Specialist vs generalist review sites – the key differences you need to know

So, if you work in financial services, is it really a good idea to rely on generalist review sites to truly understand your customers?

Generalist platforms were built to rate everything from toasters to taxi apps. Yes, they have high numbers of reviews. But the vast majority of them aren’t even relevant to your industry. If you’re serious about understanding customer outcomes and building real trust, you need to work with a specialist.

Here are five key reasons why using a dedicated platform like Smart Money People, the UK’s most comprehensive financial services review site, gives you a genuine competitive edge.

1. Meaningful data, not just stars

Generic platforms give you a batch of star ratings based on non-specific review questions. But with specialist platforms, you get so much more.

Smart Money People captures 16+ financial services-focused data points per review, such as value for money rating, customer understanding and product suitability. It’s not just broad feedback, it’s tailored data and insights that you can use to evidence Consumer Duty outcomes.

Generalist review sites might point out that your score has dropped. We tell you why, and how to fix it.

2. Benchmarking at a deeper level

In financial services, context is everything. It’s not enough to simply know what your customers think. You need to know how that compares to the wider market and your competitors.

With over 2.5 million reviews and more than a decade of experience, Smart Money People offers unrivalled benchmarking – by company, sector, industry, or even your own team. General review sites may give you broad comparisons, but they don’t have the expertise or knowledge of your industry to give you the detail you need.

3. Younger customers are more frustrated and vocal

Our research found that 69% of Gen Z and 51% of millennials have experienced frustration with a financial product in the last 12 months*. And they don’t stay silent:

• 95% of Gen Z did something to express their frustration
• 24% of Gen X and millennials left a review
• 84% of 18–34s read reviews before switching providers

Gen Z expects better, and uses reviews to find it. If you're not on the right review platform, you're not even in the conversation.

4. Generalist platforms aren’t built for regulation

Consumer Duty requires companies to prove they’re delivering good outcomes. That means capturing and evidencing data that aligns to fairness, suitability, value, and clarity.

Generalist review platforms probably don’t know what Consumer Duty is, let alone how to help you meet it. At Smart Money People, our review structure is designed around it. Our 16+ financial services focused data points make it easier for compliance and customer experience teams to monitor trends, track risks, and report on what matters.

5. Quality reviews matter

Customers hold financial services companies to higher standards than most sectors. Our research shows:

• They require an average rating of 4.1 to even consider a product
• 73% seek out better reviews when spending more
• 60% say they’ve changed their mind after reading reviews

With generalist sites covering multiple industries, it's hard to tell who’s real and what’s relevant. Fake reviews and spam accounts can muddy the waters.

Only verified customers can leave reviews on Smart Money People. So you (and the FCA) can trust their legitimacy.

Final thoughts

With the introduction of Consumer Duty, how you listen to your customers matters just as much as what they’re saying.

Smart Money People isn’t just another platform. We’re the UK’s most comprehensive financial services review site, built to help companies like yours understand customers in meaningful ways, and evidence good outcomes with confidence.

Generalists are built for mass-market volume. We’re built for you.

Still not convinced? Get in touch and we’ll change your mind.

*Smart Money People research, April 2025