Advisory firm United Capital has signed a deal with digital lead-generation service Vestorly to revamp its newsletters and make them more appealing to current and potential clients, said United Capital chief executive Joe Duran.
Currently, United Capital is sending out a newsletter that has more mass appeal, but will soon begin to tweak the content based on user interests.
Even without the highly customized content, United Capital’s open rates have increased from 25 to 50 percent.
Twenty-five percent click through to read the content, far higher than typical digital newsletter response rates, Duran said.
United Capital has been sending out the newsletter every Friday for clients to read after work.
Only about a quarter of the articles are investment-related, while many are on more playful topics such as what gifts to get mothers for Mother’s Day or how draft selections get made, Duran said, reflecting the shift away from the investment-only relationship advisors have with clients.
“Most people are going to realize, ‘Hey, I got to be involved in my client’s entire financial life, not just their investments.'” Vestorly’s Wisz believes the technology can help advisors personalize the relationship with clients, and thus better compete against automated portfolio management systems.