With more than 10,500 financial service companies out there, professionals are more exposed than ever to the backlash of negative online reputation damage. When words such as “scam”, “fraud”, “thief” or “criminal” are even casually mentioned in the context of a financial services entity, the company almost always takes a hit to the bottom line.
These comments are not to be confused with information on sites managed by state agencies or federal government and regulator sites such as the SEC and FINRA. Nearly every state provides a site to file either a formal or informal complaint against those involved in financial services. Many of these sites provide online forms and even extend office hours for convenience. If services provided fall within the broad definition of insurance then each state has an insurance commissioner to oversee such regulated businesses.