How Do Wealth Managers Use Beauhurst?

How Do Wealth Managers Use Beauhurst?

Sarah Cheeseman, 17 July 2023

Leading wealth managers face huge amounts of competition when it comes to finding, servicing and retaining high net worth individuals. Despite the introduction of tools to aid the discovery of prospective clients, they are now highly saturated, and wealth managers struggle to build a successful client base through them.

One of the most accurate ways to track people who have a high net worth, or those who are likely to in the near future, is through company data. While vast amounts of information are collected on UK companies every day, it’s difficult to collate and trawl through. This is where our BeauhurstAdvise platform really shines.

What is BeauhurstAdvise?

The BeauhurstAdvise platform collates UK company data together into one searchable database. It enables wealth managers to search for and create contact lists for people within their target audience with ease. We collect data on every UK private company—that’s over 5m profiles—to give our clients a complete view of the UK private market. Our 60+ data analysts work with machine learning models to ensure the data you see is always current and accurate, so you can stay ahead of the competition. 

Why do wealth managers use BeauhurstAdvise?

We work with a number of wealth managers across the UK to provide an evergreen source of prospective clients for their business development funnel. Here are a few examples of how you can use BeauhurstAdvise in your business.

1. To find high net worth individuals

The most common benefit of using our platform is the ability to find high net worth individuals, often before they reach your competitor’s radar. While other platforms have their uses, they’re saturated with other wealth managers and potential clients are usually flooded with offers before you pick up the phone. 

On BeauhurstAdvise, you can use a wide range of filters to help you narrow your searches down and target the right people at the right time. This includes the more ‘traditional’ entrepreneurs—those who have collated their wealth over a number of decades with successful business ventures—and ‘high-growth’ entrepreneurs who have set up businesses fast with the goal of selling them on within 5-10 years. Because of our tracking features, BeauhurstAdvise is the platform to use to reach these individuals first. 

2. To find individuals likely to be wealthy in the future

Thanks to our vast amount of data we source—specifically our ability to track the high-growth ecosystem—BeauhurstAdvise provides a view of individuals who are likely to be worth money in the future. For example those heading up high-growth businesses or approaching an exit. Being able to spot these people early on means you can start building your relationship early, developing a level of trust with them that means they’re more likely to work with you when they require help with their wealth management in the future.

3. To find successful companies

Similarly to the above, our platform makes it easy to keep an eye on what is happening within the high-growth market—which industries are booming and which companies are making the most money. Our platform allows you to set up alerts on searches, meaning you can be made aware if any of these businesses are reaching a stage where it might be beneficial for you to get in touch. For example,  any directors or founders that are getting ready to exit. 

4. To find funders

And it’s not just businesses. On BeauhurstAdvise, you can find and track funders. This gives you the opportunity to network towards them, building firm relationships for them to refer late stage attendees of their programmes through to you. 

5. To inform your strategy

The more data you have access to, the more you can use it to develop and perfect your strategy. This not only includes the type of people you contact, but also your triggers for when is the best time to do this, and what messaging works best for them. You can also track your existing client base on the platform, to help you service them better, creating longer-lasting, trusted relationships.

Our client, Coutts, has seen a great deal of success using the platform to better develop their outreach programme and find new customers. Read more about how BeauhurstAdvise has changed their approach to business development.

What can I use BeauhurstAdvise data for?

We provide the leading source of UK company data, allowing our clients to gain insight that they wouldn’t get with any other platform. Take our unannounced fundraising data, for example—we track fundraisings that aren’t announced to the press, so you’re always one step ahead. Not only do we supply the information itself, but we’re constantly introducing new features to help you analyse, track and benefit from the information we provide. 

1. Create collections

Every wealth manager has a different target audience to service. With our collections feature, you can create lists of people that fall into your predisposed categories, making it easier for you to track them together in one place. There’s no limit on how many collections you can create, meaning you can keep an eye across as many different industries or locations as you wish. Find out more about Beauhurst Collections.

2. Set up alerts

Our alerts function means you get notified when there are changes to your collections—such as funding alerts, director or key stakeholder exits or accelerator attendance. And to ensure you’re in control, you can tailor the alerts to be sent as often as you wish—every day, once a week, or specific days—whatever suits your schedule. Read more about our alerts function.

3. Utilise networks

The ‘My Network’ feature was introduced to help our users leverage the existing relationships they have in a more meaningful and productive way. Existing social networking platforms are over saturated and filled with contacts that don’t provide any value. With Beauhurst, you can capitalise on genuine business connections to top entrepreneurs, angel investors, C-suite executives, directors and shareholders in the companies and areas of interest to you.

Working with Beauhurst

Here at Beauhurst, we work hard to ensure our users are armed with the best information to put them in the position to succeed. Our team of experienced Account Managers are always on hand to help build collections, set up alerts or undertake particular searches. 

If you’re interested in finding out more about our services, speak to a member of our team today. You can also see how the platform works by booking a demo.

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