A new study released by Wealthtender reveals that Americans overwhelmingly value the human touch in financial advisory relationships, with investment performance taking a back seat to trust and personalized planning.
The 2025 Voice of the Client Study, which analyzed 2,568 online reviews of financial advisors published between May 2021 and April 2025, found that 86% of client reviews expressed strongly positive sentiment, highlighting widespread satisfaction with advisory services.
Perhaps most striking, only one in 10 reviews focused on investment management or portfolio strategy. Instead, 89% centered on relationship quality, planning advice, and emotional factors.
Clients overwhelmingly expressed deep appreciation for advisors who prioritize long-term planning, communication, and the human side of wealth management over investment strategy and portfolio management, suggesting the latter represent table stakes perhaps viewed as commoditized among mass affluent Americans,” the report noted.
The data shows that personalized financial planning ranked as the top value driver, mentioned in 38% of all reviews. Long-term relationships (13%) and trust/peace of mind (12%) rounded out the top three themes, further emphasizing the relational aspects of financial advice.
Clients are also leaving feedback that is notably longer. The average review contained 86 words, with many clients writing detailed, story-like testimonials that reflect deep emotional investment in their advisory relationships.
“Many reviews read more like mini case studies or letters of recommendation than simple comments, reflecting the deep trust clients place in their advisors,” the report noted.
Another revealing finding: clients are nearly 25 times more likely to mention their advisor by name than just the firm, underscoring the deeply personal nature of the advisor-client relationship.
The study suggests that financial advisors who focus on building trust through personalized service, clear communication, and emotional support are more likely to earn client loyalty than those who emphasize investment returns.
For wealth management firms, the implications are clear: advisors serve as brand ambassadors, and their individual relationships with clients drive overall perception of the firm's value.
As online reviews continue to influence consumer decision-making, with more than 80% of consumers reporting that reviews play an important role when evaluating financial service providers, the study highlights an opportunity for advisors to showcase authentic client feedback as a competitive advantage.
Wealthtender plans to update the study in 2026 as more advisory firms embrace compliant testimonial marketing strategies under the SEC's Marketing Rule, which lifted the 60-year prohibition on client testimonials in May 2021.
Limra data shows RILAs and variable annuities outperforming, while fixed-rate deferred sales lag their 2024 highs.
The S&P 500's longest rally in more than 20 years came amid evidence of labor market resilience in the immediate wake of April's Liberation Day tariffs.
With membership in the "century club" expected to quadruple in three decades, joint studies from Nationwide and the TIAA Institute shed new light on people's planning blind spots.
The Watchman Group's Andrew Herzog has noticed his more left-leaning clients have been "looking to get out of the stock market, perhaps do more fixed income or go to cash" while his right-leaning clients are more comfortable keeping assets as they have them.
As you work with clients to navigate the current markets, stay grounded in their values and priorities.
From direct lending to asset-based finance to commercial real estate debt.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
