SmartAsset Review

JASON916 wrote:
I have a person I work with there, would you like their info?

Here is my follow up on SmartAsset. I talked to them a few times and had two request. 1) I wanted to have leads that weren’t sent out to 3 advisors. I compared it to Dave Ramsey where people get tons of calls when they first fill out a survey and he didn’t like that and said 3 was less than Ramsey and had a speal about how competition is good. I also asked for a reference for someone from the same wirehouse as me to see what their close ratio was and how their experience was. He didn’t like that either.

Seems if the close ratio is 5-10% and then you have a B/D or wirehouse house that takes a big cut then its hard to cash flow in the beginning.

Opinions on that?

Prestige, seems about right. My experience with them so far has been ok. The leads are good vfor the most part, I’d say 1/9 are annoyed they got a call(a million call victims) these are also the ones who were just trying to “use” the site ect. however from apr to dec this year minus 2months of leads avg of 9/month, I have 6 in signing stage or presentation. So it is working. I just wouldn’t count only on it as a source because of the typical foot dragging. Im shifting more towards the 100k-1mill leads vs any at 1million+ those seem to be alot of lookyloos. It is a costly lead source however I am a hybrid with a rising payout, starts at .45 goes to .85 at 100k rev. When i meet these folkks i look to be holistic ins plus invesments allows things to be profitable sooner.Its a large cost upfront but at 5-10% clossed with a rev generation of 2500 and up between product mix itll pay off. especially the fee based rev. The avg aum I’ve seen has been between 300k-450k. using this and other setups until I can build with purely referals.

I have been using the Dave Ramsey SmartVestor Pro for the last 2 years. I pay $750 per month and I get approximately 25 leads per month. I have a 6% close ratio and a 62% reach ratio. I am sure I could improve these numbers with more follow-up. I am looking at supplementing this with the SmartAsset. I am curious which will produce better leads. The leads are more expensive. I will be targeting the $250k-$1 Million clients. I am allocating a $700 per month spend.