SmartAsset woos growth-focused advisors with new platform

Fintech’s subscription-based service promises ‘all-inclusive client engagement,’ including referrals and automated calls and texts.

SmartAsset, an online platform connecting consumers with financial advisors, is stepping up its advisor growth game.

The fintech announced the launch of the SmartAsset Advisor Marketing Platform, a new subscription-based service aimed at helping financial advisors acquire new clients and more easily retain their existing relationships.

“SmartAsset AMP is a true marketing platform, providing the referrals and tools to make it easier than ever for advisors to scale their business,” Michael Carvin, SmartAsset founder and CEO, said in a statement.

Billed as an all-inclusive client engagement platform, SmartAsset AMP provides a comprehensive suite of advisor marketing tools including referral generation, nurture campaigns, automated calls and texts, and live connections.

The wealth technology provider says its new platform will deliver a fixed range of referrals – targeted based on factors such as asset levels and geographic location – over a subscription period of six or 12 months.

Advisors using SmartAsset AMP are billed on a monthly basis, and can choose from three plan options: Discover, Accelerate, and Scale. Their subscription level will determine the number of phone and email referrals they receive each month. The platform also gives advisors the ability to set clear goals related to client conversion rates, meeting schedules, and AUM targets.

Currently, SmartAsset says it matches more than 50,000 US consumers with financial advisors every month through its marketplace.

“As an organization focused on advisor growth, SmartAsset is proud to connect financial advisors with high-intent consumers and help them acquire more clients via our automated marketing suite,” Carvin said.

If SmartAsset’s new platform succeeds on its promise of organic growth at scale through technology, it could set itself apart from digital lead generation services that have fallen short of expectations.

A number of advisors interviewed by InvestmentNews said that they do use those services, but that the limited ability to target leads and the time needed to get results has meant they rely more on traditional prospecting strategies, such as referrals and networking events.

“Referrals are probably still the No. 1 generator of clients,” Sean Lovison, financial planner and founder of Purpose Built Financial Services, told IN. “If you get a referral from somebody, those leads tend to turn into actual clients at a much higher rate.”