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4 Promising AI Tools for Financial Advisor Marketing and Prospecting

Valerie Rivera September 19, 2023

advisor marketing AI

If you can’t beat the bots, join them. That’s the common view among forward-thinking advisors who are using artificial intelligence to supercharge the efficiency of their financial advisor marketing.

Since ChatGPT made its debut in November 2022, offering generative AI powers to the masses, AI technology has been top of mind. ChatGPT was accompanied by an explosion in tools that leverage the power of AI for prospecting and marketing strategies. In fact, worldwide investment in AI technologies is set to leap from $91.9 billion in 2022 to more than $158 billion in 2025.1

Here, we explore four AI-powered platforms that can help with advisors’ greatest challenge: new client acquisition.2

1. Focus on Leads Likely to Convert with Catchlight

Website: catchlight.ai

Have you ever held a seminar, gathered a ton of leads, and then ran out of time and energy to chase them all down? If you’re having trouble analyzing the leads you have so you can put the most energy into the ones that might convert, look into Catchlight.

This lead optimization tool that was highlighted in a recent Kitces Marketing Summit won’t hand you leads. But it will analyze the leads you have, even if you only have a first and last name. It enriches the profile using data that’s publicly available, as well as information from data vendors. Finally, it analyzes the profile of your lead against hundreds of thousands of successful conversions, assigning your lead a score that indicates its quality. With this information, you can focus your attention on the people who are most likely ready to become a client.

What’s interesting about Catchlight is that it’s a machine learning model and can learn from past data you’ve supplied and adapt to your particular approach to your business. The firm also recently added features leveraging generative AI techniques that can write a personalized email to follow up on a promising lead.

What this tool can do:

  • Enrich lead profiles
  • Analyze lead quality
  • Generate personalized emails based on the enriched profile

2. Create Compliant Marketing Text Quickly with Saifr

Website: saifr.ai

To protect the investing public, there are stringent rules in place about financial advisor marketing. Getting an email, social media post, or even an entire website checked to ensure it won’t raise the ire of regulators can be a slow and painful process. So it’s no wonder Saifr has come up with an alternative: using an AI assistant to instantly correct things like promissory statements and suggest disclaimers when needed.

The tool was trained on a massive pile of documents “representing over 15 years of work by thousands of marketing and compliance experts,” according to Saifr’s site. The documents were vetted by attorneys before being fed into the company’s natural language processing models.

It also can be trained on your firm’s corporate communications guidelines (such as tone and sentiment) and flag anything that seems out of bounds.

What this tool can do:

  • Speed up compliance review and editing
  • Review for brand consistency

3. Measure Up to the Competition with Better Proposals

Website: betterproposals.io/proposal-ai

A frequent mention at the Kitces Marketing Summit, Better Proposals is a proposal automation tool that speeds up the process of creating professional deliverables for a prospective client. It allows you to quickly create a slick proposal with the help of an AI assistant that will correct mistakes and support proposal follow-up communication.

The platform has an optional feature, Proposal AI, that analyzes your proposal and compares it to live data in your industry, then makes recommendations on how to improve. For example, if your proposal has 15 sections and the optimal number in your industry is eight, the Proposal AI tool will point that out for you to fix.

What this tool can do:

  • Speed up proposal generation
  • Review for industry best practices

4. Pick Up on Key Sales Moments with Sybill

Website: sybill.ai

Advisors use Sybill for its AI behavioral analysis of video calls and sales interactions. It can transcribe a Zoom meeting with a prospect, create notes that include to-do items, and send a meeting follow-up email. However, the best part is getting a rundown of points of engagement and friction during the interaction.

What this tool can do:

  • Bring emotional intelligence to sales interactions
  • Automate meeting notes and follow-up

Technology Is the Way Forward

With new AI-powered tools and features coming onto the market at a fast pace, it’s hard to keep up. This quick rundown of advisor tech can help save you time in your quest to work smarter, not harder.

By focusing on what you do best and outsourcing the rest to technology, you can streamline workflows to deliver value to clients time and again.

Sources:

1. Goldman Sachs. “AI Investment Forecast to Approach $200 Billion Globally by 2025,” August 2023.

2.Cerulli Associates. “The Cerulli Edge U.S. Advisor Edition,” May 2023.

DISCLAIMER: The eMoney Advisor Blog is meant as an educational and informative resource for financial professionals and individuals alike. It is not meant to be, and should not be taken as financial, legal, tax or other professional advice. Those seeking professional advice may do so by consulting with a professional advisor. eMoney Advisor will not be liable for any actions you may take based on the content of this blog.

Image of Valerie Rivera
About the Author

Valerie Rivera, Senior Product Marketing Manager at eMoney Advisor, leads the go-to-market strategy for eMoney’s suite of business development solutions. Valerie began her career at eMoney in 2012 as an Account Executive and then a Live Trainer where she trained over 1,000 advisors on the eMoney platform – helping them drive success in their firms. In her spare time you can find Valerie outdoors--snowboarding, hiking, and mountain biking in her home in Colorado.

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