Compliance · Disclosures
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. The right disclaimer depends on what the content claims. A video citing past performance needs different language than one giving general market commentary or featuring a client testimonial.
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Match the disclaimer to the content type
| Content type | What the disclaimer must cover | Where it comes from |
|---|---|---|
| General educational content | That the content is not individualized advice and does not create an advisory relationship | FINRA Rule 2210 fair-and-balanced standard |
| Performance claims | Gross vs. net performance, the time period, and that past performance doesn't guarantee future results | 17 CFR 275.206(4)-1(d); FINRA Rule 2210(d)(1)(F) and (d)(5) |
| Testimonials and endorsements | Whether the speaker is a current client, whether they were compensated, and material conflicts of interest | 17 CFR 275.206(4)-1(b); FINRA Rule 2210(d)(6)(B) |
| Hypothetical or backtested performance | That the results were not actually achieved, and the criteria and assumptions used | 17 CFR 275.206(4)-1(d)(6) |
Where and how it has to appear
| Rule | Requirement |
|---|---|
| Prominence | A disclaimer buried in a description or a linked page does not satisfy a fair-and-balanced presentation |
| Testimonial compensation | If more than $100 in value is paid for a testimonial about a member's investment advice or performance, any retail communication or correspondence carrying it must state that it is a paid testimonial |
| Video and audio | A disclosure meant to qualify a spoken claim needs to appear where that claim is made, not only in on-screen text or a caption below it |
What this means for your marketing
Match the disclaimer to the claim, not one firm-wide template. A video showing fund performance needs the gross/net and time-period language. A video with no performance data and no testimonial needs a lighter general disclosure. Using the heaviest disclaimer everywhere trains viewers to stop reading it.
Say it where the claim is made. A performance number spoken on camera needs its qualifying language on camera too, not typed only into the description underneath.
A testimonial disclaimer needs specifics, not a blanket warning. FINRA Rule 2210(d)(6)(B) requires three separate statements: that the testimonial may not be representative of other customers' experience, that it is no guarantee of future performance or success, and, if more than $100 in value was paid, that it is a paid testimonial. The SEC Marketing Rule adds a different set: client status, compensation, and material conflicts of interest.
Review disclaimer language on the same cycle as the content it protects. A disclaimer written for last year's fee schedule or a discontinued product does not cover this year's video.
Illustrative disclaimer library
The templates below are starting points, not legal advice. Confirm wording against the firm's actual registration status, services, and current fee schedule before use.
Illustrative template. Adapt to the firm's actual services and registration status.
Illustrative template. Standardized-period language is required under the SEC Marketing Rule.
Illustrative template. If the client was paid more than a nominal amount, the disclosure must say so.
Illustrative template. The SEC Marketing Rule conditions hypothetical performance on written policies ensuring it is relevant to the likely financial situation and investment objectives of the intended audience.
Common questions
Primary sources
- FINRA Rule 2210, Communications with the Publicfair-and-balanced and testimonial disclosure standards
- 17 CFR 275.206(4)-1, Investment Adviser Marketingperformance and testimonial disclosure requirements
Related terms
Daniel Schoester
Founder & CEO
Daniel Schoester is the founder and CEO of Croton Content, a video-first AEO, SEO, and GEO agency exclusively for financial brands.
He holds an Honours Bachelor of Business Administration in finance and began his career writing for financial publishers, with bylines at Forbes Advisor, The Average Joe, Hardbacon, MoneyWise, money.ca, Loans Canada, WealthRocket and Canadian Mortgage Trends. His content at a prominent Canadian mortgage website quadrupled monthly traffic to over one million views.
He founded Croton Content in 2022 to build evergreen content assets for financial brands, then expanded into YouTube in 2024 after studying Google's shift toward video in search. His client work has influenced more than $1M in revenue and drawn over 5M views. In March 2026, Otterly.AI named him one of 33 global AI Search Top Voices.
Canadian by nationality, he lives in Lisbon, Portugal, speaks in person across Europe and works remotely worldwide.
Educational information only. This is not legal or compliance advice. Confirm current requirements with your compliance officer and the primary sources above.
