2026 Colorado Financial and Wealth Advisory Prospect Preferences Report
We asked 100+ Colorado prospects how they research financial advisors
Top 7 old-vs-new findings arrow_downward
Executive Summary
Almost all research on financial advisory prospects is national. We wanted to know if the same patterns hold true at the regional level. So, we started with Colorado, which ranks #5 highest in median household net worth according to SmartAsset 2026.
We surveyed 100+ Colorado prospects with household income of $100k - $200k+ and total investable assets of $250k - $5M+ who actively researched financial and wealth advisors from January to early June 2026.
The Fundamental Shift
The old reality of a monolithic prospect mindset, open-minded with no frame of reference, is being replaced with 3 distinct prospect mindsets: First-Timers, Searchers, and Switchers.
The traditional playbook of leading with credentials, experience, and referrals is no longer enough to win over these prospects. Today's prospects are advisor-savvy, have multiple advisors already in mind, and are quick to pass on anyone who doesn't meet their criteria.
This means prospects are now won or lost before a meeting ever takes place with an advisor. As a result, advisors who can differentiate themselves and make information that sway prospects publicly accessible will have a significant advantage over advisors who don't.
What we uncovered
3 distinct types of prospects in Colorado
First-Timers
Never researched advisors before. Affluent. Early career.
Total investable assets: <$500k (55%), $500k-$1M (28%), $1M+ (17%).
Searchers
Searched previously, but didn't find an advisor they liked. Affluent.
Total investable assets: <$500k (46%), $500k-$1M (35%), $1M+ (19%).
Switchers
Currently have an advisor and looking to switch. High net-worth.
Total investable assets: <$500k (25%), $500k-$1M (30%), $1M+ (45%).
1 What type of prospects are actively searching for financial or wealth advisors?
Key Insight 56% of prospects have prior experience looking for financial advisors. 26% are actively looking to switch advisors.
Old Reality Prospects need lots of education on what advisors do and what to expect.
New Reality Most of today's prospects are advisor-savvy. They're evaluating if you're the right fit for them.
Click on a prospect type to see how they research and screen advisors.
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2 How many advisors do First-Timers in Colorado already have in mind when they first start researching?
Key Insight 43% of First-Timers have 1 or more advisors already in mind when they start researching. 17% have 3 or more advisors in mind.
Old Reality First-Timers start their research with an open mind and blank slate.
New Reality Almost half of First-Timers start their research with at least one advisor already in mind.
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2 How many advisors do Searchers in Colorado already have in mind when they first start researching?
Key Insight 34% of Searchers have 3+ advisors already in mind when they start researching advisors. No one started with a blank slate.
Old Reality Searchers, like First-Timers, start their research with an open mind and blank slate.
New Reality Every Searcher starts their search with 1 or more advisors in mind. Almost a third of Searchers start with 3+ advisors.
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2 How many advisors do Switchers in Colorado already have in mind when they first start researching?
Key Insight 80% of Switchers have 1 or more advisors already in mind when they start researching for advisors to switch to.
Old Reality Switchers are open to any pitch from any advisor to win them over.
New Reality Most Switchers have at least one replacement advisor in mind. If you're not already on their shortlist, you're starting behind.
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Most prospects looking for advisors today already have a list of names in mind before they start. Even a referral will get stack-ranked against what's already on the list.
What prospects really want to know is where that name should rank in their list.
Katie Lantukh
Co-Author
3 What content do First-Timers in Colorado actively look for on advisor websites?
Key Insight First-Timers want the things that most advisors gate-keep behind a discovery meeting.
Old Reality First-Timers just want to see certifications and a track record of success.
New Reality First-Timers' top 3 evaluation criteria: cost, investment strategies, and testimonials from people like them. They prioritize fit.
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3 What content do Searchers in Colorado actively look for on advisor websites?
Key Insight Searchers want the things that most advisors gate-keep behind a discovery meeting.
Old Reality Searchers, like First-Timers, just want to see certifications and a track record of success.
New Reality Searchers' top 3 evaluation criteria: cost, investment strategies, and account minimums. They prioritize transparency.
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3 What content do Switchers in Colorado actively look for on advisor websites?
Key Insight Switchers want the things that most advisors gate-keep behind a discovery meeting.
Old Reality Switchers are looking for a more attentive, high-touch experience.
New Reality Switchers' top 3 evaluation criteria: cost, account minimums, and investment strategies. They prioritize value.
Compare
Use the study's companion tool
See how well your website answers these 7 questions from prospects
And compare against what AI is saying about your firm.
No email or sign-up required.
4 If First-Timers in Colorado can't find answers on the advisor's website, where do they turn?
Key Insight 44% of First-Timers just move on to another advisor if they can't find the answers readily available on the website.
Old Reality Gatekeeping important info will incentivize First-Timers to reach out to the advisor.
New Reality Gatekeeping important info will incentivize First-Timers to move on. Only 11% will contact the advisor.
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4 If Searchers in Colorado can't find answers on the advisor's website, where do they turn?
Key Insight 30% of Searchers turn to AI to fill in the blanks. 27% will just move on to another advisor.
Old Reality Gatekeeping important info will incentivize Searchers to reach out to the advisor.
New Reality Gatekeeping important info will incentivize Searchers to ask AI or move on. Only 11% will contact the advisor.
