5 Unique Aspects of Lasso - A First-of-its-kind Advisor Lead Generation Tool

Brian Smith

There are a lot of lead generation tools available to advisors these days—most come with a big financial cost in the form of a fee on leads who become clients, and even when they don’t become clients. Others have a big time cost, requiring hours of time invested each week in finding and chatting up new prospects. 

I’m excited to share some details of Lasso (you can download Lasso here)—a new lead-gen app that is totally free for advisors to use and requires a much smaller time investment than other options. 

  • Click here to create your free account on the Lasso Advisor Portal. If you want to get all the latest updates, you can follow us on Linkedin.

What makes Lasso so special? Here are five unique factors:

1 – Advisors Don't Have to Pay a Dime for Leads - Ever

Lasso has two distinct purposes for two distinct audiences.

  • For consumers, Lasso allows them to build a financial plan in as little as 60 seconds without requiring them to link bank accounts or sign anything.
  • For advisors, Lasso provides a way to connect with leads who are actively looking for help improving their financial plan—not to mention you can share it with prospects and clients as a way to spark new conversations around current and/or potential future goals.

These are high-value activities, but neither consumers nor advisors pay a dime to use it at any point. The only cost to consumers is your advisor fee after they decide to work with you, and Lasso doesn’t take anything off the top of your fees from new business you get through our app.

So what’s the deal? How is Lasso funded?

We partner with asset managers who pay a flat fee to have their funds featured on the platform in the form of Passes. Advisors then use those Passes to create Proposals to suggest improvements the consumer can make to their Plan. 

2 – Conversations Begin with a Consumer-Generated Financial Plan

Pretty much every advisor website has the same primary button/CTA: “Schedule a Consultation.” 

As a result, 99.9% of advisor-prospect conversations begin with this vague “consultation” where the prospect isn’t sure what they will be getting and the advisor isn’t really sure that the meeting will be worth their time. It’s a necessary model, but not necessarily ideal.

That’s part of why we built Lasso—so advisors and prospects could have more informed conversations from the get-go. 

Every conversation in Lasso begins with the consumer setting their own financial goals and creating a minimal plan based around how much they can save and when they need it saved by, basically. 

No more meetings with prospects who don’t know what they really want. 

And no more scheduling free 30-minute meetings with mysterious people with unknown finances and unknown goals. One of my favorite things about Lasso is my next point...

Need Some Help Finding Leads?

See the Lasso platform in action and see if it might be a tool that can help you better connect with qualified leads.

Contact Us

3 – Advisors can See Consumers' Essential Details Before Communicating with Them at All

When a consumer creates a Plan, they have to answer five simple questions:

  • What’s your goal?
  • How much have you already saved?
  • How long until you want to reach your goal?
  • How much can you save every year?
  • What risk level are you comfortable with: Low, medium or high?

At that point, Lasso shows them a plan using points that they can adjust and see how different numbers may impact their plan. 

Then advisors come in. So you already know their goal, current savings, time horizon, intended savings and risk tolerance. With those four things alone, most advisors can tell whether a prospect is a good fit for them or not.

  • Click here to create your free account on the Lasso Advisor Portal. If you want to get all the latest updates, you can follow us on Linkedin.

Lasso allows you to see those details from a high level before you even contact anyone, making it easier to find prospects you really want to work with. 

4 – Advisors and Consumers are Part of a Collaborative Community

Thanks to our Points system, consumers can see how other consumers are doing without seeing the actual details of their financial situations. When you can see how well others are doing, it tends to lead to inspiration and a healthy sense of competition.

5 – Advisors Create Proposals Directly in the App - in a Matter of Minutes

Creating a proposal in Lasso is as simple as 1, 2, 3.

  • View the consumer’s plan
  • Choose a Pass
  • Adjust the asset allocation using the in-app slider

After that, you just hit “Submit” and wait to hear whether the consumer accepts your proposal or not. 

You can sign up for Lasso here. If you want to get all the latest updates, you can follow us on Linkedin.

About the Author

Brian is the Head of Advisor Sales and has extensive experience in client advisory, wealth planning and valuation within the financial services field. He has experience working in the Corporate Development Group at M&T Bank as well as in Wealth Planning at the Glenmede Trust Company. Brian holds a BA from American University in Business Administration and is a CFP® professional.