AI May Send Clients to More Visible Advisors

Financial advisors who do not maintain a clear online presence may lose potential clients to competitors whom artificial-intelligence tools can more easily identify, Samantha Russell told attendees at the third annual ADVISE AI conference in Austin, Texas, on Wednesday.

Russell, chief evangelist at FMG Suite, explained that advisors now have two online audiences: prospective clients and AI systems that may direct people to professionals. She described the change during a session on how advisors can be found by AI.

Russell compared a 30-year industry veteran with a younger advisor who had an active digital profile. The veteran’s website did not specify the clients he served, the services he provided or the financial problems he addressed. He had little social media activity and no media presence.

The other advisor was active on social media, had received awards and was listed by professional organizations. Her website identified the clients she wanted to serve. A prospect asking ChatGPT for an advisor recommendation could be directed to her because AI could more easily identify her expertise.

“It just means she was easier for AI to discover and to understand,” Russell said. She added that the recommendation would not establish that the more visible advisor was better at his or her work.

Russell urged advisors to describe their expertise in specific terms, including the people they serve and the problems they solve. Statements that an advisor helps everyone may give AI systems too little information to match that advisor with a particular client.

She also encouraged advisors to document their professional recognition through awards, media mentions, podcast appearances, LinkedIn activity and quotations in industry publications. Awards shown only as logo images may be difficult for AI systems to interpret, so advisors should add text that names and describes each award. Older recognition can still contribute to an advisor’s online profile.

Client reviews and testimonials offer another source of information, Russell noted. AI systems apply stricter standards to recommendations in fields such as finance and health, where poor advice can have serious consequences. Advisors gained broader permission to use client testimonials after the Securities and Exchange Commission’s marketing rule took effect in 2022.

Russell recommended making small, deliberate changes instead of rebuilding an entire digital presence at once. She urged advisors to make clear what they do, whom they serve and how clients and other professionals describe their work.

She used Vincent van Gogh’s career as an example. Van Gogh produced nearly 1,000 works during the decade before his death in 1890 but sold few during his lifetime. After his death, his sister-in-law promoted his work by displaying the paintings and organizing exhibitions.

“Being great at what you do isn’t enough,” Russell said. “You have to make sure the world can also find out.”