It was a busy week for CatchlightAIa technology platform that enriches, analyzes and scores for wealth management firms, 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 (won the same award in 2023).
This new model aims to help firms shift leads to teams or advisors who specialize in clients with similar profiles; in other words, the channel leads to those within a firm who are closest to them based on the characteristics of that advisor or team's existing book.
With Catchlight, firms generate their leads from their established marketing efforts, such as stewardship referral programs, influencer centers or other sources.
Catchlight's new proprietary model “identifies the best possible match between advisor and investor by analyzing an initial pool of existing clients for a group of advisors or firms and finding likes within a pool of prospects,” according to the company's announcement.
Catchlight, incubated at Fidelity's Innovation Labsis one of a wave of AI-based prospecting and lead generation tools. While Catchlight feeds on prospects and leads from a firm's existing marketing efforts, other competitors, including Identified AND Finnyalso find directions.
New CTO at CAIS
Alternative investment platform CAIS this week announced that Kan Kotecha has joined the firm as chief technology officer.
Kotecha 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 efforts to scale and simplify “the entire alternative investment life cycle.”
The firm has announced several partnerships in recent months, including with Orion Advisor Solutions AND MML Investor Services, a subsidiary of MassMutual and announced that it was lowering fees for feeder funds that steer investors toward alternative assets.
CAIS supports over 32,000 advisors overseeing more than $4 trillion in network assets.
Interval interface updates
InterVal, a software provider serving accounting firms, advisors and other financial services companies with automated insights for SMB clients, announced the launch of a new advisory site called the Latest Updates Dashboard and a feature refreshed Opportunities.
The latest update dashboard is a new advisor landing page that provides users with simplified access to the app'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 complete when addressed, creating a user-friendly checklist.
“Fundamentally, we look at ourselves as a data company,” Chief Revenue Officer Matt Beecher said during a March interview with WealthManagement.com.
“There are many opportunities hidden within accounting data that, by and large, remain untapped and that can open up new opportunities for the client and their advisor,” he said.
With the platform's automated discovery features, it can uncover potential in structured and unstructured data, whether for liquidity planning, cash flow planning, insurance needs or other purposes.
Founded in 2019, interVal.ai is headquartered in London, Ontario and has an office in Austin, TX.