FAs Identify Missed Opportunities
Financial Advisors at Top 20 Bank Uses Investyles to Identify Customers with Incremental Assets to Invest
“Investyles showed the bank’s financial advisors that there was still a significant amount of untapped money amongst existing clients in their immediate target areas. There were some pretty big eyeballs in the room.”
–Dan Greene, Partner, Greene Consulting
–Dan Greene, Partner, Greene Consulting
Situation
A top U.S. bank’s financial advisors were struggling; their standard selling programs were not winning an adequate number of new customers or assets from existing customers.
Objectives
Financial advisors needed to:
- Identify which of their customers had significant growth potential
- Find incremental investment opportunities in their target markets
Solution
The bank used Investyles wealth ratings data to help its financial advisors:
- Identify current customers with incremental money to invest
- Prioritize prospects that are most likely to become their future best customers
IXI was selected because it is the only source of consumer financial information that provides data based on directly measured liquid assets. All of the top 10 U.S. banks are members of IXI’s network.
Results
Over 400 of the bank’s financial advisors have achieved success using Investyles:
- Sourced 80% of new sales from its existing client base in the last three years
- Grew the size and number of customer accounts in several key markets
- Improved ability to find missed opportunities with current customers
- Increased productivity of prospecting activities