Boston-based Catchlight Insights announced that it has incorporated data available through Wealthbox, a customer relationship management software platform, into Catchlight, its growth engine, to help financial advisors find, target, and correspond with leads more effectively.

Catchlight is a data-driven system that was incubated within Fidelity Labs and rolled out to the public earlier this year. It had undergone a one-year pilot program prior to going live.

“Our intent is really helping advisors solve the growth challenge and doing so efficiently,” said Yelena Melamed, co-founder of Catchlight Insight and head of product. “Our intent is to really be that data engine that fuels that growth.”

Fidelity Labs fall under the Fidelity Investments umbrella and while Catchlight is a fully owned subsidiary of Fidelity, the firm remains independent in terms of its brand, custody, and asset management, according to Melamed. The main goal is to help advisors determine who is the best person or group to approach as well as help them personalize their pitch. 

“Advisors are doing a lot to fill the top of their funnel and the more we talked with advisors the more diverse ways we came across,” Melamed said. “The challenge they are consistently having is how to organize their thinking about the individuals that they have as leads.”

Catchlight has been growing steadily since it rolled out to the public earlier this year. It is working with more than 150 advisory firms of various sizes. The system can work with advisors of small shops as well as larger firms, Melamed said.

As a way to enhance the experience for advisors, without having to shift systems, Catchlight announced its partnership with Wealthbox earlier this month. This integration eliminate any redundant data entry on potential clients for the advisor and adds Catchlight data and insight into Wealthbox, which establishes a more complete picture of the lead. An advisor can sharpen their segmentation and target with information such as estimated investable assets, income range, age range, and financial interests.  

Data can also transfer into Wealthbox as well including a potential lead’s Catchlight Score. This number is determined through a sophisticated AI program that has been trained by more than 100,000 conversions from lead to client and a significant amount of data. The score determines the likelihood that a person will seek a financial advisor. The higher the score, the more likely they will engage, according to Melamed.

Not only does the system help clients target the leads that they are looking for or who will be the most receptive to their pitch, Catchlight also helps advisors craft that pitch.

“We try to give them insights into how they might fine tune whatever engagement method they already use,” Melamed said. 

Catchlight provides a series of topics a lead might be interested in talking about. These topics are generated based on the data that has already been gathered. Catchlight also has an interaction with FMG Suite, which is a digital marketing service. 

Catchlight also provides recommendations on how best to interact with leads from topics, to content, to integrations into digital marketing provider content libraries, like FMG Suite. Through this partnership with FMG Suite, an advisor receives a recommendation of three key matched pieces of content from FMG’s library, that they can then personalize and send directly to their lead.

First « 1 2 » Next