It might be easy for advisors to feel overwhelmed with all the data available to help them do their jobs. There's new software that tracks the tweets and Facebook activity of prospects and regular clients, plus old-school investing tools that keep tabs on hot stocks and sectors as well as the portfolios of their clients.
Now add one more chunk of information to assimilate: wealth databases. A small group of determined data miners are slicing and dicing the world of high-net-worth individuals to extract easily digested sets of prospects: officers at public companies with stock options, people with a certain amount of investable assets, those with expensive hobbies like golf or yachting, and so on.
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