Partners in Prospecting

Do you want to know a secret? 5 Simple Steps to Creating Great Testimonials

July 31, 2019

I worked with an Advisor that was great at getting referrals from clients and this kept his pipeline moderately full. He decided to invest in upgrading his website to attract more new business. The site was excellent – it told a good story about his background and he provided a lot of interesting articles about investing. BUT – he wasn’t generating net new clients. I noticed he didn’t have testimonials on his site and I mentioned that 84 Percent of People Trust Online Reviews As Much As Friends.

The testimonials help you to establish credibility and act like word of mouth when potential clients do their research. If you don’t have an active site, I recommend you continuously collect testimonials so you have them available as part of your marketing package.

Step One

The way to obtain testimonials is to ask existing clients to recall why they became your clients in the first place and then why they have remained clients. Take the opportunity to tell them what you think your strengths are and see if they agree. I recommend that you approach this step as an interview process and ask the client’s permission to take notes. The Advisor I worked with simply asked his clients at the same time he was asking for referrals and it quickly became his habit.

Step Two

People today are too busy to write their own testimonials. It is best to write a summary of what they told you and send it to them for their approval. We found we had excellent responses to this approach.

Step Three

Write the testimonial using the client’s own words. For example:“I approached Joe for help when I was worried that I wasn’t making the right investment choices to fund my retirement. Joe calmed me down by showing me exactly how much I required and what I needed to invest in to make my retirement a reality. Now, two years later, I am ready to take that next big step in my life with Joe as my investment partner.”

Step Four

Ensure you have a variety of testimonials by dividing them up into specific categories. For example:

  • Experience and Expertise
  • Help at Every Stage
  • Exceptional Customer Service
  • Proven Success (make sure that all your data is substantiated and confirm with compliance it can be used)
  • Holistic Approach to Investing
Step Five

It is imperative you have client permission to use all testimonials. Tell your compliance team when a testimonial is solicited as it impacts your disclosure. Your compliance team should review and approve any testimonials for use.*

Note: There is a song title in this blog post. Did you find it?

About Jennifer Kuta

For more than 25 years, I have worked with Advisors helping them build their businesses. My commitment to you is to partner with you in your practice and offer solutions to help build your business.

*Refer to OSC staff notice 33-747 page 34-35 for guidance. 
Investment involves risk, uncertainty and assumptions. The value of investments rise and fall and there is a risk you may not recoup the amount originally invested. Past performance is not a reliable indicator of future performance. 
The contents of this blog are the personal views of the author and not necessarily the views of Caldwell Investment Management Ltd. The views expressed, while based on current market conditions and information, they are subject to change without notice and as such, there can be no assurance that actual results will not differ materially from such expectations. The comments are an illustration of broader themes and intended to be for general information purposes only. 
Forward-looking statements are not guarantees of future results as they involve uncertainties and assumptions; there can be no assurance that actual results will not differ materially from expectations. 
The contents are provided as general in nature and should not be relied upon nor construed to be the rendering of specific tax, legal, accounting or professional investment advice. Readers should consult with their own accountants, lawyers and/or financial advisors for advice on their specific circumstances before taking any action. 
The information contained herein is from sources believed to be reliable, but accuracy cannot be guaranteed. No representations or warranty, expressed or implied is made by Caldwell Investment Management Ltd. or its affiliates.

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Vice President, Business Development and Sales

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