Financial Marketing Glossary

Financial Disclaimer Examples

Financial disclaimer examples show what a compliant disclosure needs for a given content type, such as general education, performance data, or client testimonials.

Finfluencer

Financial influencer

A finfluencer is a social media creator who promotes financial products or services, triggering FTC disclosure rules and, if paid by a securities issuer, SEC anti-touting requirements.

FINRA Advertising Rules

FINRA advertising rules are the FINRA rule set, centered on Rule 2210, that governs how broker-dealers communicate with the public and institutions.

FINRA Rule 2210

Rule 2210, FINRA 2210, Communications with the Public

FINRA Rule 2210 governs how broker-dealers communicate with the public. It sorts every written communication into three categories, each carrying a different approval, filing, and recordkeeping burden.

FINRA Rule 2241

Research Analyst Rule, Research Analysts and Research Reports

FINRA Rule 2241 requires firms to wall off equity research analysts from investment banking and sales influence over research content.

FINRA Rule 3220

Gifts Rule, Influencing or Rewarding Employees of Others

FINRA Rule 3220 caps gifts to a customer's or counterparty's employee at $300 per person per year, up from $100 before March 2026.

FINRA Social Media Rules

Social Media Guidance, Regulatory Notice 11-39

FINRA treats static social media content as a retail communication needing principal approval before use, and unscripted interactive content as a retail communication exempt from pre-approval under Rule 2210(b)(1)(D)(ii), supervised instead like correspondence.

Form ADV

ADV, Investment Adviser Registration Form, SEC Form ADV

Form ADV is the registration form investment advisers file with the SEC or state regulators. Part 2A, the brochure, is the plain-English disclosure clients receive before signing an advisory agreement.

Form ADV Part 1

ADV Part 1, ADV Part 1A, Form ADV Part 1B

Form ADV Part 1 is the checkbox-format section of Form ADV that reports an adviser's business, assets under management, ownership, and disciplinary history to regulators.

Form ADV Part 2A

ADV Part 2A, Firm Brochure, Investment Adviser Brochure

Form ADV Part 2A is the plain-English brochure investment advisers must deliver to clients, covering fees, services, conflicts of interest, and disciplinary history.

Form ADV Part 2B

ADV Part 2B, Brochure Supplement

Form ADV Part 2B is the brochure supplement disclosing the education, business background, and disciplinary history of the specific people who advise a client.

Hypothetical Performance

Backtested performance

Hypothetical performance is investment performance not actually achieved by any client account, including backtested, model, and projected returns, and it carries its own SEC marketing restrictions.

Institutional Communication

An institutional communication is a written FINRA member communication distributed only to institutional investors, excluding a firm's internal communications.

Investment Adviser Marketing Rule

Rule 206(4)-1, Marketing Rule

The Investment Adviser Marketing Rule is the SEC's formal name for Rule 206(4)-1, which governs advertising by registered investment advisers, not broker-dealers.

Past Performance Disclaimer

A past performance disclaimer is the required language accompanying historical return data, covering gross vs. net figures, the time period, and that past results don't guarantee future ones.

Registered Principal

General Securities Principal, Series 24

A registered principal is a FINRA-licensed supervisor, typically Series 24, authorized to approve retail communications before they go public.

Retail Communication

A retail communication is any written (including electronic) FINRA member communication distributed or made available to more than 25 retail investors within any 30 calendar-day period.

SEC Marketing Rule

Rule 206(4)-1, Advisers Act Marketing Rule, Marketing Rule

The SEC Marketing Rule governs how registered investment advisers advertise. It replaces the old advertising and cash solicitation rules with seven prohibitions plus extra requirements for testimonials, endorsements, and ratings.

SEC Rule 17a-4

17a-4, Books and Records Rule

SEC Rule 17a-4 requires broker-dealers to preserve business communications, including social and video content, for a set retention period in an accessible format that is either non-rewriteable and non-erasable or backed by a complete time-stamped audit trail.