Per the firm’s recent announcements, AssetMark launched two new tools aimed at helping advisors on its platform with their client prospecting and marketing. The first tool, called WealthBuilder Prospecting, is designed to provide “a gateway for interested leads to begin a low-friction search process” with one of the more than 8,500 advisors on Assetmark’s platform.
Consultants’ new prospecting capability is Marketing Advantage, “an all-in-one marketing platform,” complete with a client-facing content library of posts, articles, and visuals. The tool integrates with customer relationship management software from Redtail, Salesforce, WealthBox and Ebix. Client details can also be input via spreadsheet.
According to the announcement, it takes about 20 minutes for the firm’s prospecting tool to be implemented. The tool creates a unique link for each advisor, which can embed them in digital mediums such as websites, emails or social media posts. When clients complete the prospecting process, which captures characteristics about clients’ goals, their investment preferences, and who they are, advisors are alerted that a new prospect is waiting to be negotiated.
“WealthBuilder allows prospecting consultants to invite leads into the planning process and effectively ‘kick-start’ a heated customer engagement process, in a time-efficient manner that increases the earning potential of the new business, said Michael Raneri, chief digital innovation officer at the firm, in a statement. Ranieri implied that the new prospecting tool would provide advisors with greater success than tasks such as cold calling, advertising or seminars, which “often require large investments of time and money. [and] No guarantee of success.”
Once advisors have engaged their new prospects and turned them into clients, Assetmark allows advisors to automate email campaigns, optimize integration with advisors’ websites, and create a bevy of client-facing content such as videos, articles, and more. A new tool is being provided to take it out. , social media posts and infographics. The toolkit, built on the technology provided by FMG Suite, is designed to help consultants, most of whom are “really, really bad marketers,” by providing an easy-to-use marketing platform to grow their businesses. Huh.
The launch of back-to-back tools for advisors is part of a broader vision of technology at AssetMark.
About a year ago, CEO Natalie Wolfsen announced a “new and different solution” for advisors, as the firm pushed to acquire a substantial portion of the advisor’s tech stack. As of July, AssetMark had closed its acquisition of Vayant. With the transaction, AssetMark acquires financial planning and customer-focused digital engagement tools for approximately 20,000 advisors associated with small advisory firms and financial institutions. View customer service in the US, UK, Canada and Ireland.
Assetmark added 201 new producer advisors and more than 6,500 new homes to its platform during the third quarter, according to the firm’s most recent earnings report released in November.
The property also increased year on year. “We realized a 23.7% annual production lift from existing advisors for the third quarter,” according to the report, indicating that advisors continued to grow organically and continue to increase wallet share on our platform. AssetMark had $86.8 billion in platform assets as of September 30, 2021.
The firm is due to report its latest earnings next week.
