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FAs Identify Missed Opportunities

Financial Advisors at Top 20 Bank Uses Investyles to Identify Customers Likely to Have Incremental Assets to Invest
“Investyles showed the bank’s financial advisors that there was likely to be 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
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 neighborhood wealth ratings data to help its financial advisors:

  • Identify current customers likely to have 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 estimated consumer financial information that provides data based on directly measured liquid assets.

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
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