“By acquiring them, we really level up our compliance game, which is going to allow us to deliver a lot more value.” “We at Snappy Kraken needed to greatly improve our compliance functionality,” Sofia explained. Securities and Exchange Commission allowing client testimonials and performance data to be brought into an advisor’s marketing campaigns. We work well together and it’s a partnership.”Īnother big factor driving the merger is that Advisor Websites has the industry’s highest net promoter score - a customer satisfaction metric - when it comes to compliance, Sofia said.Īdvisor Websites uses a compliance review dashboard for larger enterprise firms to automatically submit marketing material to compliance departments for review.Ĭompliance in marketing is increasingly important given new advertising rules put in place by the U.S. “We found that there was a great cultural alignment. “It became smarter to bring the companies together,” said Sofia. The two companies already had an existing integration, sharing contact data, performance statistics, and some Snappy Kraken campaigns ran on Advisor Websites platforms. “As we combine our website capabilities with their incredible content, the advisors who use our integrated offering will gain a significant competitive advantage.”Īdvisor Websites already had the infrastructure, compliance tools, employees and a customer base. “We’ve been following their success for several years and it is evident that they are the best marketers and brand-builders in financial services,” Turner said of Snappy Kraken. The integration is expected to take several months.įinancing for the acquisition came from existing Snappy Kraken investors, which include FINTOP Capital, Flyover Capital Partners and Montage Fund Advisors, an affiliate of Mariner Wealth Advisors. The news comes just as FMG, another marketing platform for wealth management firms, unveiled its own rebranding and announced additional digital marketing services.Īdvisor Websites will be branded as a Snappy Kraken company and Advisor Websites CEO Graham Turner will become its president. “And then it became a question of, ‘Do we build this from scratch, or do we acquire it?’”
“To really serve the industry well, we realized we had to also do websites,” he said. Most advisors have traditionally grown by referrals and spend very little on marketing.īut given the increased importance of a digital presence, particularly among prospects evaluating an advisor’s services, many quickly learn that even the most brilliant outreach can be thwarted by a lackluster website and bad branding. Touting Advisor Websites’ website design, calendar scheduling and compliance workflow technology tools, the company said the new business will provide “the ideal complement to Snappy Kraken’s award-winning prospecting and client relationship platforms.”ĬEO Sofia told that he founded Snappy Kraken in response to a lack of effective marketing tools in the financial advisory space. The move will essentially double Snappy Kraken’s staff to more than 100 employees and its client base to around 6,000 users, according to the company. On Tuesday, Snappy Kraken said it will expand into branding and building websites for financial advisors with the acquisition of Advisor Websites. Since founding the firm six years ago, Robert Sofia has grown marketing technology firm Snappy Kraken into a recognized, highly visible leader among only a handful of technology companies focused on helping financial advisors grow organically though digital marketing channels like social media, email, online articles and posts, and online advertising.
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