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4 If Switchers in Colorado can't find answers on the advisor's website, where do they turn?
Key Insight 56% of Switchers just move on to another advisor if they can't find the answers readily available on the website.
Old Reality Gatekeeping important info will incentivize Switchers to reach out to the advisor.
New Reality Gatekeeping important info will incentivize Switchers to move on. Only 13% will contact the advisor.
Compare
The traditional strategy of gatekeeping critical info to incentivize prospects to talk to the advisor is not working anymore. Prospects today either just move on to another advisor or turn to other sources for answers.
If compliance is the reason you can't publish certain data, make sure you monitor what 3rd-party sites or AI are saying about you, because they're providing answers whether it's accurate or not.
Hillary Gale Meehan
Co-Author
5 How many advisors did First-Timers in Colorado actually talk to?
Key Insight 58% of First-Timers talked to only 1 or 2 advisors.
Old Reality First-Timers will talk to many advisors to find a fit.
New Reality First-Timers screen and shortlist advisors before reaching out. Sometimes, nobody makes the cut.
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5 How many advisors did Searchers in Colorado actually talk to?
Key Insight 44% of Searchers talked to only 1 or 2 advisors.
Old Reality Searchers will talk to many advisors to explore fit.
New Reality Searchers screen and shortlist advisors before reaching out. Almost a third of advisors didn't make the cut.
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5 How many advisors did Switchers in Colorado actually talk to?
Key Insight 80% of Switchers talked to only 1 or 2 advisors.
Old Reality Switchers will talk to many advisors to explore fit.
New Reality Switchers almost exclusively talk to only 1 or 2 advisors. If you're not on their shortlist, you won't get the meeting.
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6 After talking to advisors, what caused First-Timers in Colorado to not choose them?
Key Insight Sounding like other advisors (no differentiation) is the most common reason why advisors don't win over the First-Timer.
Old Reality First-Timers reject advisors due to lack of credentials, years of experience, or firm reputation.
New Reality First-Timers reject advisors for lack of transparency and sounding like all the other advisors they researched.
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6 After talking to advisors, what caused Searchers in Colorado to not choose them?
Key Insight Higher cost is the most common reason why advisors don't win over the Searchers.
Old Reality Searchers reject advisors because they don't have the right personality or the right investment strategies.
New Reality Searchers reject advisors overwhelmingly due to cost.
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6 After talking to advisors, what caused Switchers in Colorado to not choose them?
Key Insight Sounding like other advisors (no differentiation) is the most common reason why advisors don't win over the Switchers.
Old Reality Switchers change advisors because they're looking for more investment options.
New Reality Switchers change advisors because they want unique advice that they can't get anywhere else.
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The timing of the referral is just as important as the referral itself.
A referral that can linger in the prospect's mind before they even think about looking is more effective than a referral after the search begins.
John Way
Co-Author
7 What was the outcome of the research?
Key Insight 45% of First-Timers chose an advisor that was on their initial list when they began their research.
Old Reality The right pitch or referral can overcome any disadvantage.
New Reality First-Time prospects choose an advisor they already know almost half the time. If you're not on their initial list, you're fighting uphill.
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7 What was the outcome of the research?
Key Insight 59% of Searchers chose no one. 10% gave up and decided to manage themselves.
Old Reality The longer the search continues, the easier they will be to convert.
New Reality The longer the search continues, the more likely Searchers are to give up.
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7 What was the outcome of the research?
Key Insight 47% of Switchers changed to an advisor that was on their initial list when they began their research. Only 15% changed to an advisor they found.
Old Reality The right pitch or referral can win over any Switcher.
New Reality Switchers change an advisor they already know almost half the time. A referral after a Switcher starts looking is too late.
Compare
Use the study's companion tool
See how well your website stacks up against these findings
Run your site through an instant diagnostic and get a breakdown of what's working and what's missing.
No email or sign-up required.
The Study Authors. LIVE.
What does this mean for you?
The study authors will be hosting a 1-day workshop (in Cherry Creek) to walk-through how this research affects prospecting in the Denver area.
We'll do a comprehensive deep-dive into 3 critical factors (your website, AI, and your referrals strategy) to show you how to get new clients consistently.
- Dive into the Colorado study with the authors
- See how AI sees you and who it recommends
- Build a referral partner roadmap & action plan
- Leave with ready-to-go marketing updates
Join us on Sep 23 — Denver, CO
Get Your Ticket See full agenda »
Sep 23, 2026 — $350/person, Limit 40
About the authors
7
Industry conferences spoken at
1,400+
Total founders and business professionals advised
150+
Podcast episodes hosted or appeared in
John Way, Katie Lantukh, and Hillary Gale Meehan have 50+ years of combined experience helping founders and advisors adapt their websites to match how prospects actually buy.
John Way
John is a B2B lead-gen & conversion specialist and founder of Pipelineapp.io. He specializes in helping professional service providers capture and convert the website visitors who did not book a meeting.
Katie Lantukh
Katie is a brand positioning & messaging strategist and founder of Murphy Marketing. She has spent over a decade helping founders and small teams attract more of their Favorite Clients.
Hillary Gale Meehan
Hillary is a marketing specialist for financial advisors, wealth managers, and CPAs and is the founder of Moneta Advisor Marketing. She is based in the Denver-area and hosts The Finance Marketing Podcast.