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.
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to Devoe & Company.
Also, Advisor CRM announces a new data integration partnership to ease the pain of client onboarding.
Meanwhile, Merrill Lynch intends to continue building its alternative investment platform for wealthy clients.
The co-founder of IFG discussed with InvestmentNews the unique opportunity that remaining independent offers to build a successful firm.
Three industry leaders will join the hybrid RIA's president and LPL alum, Andy Kalbaugh, to help guide its organic and merger-based growth strategy.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
