permit the use of RIA client testimonials and endorsements, which include traditional referral and solicitation activity, subject to certain conditions.


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