Catchlight eases chase to catch prospects

investmentnews.com:

When it comes to prospecting, it can be hard for advisors to find the right match. After all, there’s a lengthy process involved – from answering queries to marketing and spending hours in conversations with potential clients.

To top it off, with the end of year fast approaching, advisors may be scrambling to set up those leads.

Thankfully, one tool is making it easier for advisors to “weed out” their leads. Catchlight, an AI-powered platform, helps financial advisors save time and grow their firms by predicting which leads are most likely to convert into clients.

Yelena Melamed, head of product and co-founder of Catchlight, said using the tool helps advisors highlight their value to their prospects.

“What we tend to tackle in the product is helping an advisor educate themselves about the lead they’re going to reach out to, so they can really contextualize ‘Is this lead a good fit?’ and ‘How can I think about the expertise that I have in servicing those like them by leaning on some anonymized anecdotes of how I’ve helped other customers realize their goals in the same way?’” she said.

Melamed added that Catchlight helps advisors evaluate leads and creates a full profile so advisors can think about segmentation and what service model that lead fits into. Advisors typically have already acquired the leads through a pipeline of resources, ranging from their websites, subscriptions to podcasts, newsletters and even referrals.

Very little information is needed to create a profile in the platform, just the name of the lead and contact information like an email, phone number and mailing address.

“That’s all we really need to get started to go through a process of enrichment, pulling back data in order to create a profile, which