Financial Advisor Benchmarking Statistics on Prospecting

Here’s what you’ll learn:

How likely it is that you are competing for “your” prospects and where the competition is coming from
How much constantly researching leads might be costing you
Popular and least effective methods advisors are using to research leads
Who advisors say are their sweet-spot clients
Who’s responsible for doing prospecting at firms like yours
The top methods for researching leads (and the quickest)
The most impactful methods of engaging prospects

Put this research to work for you today.

Founded in 2020 by Fidelity Labs, Catchlight’s mission is to address the challenge of helping independent RIAs scale and grow organically through the use of powerful data and proprietary AI models.

Why did we create this report?

We conducted this research because we wanted to understand how financial advisors are currently prospecting, and how we could help them be more successful, while saving more time each week. We thought the insights were so useful, we decided to share them with everybody!

How does Catchlight work?

With deep insights to highlight your best leads, Catchlight can help you make the most of your time by helping you find and focus on your best opportunities. Then, Catchlight can uncover valuable insights on how to best approach each lead in a personalized, engaging way — upping your chance of booking your next meeting and winning your next client.

Want to learn more about Catchlight?

Great. We’ve got two options for you. Click here to view a quick visual tour, or click here to request a one-on-one personalized demo.

CONTACT
hello@catchlight.ai

Catchlight℠ is offered by Catchlight Insights LLC. This content does not constitute an offer or recommendation of any securities or investment, tax, legal or other advice. Catchlight and its affiliates are not responsible for the accuracy of any information provided or for the outcomes of any interactions with existing or prospective clients entered into in reliance on the information provided or for any securities or investment advice provided to any existing or prospective client. All information about prospects provided by Catchlight is derived from publicly available and/or third party sources. Catchlight is not a consumer reporting agency and the services and information we provide do not constitute a ‘consumer report’ as that term is defined in the Fair Credit Reporting Act (“FCRA”). You will not use information made available through our services, in whole or in part, for the purpose of serving as a factor in establishing a consumer’s eligibility for credit or insurance to be used primarily for personal, family or household purposes, for employment purposes or for any other purpose authorized under the FCRA, or to take an adverse action, as such term is defined in the FCRA.

This is for persons in the U.S. only.

1053284.2.0

Unlocking Prospecting Potential: Financial Advisor Benchmarking Statistics

318
Advisors Surveyed

4
Major US Regions Analyzed

28+
Key Stats & Trends

Are your prospects talking to your competitors.

How much is lead research costing you.

Who advisors say are their sweet-spot clients.

Who’s responsible for doing prospecting at firms like yours.

The top methods for researching leads (and the quickest).

The most and least impactful methods of engaging prospects.

“The need to differentiate yourself and have a clear pitch grows with the greater competition for these higher value opportunities.”

“Automating your prospect research via Catchlight will help you determine who to call and what to pitch — giving you back as much as three or more working days per month.”

“By giving you engagement ideas and topics of interest, you no longer need to use the local weather forecast to make small talk when reaching out to prospects outside of your hometown.”

6 hrs
Avg total hours/week advisors spend researching leads themselves.

88%
Of advisors are involved in converting leads.

47%
Of large firms rely on LinkedIn for research, while 42% of small firms rely on information from the referrer.