FINRA Rule 2210: social media and ads for financial advisors

The rule: count the audience, then approve

Rule 2210 puts every written or electronic message into one of three groups, and the group decides who signs off (FINRA Rule 2210(a)–(b)).

A public LinkedIn post, a website page, a Facebook ad and a YouTube video all reach more than 25 people, so they are retail communications. The core rule:

"An appropriately qualified registered principal of the member must approve each retail communication before the earlier of its use or filing with FINRA's Advertising Regulation Department" (FINRA Rule 2210(b)(1)(A))

Pre-approval is not required for a retail communication "posted on an online interactive electronic forum," or one that makes no recommendation and doesn't promote a product or service, as long as the firm supervises it like correspondence (2210(b)(1)(D)).

Static vs interactive content

This is the line that matters most on social media. FINRA's own words:

"Static content is typically posted for the longer term and lacks the immediacy of a real time conversation. Most static material must be approved by a registered principal prior to use, and sometimes may be required to be filed with FINRA." (FINRA: Social Media)

"Interactive material does not require principal approval prior to use if it is supervised in a manner similar to the way firms supervise correspondence and institutional communications." (FINRA: Social Media)

A principal must also review any social media site before you use it for business (FINRA: Social Media). Firms allowing interactive posts without pre-approval need written procedures for training, monitoring, and fixing problems (same page).

FINRA 2210 filing requirements

Filing applies mainly to three groups:

• New firms. For one year after a firm's FINRA membership starts, it files retail communications in public media, including "any generally accessible website," at least 10 business days before first use (2210(c)(1)(A)).
• Certain fund ads, before use. Retail communications with non-standard fund rankings or comparisons, and those about security futures (2210(c)(2)).
• Certain product ads, within 10 business days after. For example, those that promote a specific mutual fund, ETF or variable insurance product (2210(c)(3)).

Excluded from filing: content with no recommendation that doesn't promote a product or service, posts in an interactive forum, correspondence, and listings of products you offer (2210(c)(7)). A firm that departs from the standards can be ordered to pre-file everything (2210(c)(1)(B)).

Personal accounts and recordkeeping

"FINRA's advertising rules and guidance do not apply to an associated person's personal use of social media." (FINRA: Social Media)

Once you talk business on a personal account, the firm may be unable to keep the records it must (same page). Business communications are kept "for a period of not less than three years," decided by content, not device (same page). So a business text counts the same as a business email.

Reviews, shares and links

Other people's posts generally aren't your advertising, unless you adopt them (endorse or approve) or become entangled (help write them) (FINRA: Social Media). Sharing a client's praise can make it your testimonial. A testimonial about advice or performance must disclose that it may not be representative, is no guarantee of future results, and is paid if over $100 (2210(d)(6)). Don't link to a site you know or have reason to know is misleading (FINRA: Social Media).

What every post and website must include

• The firm's name, prominently, on all retail communications and correspondence, and which products come from the broker-dealer if other names appear (2210(d)(3)).
• A BrokerCheck link on the home page meant for retail investors and on any page with a rep's profile (2210(d)(8)).
• A link to finra.org near any mention of FINRA membership on a website (2210(e)(3)).
• Fair and balanced content: no "false, exaggerated, unwarranted, promissory or misleading statement or claim" (2210(d)(1)(B)), and no material facts buried in footnotes (2210(d)(1)(C)).

Projections: new rule, date not set

Rule 2210 has long banned predicting performance (2210(d)(1)(F)). The SEC approved a change on October 15, 2026 letting firms show projections and targeted returns under conditions, and "FINRA will announce the effective date in an upcoming Regulatory Notice" (FINRA, Oct. 21, 2026). The conditions include written procedures making the projection relevant to the audience, and explaining the assumptions, risks and limits (2210(d)(1)(F)(iv)). Until FINRA announces the date, follow your firm's current policy.

Investment adviser too?

Investment advisers' marketing falls under the SEC Marketing Rule. See financial advisor marketing and the SEC rule.

Canada: CIRO

Canadian investment dealers follow CIRO Rule 3600. A designated supervisor approves "original advertisements or original template advertisements" before use, and other advertising, sales literature and correspondence is reviewed by pre-use approval, post-use review or post-use sampling (CIRO Rules 3602(3)–(4)). Nothing may contain "an unjustified promise of specific results" (3602(1)(ii)).

This page describes the rules as of November 14, 2026; it isn't legal or compliance advice. Your firm's written procedures may be stricter.

Example

A LinkedIn article on Roth conversions

A rep writes an article and posts it publicly. It's static and reaches more than 25 people: a principal approves it first. It names no specific fund, so it isn't filed.

Comments under the article

A follower asks a question in the comments and the rep replies. That's interactive: no pre-approval if the firm supervises it, but it's kept on record.

A firm's first ad campaign

A broker-dealer that joined FINRA eight months ago launches a website and Google ads. It files them with FINRA at least 10 business days before they go live.

Different for you?

• You're an investment adviser, or show reviews: financial advisor marketing rule.
• Buying leads from SmartAsset or similar: SmartAsset and advisor leads.
• Financial ads on Facebook: Meta special ad categories.
• Asking clients for Google reviews: asking for reviews rules.
• A compliant site with BrokerCheck links and approved pages: Website agent.