The bad news about licensing all that content, drawn from publications that include MarketWatch, The Wall Street Journal and Barron’s, is that it plumps up overhead without passing along the costs to the financial advisors who use it.
“We know financial advisors need a quick, easy and integrated news platform to be able to identify relevant stories and share such insights with prospects and customers. We are confident this partnership will give financial advisors the edge when it comes to engaging their audience with trusted and relevant content,” said Joe Cappitelli, general manager of news, alerts and data at Dow Jones, in a prepared remark.
While Vestorly already offers content for advisors, the deal with Dow Jonescreates a treasure trove of material for advisors, Wisz says.
The biggest value of the content is it eliminates the nasty paywall and advertisements that clients would receive if an advisor sent them a Wall Street Journal article link on their own.
“The problem we’re solving is [that] advisors are reluctant to share content if it’s just going to send them to a newspaper where a client doesn’t have a paid subscription,” Wisz says.
“The Dow Jones-Vestorly partnership enables us to further provide Dynasty’s independent network of advisors relevant content from The Wall Street Journal to engage clients and prospect,” says Gordon Abel, Dynasty’s director of marketing, in a release.
Many of the stories advisors are passing on aren’t so much inside baseball about custodians and broker-dealers but the content is more focused on arts and culture, travel and entertainment.