Powerlytics has introduced TrueWealth, a new platform designed to provide wealth management firms, banks, credit unions, and lenders with comprehensive data on U.S. households, enabling precise identification and engagement of high-potential prospects.
“The TrueWealth platform eliminates guesswork, providing firms with the most accurate and actionable wealth data available to drive sustainable growth,” stated Kevin Sheetz, CEO and cofounder at Powerlytics. This innovation aims to provide unmatched visibility into the investable assets and income of U.S. households, allowing users to identify, score, and engage high-potential prospects with precision in real time.
Powerlytics’ proprietary products leverage comprehensive financial data, underpinned by source of truth data from the IRS. By eliminating incomplete and inaccurate prospecting data, users can:
– Find, score, and prioritize prospects based on their income and investable assets, including stocks, bonds, mutual funds, retirement accounts, and deposits.
– Build precise customized profiles by analyzing total household income and asset composition.
– Improve marketing and lead generation efforts by targeting ideal clients with precision.
Kevin Sheetz emphasized the market need, noting, “With organic growth proving to be a major challenge—at just 2-3% net new per year for most RIAs*—financial institutions need a smarter way to expand their client base.” The company cites Ficomm’s “The Great Marketing Mismatch: 2024 Financial Advisor Growth Marketing Study” for this statistic.
Powerlytics’ proprietary database, developed by a team of PhD economists, integrates information from trusted U.S. government sources such as the IRS, Census Bureau, and Department of Labor. This objective and frictionless data aims to move wealth management firms, credit unions, and banks beyond traditional growth methods, enabling them to confidently target high-value prospects and gain a competitive edge. The company asserts its data revolutionizes growth strategies by delivering accurate and comprehensive information on 100% of U.S. households and businesses, facilitating smarter prospecting, cross-selling, up-selling, lending, and risk decision-making.
