Do you really think clients hire you for your model portfolios and fund selection? Because according to 2,568 online reviews from actual clients, they don’t.
In a brilliant deep-dive study from Brian Thorp and the team at Wealthtender, we finally have the data to prove what many of us have long suspected: financial planning is personal, emotional, and deeply human. Investment returns may get headlines, but it’s trust, communication, and genuine care that steal the spotlight in client reviews.
Here’s what the study uncovered and why it should change how your firm thinks about growth, retention, and marketing.
1. The Feelings Are Real: 86% of Reviews Were Overwhelmingly Positive
Let that sink in, 86%. Not your average NPS score, but a surge of clients saying, “I felt calm, confident, and understood.”
The reviews had gold stars but the real value was in the stories. At 86 words on average, these weren’t quick compliments. They were personal reflections.
Would you like a version with a slightly more formal tone?
2. Less Than 1 in 10 Reviews Focused on Investments
You read that right. Just 10%.
The rest? They raved about:
- Personalized planning (38%)
- Long-term relationships (13%)
- Trust and emotional security (12%)
- Communication, education, and responsiveness (8%)
- Feeling empowered and informed (7%)
- Family and legacy conversations (3%)
This data is a wake-up call: Advisors who lean into financial planning as a human experience not a technical service win.
3. Clients Mention Advisors by Name 25x More Than the Firm
People don’t gush about a logo. They write about you, the person who picked up the phone during a market panic or sat through a two-hour meeting helping their aging parent navigate long-term care options.
If you lead a firm, this is your cue: support your advisors as your best brand ambassadors. The firms that empower individuals to collect and showcase client reviews are earning the attention (and trust) of prospective clients at a higher rate than their competitors. Especially those stuck in outdated compliance quicksand.
4. Stories Drive Trust. Stars Boost SEO. You Need Both.
Wealthtender’s analysis also showed that the longest reviews (150+ words) were emotionally charged, detailed, and felt like case studies. They weren’t just checkboxes they were advocacy.
That’s marketing gold. And yes, it’s all 100% compliant under the SEC Marketing Rule when done right.
5. If You’re Not Asking for Reviews, You’re Falling Behind
Wealthtender didn’t pull this from Yelp. These reviews came directly from clients of advisors who asked. And no surprise firms proactively gathering testimonials are gaining ground over national brands still acting like it’s 2009.
So if your firm doesn’t allow reviews, ask yourself: what’s the cost of silence? Because your competitors are being loud and they’re getting hired because of it.
The Big Picture
Clients aren’t choosing you because you beat the benchmark. They’re choosing you because you made them feel safe, seen, and supported through the messiness of life.
Brian Thorp and the Wealthtender team did us all a favor by compiling this Voice of the Client Study.
If you're serious about growing your business in a trust-based profession, don’t ignore this.
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