Datalign Advisory Launched to Connect FAs with Prospects – Financial Advisor IQ

Startup incubator Cogo Labs says it has launched a registered investment advisor referral company, Datalign Advisory.

Datalign is designed to connect advisors with prospective clients. RIAs approved to join Datalign’s platform have no minimum spend or long-term contract and prospects are matched with a single advisor, according to Cogo Labs.

Client prospects and advisors are matched based on location, investable assets, income, required services, time to retirement or previous experience working with an advisor, Cogo Labs says.

“Often, advisor referral services create an unpleasant experience for both sides. When leads are generated based solely on the size of a portfolio, advisors end up with prospects who aren’t a good fit, and individuals end up getting hounded by multiple firms,” Cogo Labs CEO Rob Fisher said in a statement.

“Datalign’s prioritization of connecting people with the right financial advice means advisors spend less time chasing the wrong prospects,” he added.

To find prospective clients, Datalign partners with publishers inside and outside the financial verticals with high concentrations of affluent and mass-affluent users, according to Datalign co-founder and chief operating officer Andrew Johnson.

The publishers embed Datalign’s lead form, either with the Datalign brand or white-labeled, near relevant content, such as an article on retirement planning, according to Johnson. The lead form has around 20 questions about a prospect’s investable assets, income, time to retirement, required services and risk profile, according to Johnson. Datalign then uses a matching system to connect the prospect with an advisor, according to Johnson.

“Selecting a financial advisor is a big decision; not exactly one that should be sourced on Yelp,” Johnson said in a statement.

“It isn’t just about finding a reputable advisor who knows the industry, it’s about finding someone whose expertise complements a client’s. We make this process easier and more efficient for clients and advisors alike,” he added.

Datalign is registered with the Securities and Exchange Commission as an RIA firm.