It was a busy week for CatchlightAI, a technology platform that enriches, analyzes and scores leads for wealth management firms, which announced an invitation-only beta of its new Lead Routing decision support model.
The company also won a 2024 WealthManagement.com Industry Award for marketing automation at Thursday’s Wealthies gala in New York City (it won the same award in 2023).
This new model is meant to help firms funnel leads to teams or advisors who specialize in clients with similar profiles; in other words, channel leads to those within a firm most closely aligned to them based on the characteristics of that advisor or team’s existing book.
With Catchlight, firms generate their own leads from their established marketing efforts, such as custodial referral programs, centers of influence or other sources.
Catchlight’s new proprietary model “identifies the best probable match between advisor and investor by analyzing a seed set of existing clients for a group of advisors or firms and finding look-a-likes within a group of prospects,” according to the company’s announcement.
Catchlight, incubated in Fidelity’s Innovation Labs, is one of a wave of artificial intelligence-based prospecting and lead-generation tools. While Catchlight is fed prospects and leads from a firm’s existing marketing efforts, other competitors, including Aidentified and Finny, also find leads.
New CTO at CAIS
Alternative investing platform CAIS this week announced that Kan Kotecha has joined the firm as the chief technology officer.
Kotecha has previously held leadership roles within Google’s corporate engineering division and served as CTO of Wealth Management at Morgan Stanley.
According to the announcement, he will lead a team of engineers at CAIS that will focus on defining and building a unified operating system and on efforts to scale and simplify the “entire alternative investment lifecycle."
The firm has announced several partnerships in recent months, including with Orion Advisor Solutions and MML Investor Services, a MassMutual subsidiary and announced it was cutting fees for feeder funds that direct investors to alternative assets.
CAIS supports over 32,000 advisors who oversee more than $4 trillion in network assets.
Updates to interVal interface
interVal, a software provider that serves accounting firms, advisors and other financial services companies with automated insights for SMB clients, announced the launch of a new advisor landing page called the Latest Updates Dashboard and a refreshed Opportunities feature.
The Latest Update Dashboard is a brand-new advisor landing page that provides users with simplified access to the application’s most important tools and resources through direct links.
With its redesign, the software places Opportunities for each business under a dedicated tab of the same name, making it easier for users to track and manage them. Opportunities are automatically flagged when an action is recommended and can be marked completed when dealt with, creating a convenient checklist for users.
“At the core, we look at ourselves as a data company,” said chief revenue officer Matt Beecher during a March interview with WealthManagement.com.
“There’s a lot of opportunity hidden inside accounting data that, by and large, goes unused, and that can unlock new opportunities for the client and their advisor,” he said.
With the platform’s automated discovery features, it can uncover the potential in both structured and unstructured data, whether for liquidity planning, cashflow planning, insurance needs, or other purposes.
Founded in 2019, interVal.ai is headquartered in London, Ontario and has an office in Austin, TX.
