Snappy Kraken's Advisor Websites acquisition bears fruit in new unified product offering for advisors: Wealthtech Weekly

May 3, 2023 6:07 PM

Exactly one year ago, marketing technology firm Snappy Kraken announced the acquisition of industry website builder Advisor Websites in an effort to make planners' web pages better.

On Tuesday, the Florida-based firm announced that move and a series of others made over the past year have come together in a new unified product offering for advisors looking to make more meaningful connections with clients.

"Our goal is to reduce the amount of time financial advisors have to spend on marketing, while simultaneously helping them forge meaningful connections with their clients and ideal prospects." Snappy Kraken CEO Robert Sofia said in a statement. "Snappy Kraken's comprehensive, research-based campaigns are industry outliers in that they deliver verifiable results. We're proud to continue leveling up our end-to-end digital marketing strategies and delivering tangible value-add for the advisors we serve."

The company's revamped digital marketing strategy includes personalized websites and branding tailored to advisors' ideal clients; marketing automation featuring unique original content; text message marketing via the Snappy Kraken's Convos platform; and a "done-for-you" marketing solution called Freedom360 that eliminates the need for advisors to single-handedly manage their entire marketing systems.

Firm leaders say the product offering not only follows the acquisition of Advisor Websites announced in May 2022. It also reflects a desire to arm advisors with marketing tools to better serve clients, expand relationships and grow their firms.

According to Advisor Websites' inaugural state of the industry report released in 2022, 70% of consumers indicated that a website was the most influential channel in making a purchase decision.

Additionally, more people are turning online for financial advice with 80% of prospects conducting their own research online before choosing a financial advisor.

To date, Snappy Kraken has deployed more than 150,000 campaigns, launched more than 5,000 websites and sent millions of emails on behalf of advisors nationwide.

"We're not just looking to make marketing easier or help advisors simply check a box," Angel D. Gonzalez, co-founder and chief marketing officer of Snappy Kraken, said in a statement. "Advisors, and the people they serve, deserve much more. Marketing has to matter, and it's done through compelling offers and strategies built to deepen relationships."

Scroll down to get caught up on other recent fintech news you might have missed in our Wealthtech Weekly recap. And check out the previous edition here.

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Holistiplan tax planning tech now available to Advisor Group advisors

Holistiplan, a Texas-based provider of tax planning software for financial planners and investment advisors, has announced a strategic partnership that will bring its tools to Advisor Group's network of independent wealth management firms.

Holistiplan will now provide discounted access to its platform to all advisors affiliated with Advisor Group, in addition to offering ongoing training and best practices. The Holistiplan software was built to systematize and automate the process of reviewing a client's tax return to find potential planning opportunities.

"Our core mission is to help advisors provide richer planning for their clients, and this partnership with Advisor Group helps fulfill that in a huge way," Roger Pine, CEO and co-founder of Holistiplan, said in a statement. "This is a tool that is already being used by more than 16,000 advisors across the country, and it's a tool that was built for both the advisor experienced at tax planning and the one who knows it's important and needs to be added to their process."

The partnership comes just a week after it was announced that the eight wealth management firms in Advisor Group's network are becoming one over the next two years.

American Portfolios, FSC Securities, Infinex Investments, Royal Alliance Associates, SagePoint Financial, Securities America, Triad Advisors and Woodbury Financial Services are merging together under a new brand name set to be revealed later this year, Phoenix-based Advisor Group announced on April 26.

The official word follows speculation about the potential consolidation of the firm, which is majority owned by private equity investor Reverence Capital Partners and has more than 11,000 financial advisors across its network.

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Bento Engine launches lead generation tool

Westport, Connecticut-based fintech firm Bento Engine has announced the debut of an advisor tool focused on finding prospective clients.

The tool, called "Your Journey" is a customizable widget that can be embedded into an advisors' website. Visitors to the website are invited to enter their year of birth to learn more about key financial milestones in their lives, or "Moments that Matter."

After receiving high-level information about these life events, prospects are encouraged to schedule a meeting or contact the advisor via an online form.

According to advisor website experts Twenty over Ten, the average U.S. financial advisor converts fewer than 1% of their website visitors into booked meetings. Bento's Your Journey solution seeks to remedy this gap with a simple interaction that can concurrently help advisors express their value propositions while also learning what is top of mind for that potential client.

"Prospects are often motivated to seek a financial advisor's help based on a specific catalyst," Bento Engine CEO Philipp Hecker said in a statement. "Your Journey recognizes this reality, proactively delivering valuable contextual information that serves as a springboard for a more meaningful advisor-prospect interaction."

To participate in the Bento Engine Your Journey program, advisors must have a website based on WordPress and/or supported by one of the large marketing firms focused on wealth management.

"Given the importance of winning new business, it's critical that advisors use every tool at their disposal to create new and lasting relationships," said Cassie Jackson, chief growth officer at Bento. "With Your Journey, we've created a way for prospects to tap into the value of timely financial advice, which can in turn drive more and better conversions for the advisor."