Divorce, Death and Data: AI’s Growing Role in Client Prospecting
Artificial intelligence (AI)-based initiatives amplify the personalization options advisors can employ to engage with prospective clients, and broker-dealers are investing in AI-based lead analysis for their advisor networks. “As access to data has been commoditized and democratized, we’ve definitely seen an evolution of lead generation services, where there is now an ability to generate sophisticated lead lists based on a variety of demographic and heuristic traits,” said Kabir Sethi, chief product officer at LPL Financial. More than 63% of advisors said they used lead-generation platforms more in 2022 than in 2021, according to a recent survey of 272 financial advisors by SmartAsset.
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