In today’s competitive landscape, digital advertising offers wealth managers an incredible opportunity to reach high-value clients with precision and scale. However, the rules governing this space are not only strict—they’re constantly evolving. For those in wealth management, a misstep in compliance can mean more than wasted ad spend—it could lead to regulatory scrutiny or reputational damage. That’s why a well-prepared digital advertising strategy isn’t just smart—it’s essential.

In this blog, we’ll walk you through a complete checklist to help wealth managers prepare for launching compliant and effective digital advertising campaigns. From getting your testimonials reviewed to preparing ad copy that won’t land you in legal trouble, consider this your go-to guide.

To learn more about the foundational marketing rules for wealth managers, check out the guide on marketing compliance for wealth managers.

1. Understand SEC and FCC Rules on Testimonials and Endorsements

Testimonials and endorsements are powerful social proof, but in the wealth management industry, they must meet strict SEC regulations under the Investment Advisers Act Rule 206(4)-1 (also known as the Marketing Rule). You cannot just copy and paste a Google review into your Google Ads and call it a day.

Checklist:

• Ensure all testimonials are from real clients, with documented proof.
• Avoid misleading language or exaggerations.
• Clearly disclose if the person giving the testimonial received any incentive.
• Provide context about results so they’re not misleading.
• Include links to disclosures and detailed performance data, where applicable.

Work with your compliance team or legal counsel to get testimonials approved for public display, particularly in paid digital ads.

2. Have Performance Numbers That Are Fully Substantiated

It’s tempting to highlight portfolio performance in your ad copy but be careful. The SEC requires any performance claims to be clearly defined, verifiable, and not misleading.

Checklist:

• Use net-of-fees performance data.
• Reference specific time periods (e.g., “3-year average return from 2020–2023”).
• Include performance disclosures: market conditions, risk factors, and client profile.
• Avoid cherry-picking best-performing portfolios unless you show all relevant data.

When in doubt, offer general outcomes rather than specific percentages. Consider linking the ad to a webpage that provides full disclosures.

3. Appoint a Compliance Expert or Reviewer

Every wealth management firm is unique—what’s compliant for one firm may not apply to another due to services offered, licensing, or client profile. That’s why it’s crucial to have a subject matter expert (SME) or compliance officer review every piece of ad copy before it goes live.

Checklist:

• Appoint an internal compliance officer or hire a consultant.
• Review each ad’s content, keywords, and landing page for alignment.
• Document all review processes for audits.
• Keep a record of every ad variation, its run dates, and any client feedback.

This added step might slow your ad production slightly, but it significantly reduces your compliance risk.

4. Define Your Advertising Goals and KPIs

Digital advertising can target awareness, lead generation, or direct conversions. Defining your objectives helps you choose the right messaging, platforms, and campaign structure while remaining compliant.

Checklist:

• Clarify whether your goal is brand awareness, appointment booking, or content downloads.
• Determine KPIs (e.g., cost per lead, conversion rate, ROAS).
• Ensure that calls-to-action (CTAs) align with client needs and compliance policies.

Avoid aggressive CTAs like “Guarantee Your Retirement!” which could trigger scrutiny. Instead, use softer, compliance-safe language like “Talk to an Advisor Today” or “Explore Your Retirement Options.”

5. Select The Right Digital Platforms and Ad Types

Not all platforms are created equal when it comes to compliance. Google Ads, Facebook, and LinkedIn all offer powerful targeting tools, but each comes with its own restrictions around financial content.

Checklist:

• Use Google Ads for keyword-based targeting with compliant ad extensions.
• Choose Facebook/Meta only if you have strong audience filters and approval flows.
• Use LinkedIn for B2B targeting—ideal for wealth managers focusing on executives and professionals.
• Avoid programmatic display unless you have a strong compliance workflow in place.

Before advertising, read each platform’s advertising policy on financial services to avoid disapproval or account suspension.

6. Set Up A Dedicated Landing Page with Disclosures

A compliant ad needs a compliant landing page. Redirecting traffic to your homepage won’t cut it. Instead, build a specific landing page that aligns with your ad messaging and contains all necessary disclosures.

Checklist:

• Match the tone and message of the ad to avoid “bait-and-switch” issues.
• Include all required risk disclaimers and performance disclosures.
• Have clear navigation, terms of service, and privacy policy.
• Use HTTPS for security and credibility.

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7. Use Compliant Keywords and Targeting Criteria

When running Google Ads, your choice of keywords matters just as much as the ad text. Targeting “Guaranteed Wealth Growth” is not only misleading—it could get your ad flagged.

Checklist:

• Avoid prohibited phrases like “guaranteed,” “no risk,” or “safe returns.”
• Use educational keywords: “retirement planning,” “fiduciary advisor,” or “financial advisory near me.”
• Geo-target by region, especially if your firm is only licensed in certain states.
• Use negative keywords to avoid irrelevant or risky clicks.

Test your keyword list using Google’s Ad Preview Tool before launching.

8. Prepare Your Tracking and Reporting Infrastructure

Compliance doesn’t stop once the ad is live. Ongoing tracking and reporting ensure that performance is monitored and changes are well-documented for audits.

Checklist:

• Set up Google Tag Manager and Google Analytics with proper goals and filters.
• Track every lead or call via UTM parameters.
• Export weekly or monthly ad reports for internal compliance documentation.
• Archive screenshots of ads and landing pages to show what was shown and when.

The better your reporting system, the easier it is to remain transparent with regulators and clients alike.

9. Educate Your Sales Team About The Ads

A big compliance risk comes not just from the ad but from what happens after. If your sales team makes unsubstantiated claims or contradicts the ad’s message, it could result in complaints or enforcement actions.

Checklist:

• Share ad copy and messaging with the sales team.
• Train them on how to answer ad-related inquiries compliantly.
• Keep communication logs between your team and new leads.
• Create a standard email or call script if needed.

Consistency across all client-facing communication strengthens your brand and helps avoid misrepresentation.

10. Conduct A Pre-Launch Compliance Review

Before launching your first campaign—or every time you update a campaign—run a pre-launch compliance review. Think of it as a dress rehearsal where everything gets checked before going live.

Checklist:

• Review ad copy, landing pages, images, disclosures, and targeting.
• Cross-check against the latest SEC/FCC guidelines.
• Have a third-party review, if available.
• Keep a sign-off checklist with timestamps and approver names.

Final Thoughts

Digital advertising offers wealth managers unprecedented access to their ideal clients, but it comes with a heavy responsibility to remain compliant. By following this checklist, you’ll be able to launch high-performing campaigns that don’t just generate leads but also pass regulatory scrutiny.

To dive deeper into wealth management marketing best practices, be sure to read this guide:

Marketing Compliance for Wealth Managers Explained

And if you’re looking to launch a compliant, beautifully designed website fast, consider this solution:

Website Program for Wealth Managers

With the right foundation, compliance isn’t a barrier—it’s your competitive edge.