Breaking: Prospects Still Use Websites, Search Engines Way More than A.I. to Research Advisors
Image Source: Public Domain Image Archive
Wealthtender's latest report, “How Americans Find & Hire Financial Advisors,” paints a pretty familiar scene.
Here are some of their “key” insights:
96% of people research an advisor online before contacting them, even if they were referred by someone they know
More than 80% of people read online reviews of advisors while researching them
97% of people plan to contact 2 or more advisors before making a decision
I don't know if I'd call those insights “key” as much as I'd call them “old news.”
Still, it's nice to see a report reinforce what people are beginning to realize more and more: That all this “get on the AI train or die” talk is a bit overblown. That's not to say that AI doesn't show up.
It ranks just above “social media” (you know, that channel most advisors delegate to their intern).
Also, when it comes to how clients research an advisor: AI DOESN'T EVEN SHOW UP. You know what does? Your website. Your fees. Your credentials. Testimonials. SEO. Heck, even social media beats AI here.
Don't get me wrong: I don't mean to say you should ignore AI. This is merely another sign that the AI hype isn't all it's cracked up to be.
The next time someone on LinkedIn makes you feel like the future of your business depends on whether or not Grok mentions your firm, remember that referrals still reign supreme and people still use search engines twice as much as they use AI tools when looking for an advisor.
