Host Ryan Nauman welcomes Meg Carpenter, CEO and co-founder of FiComm, to discuss FiComm’s The New Growth Equation report based on a survey of 1,000 high-net-worth investors (all with $500K+ investable assets, including many with $5M+).
They explore findings that challenge the industry’s reliance on referrals: 45% of investors used no referrals, and among $5 million-plus investors, that rises to 50%, suggesting wealthier clients are more diligence-driven.
Younger investors under 45 often discover advisors via websites and Google, use multiple touchpoints, and increasingly use artificial intelligence tools in their searches. Meg explains how digital presence validates referrals, how specificity demonstrates understanding of client needs, why a “referral gap” exists, and offers practical steps firms can take over 12 months to improve findability, messaging, and tracking.
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00:00 Welcome and Setup
01:20 Meet Meg Carpenter
04:51 Why Test Referrals
06:48 Wealthy Investors Diligence
13:19 Next Gen Discovery Shift
18:34 Referral Validation Journey
24:17 AI Search and GEO
29:59 Proving Personalization
33:57 Ideal Client Specificity
38:51 Closing the Referral Gap
42:40 12 Month Action Plan
47:33 Wrap Up and Resources
