New Study of 200,000+ AI Citations Reveals Which Sources Drive Wealth Management Visibility in AI Search

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MIAMI--(BUSINESS WIRE)--Mar 9, 2026--

AI search is rapidly becoming a new gateway through which investors discover and compare financial advisors. Which advisors surface in AI answers is influenced by a complex mix of sources that shifts depending on the nature of the prompt. National, local, persona-driven, industry-facing, and comparative prompts draw on different mixes of media, directory sites, and brand content, according to a study of 201,233 AI citations.

• National: Comparison sites like NerdWallet and Bankrate, as well as tier-1 media like The Wall Street Journal, CNBC, Forbes, and Barron’s, dominate citations.
• Local: Geographically focused brand and directory content, along with Forbes’ “Best in State” rankings make up the top sources, but influence shifts city by city. Forbes, for example, ranged from a 21.6% citation rate in Southern California to just 3% in Dallas-Fort Worth.
• Persona-driven: Brand content is most often cited, especially for under-covered or niche personas that aren’t often covered in media.
• Industry-facing: For questions about best technology platforms, strongest compliance support, and most competitive payout structures, trade media like InvestmentNews, WealthManagement.com, and Financial Planning rank among the top five sources.
• Comparative prompts: When investors or advisors ask AI models to compare firms or ask for alternative options, the clarity of a firm’s messaging and differentiators across owned content and earned media influence how the answers characterize the company.

The findings suggest that AI search does not rely on a single hierarchy of authoritative sources. Instead, the sources shaping AI answers shift depending on the question being asked.

“In traditional search, there was one leaderboard,” said Joe Anthony, CEO of Gregory. “In AI search, every question creates a different leaderboard. The firms that appear are determined by the sources the AI trusts for that specific question.”

The research, conducted by Gregory, analyzed how five major AI systems respond to wealth management queries. The study tracked 279 prompts across ChatGPT, AI Overviews, Gemini, Claude, and Perplexity.

The study collected 20,771 responses, which cited sources from 8,433 domains and more than 27,000 web pages. Read the full report, along with the prompt library: The Sources That Shape AI Search in Wealth Management.

Which Sources Does AI Cite for Wealth Management Questions?

For broad national prompts such as “best wealth management firm,” AI systems rely heavily on consumer finance directories and comparison sites. In those queries, NerdWallet appeared in 38% of responses and Bankrate in 35.3%, followed by major financial media outlets including The Wall Street Journal (24%), CNBC (20.7%), Forbes (19.3%), and Barron’s (17.3%).

But the hierarchy changes quickly when questions become more specific.

For location-based prompts such as “best wealth manager in Chicago,” AI engines frequently cite firm websites with dedicated pages describing services in specific cities. Tier-1 media dropped across the board. The Wall Street Journal slipped to 3.1%, CNBC plummeted to 2.9%, Forbes dipped to 11.5%, and Barron’s fell to 3.8%. Geographically focused pages on firm websites appeared more frequently than national media coverage.

The study also found significant variation between markets. For example, the financial advisor directory SmartAsset appeared in 25% of AI responses in Salt Lake City but only 8.9% in New York City , illustrating how differences in local content can influence AI recommendations.

How Advisor Sites Can Outperform Major Media in AI Influence

The shift becomes even more pronounced when investors ask questions tied to specific client types.

For prompts about advisors serving professional athletes, ultra-high-net-worth families, or retirees, AI systems relied heavily on firm-owned pages describing those specialties.

In one example, a Creative Planning page dedicated to professional athletes had a 42.8% citation rate, eclipsing media like Forbes (2.9%) and The Wall Street Journal (1.1%).

The finding suggests that clearly structured specialization pages can play a significant role in how firms appear in AI-generated answers, especially in niche areas that media are less likely to cover or create rankings for.

Comparison Questions Highlight Need for Clear Messaging

A second and less-discussed use of AI search is comparison.

While many investors ask AI systems to identify potential wealth managers, more sophisticated users are increasingly using AI to compare firms directly. These prompts often involve evaluating differences in expertise, client focus, investment philosophy, or specialization.

In these comparative queries, the factors influencing AI responses shift again. Rather than relying primarily on directories or rankings, AI systems tend to draw from sources that describe how firms position themselves and what markets they serve.

Firms whose positioning is clearly explained on their websites — and reinforced through credible trade media coverage — appear more accurately and competitively in these comparative responses.

“This is where communication strategy becomes critical,” Greg Matusky, Founder of Gregory, said. “Your website and your media coverage together shape how AI systems understand your firm.”

Comparative searches also carry a reputational risk. AI systems often draw from older articles and archived pages when generating answers. If a firm’s positioning has changed but its online content has not been updated, those earlier descriptions can influence how the firm is characterized in AI comparisons.

Opportunity for Trade Media Rankings

The study also highlights a potential opportunity for wealth management trade publications.

Much of the content cited by AI engines for broad financial advice queries currently comes from consumer finance directories and comparison sites, some of which rely heavily on advertising or sponsored placement models.

Structured rankings created by industry publications appear to carry significant influence in AI-generated answers.

The research suggests that verified rankings — such as lists of top advisory firms by geography, specialization, client segment, or service offering — could play a larger role in shaping AI search results if they are designed for transparency and discoverability.

“There is a real opportunity for trade publications to shape this environment,” Matusky said. “High-quality rankings that are verified, transparent, and structured so machines can read them could become some of the most influential sources in AI search.”

To have the greatest impact, the study suggests that such rankings would need to be:

• Based on clear, transparent methodologies
• Independently validated
• Accessible outside strict paywalls
• Structured so AI systems can easily parse and cite them

How AI Search Is Changing How Investors Find Financial Advisors

Instead of researching financial advisors by browsing search results and visiting multiple websites, users increasingly receive synthesized answers directly from AI systems. Those answers include a shortlist of firms influenced by cited sources that shape investors’ opinions before they ever visit an advisor’s website.

For wealth management firms that want to appear more frequently in those answers, the study suggests that combining clear messaging and differentiators, owned content, and a diverse mix of media coverage are all critical to AI search visibility.

Across the study’s findings, firms that appeared most frequently in AI answers tended to combine three elements:

• Clear, specialized content describing the markets and clients they serve
• Credible third-party coverage in respected media outlets — national, trade, and local
• Structured information and clear positioning that directly answers investor questions

As AI search becomes a larger part of how investors research financial advice, the sources that AI systems trust will increasingly shape which firms enter a prospective client’s consideration set.

About Gregory

Gregory is one of America’s largest and most innovative communications agencies, redefining what’s possible through the power of people and AI. With a global presence of over 130 professionals and offices in New York, Philadelphia, Boston, and London, the firm blends earned media expertise, creative storytelling, and proprietary AI tools to deliver measurable impact across public relations, content marketing, digital strategy, social media, creative services, and video production. Gregory’s integrated approach ensures that client stories rise above the noise and show up in the answers that matter — whether in headlines, social feeds, or AI-powered platforms like ChatGPT, Gemini, and Perplexity. The firm was recently named 2025 PR Daily Agency of the Year, 2025 PR Daily Content Marketing Agency of the Year and earned the PRSA Silver Anvil Award for Best AI Integration, establishing Gregory as the most AI-enabled communications agency in the industry today.

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PUB: 03/09/2026 08:00 AM/DISC: 03/09/2026 08:00 AM

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