Sarah Hauer reported yesterday at the Milwaukee Journal Sentinel Online that, “If you bought a house, were expecting a child or started a new job, you would most likely share it on Facebook, Instagram or LinkedIn.
“What if a financial adviser could see those posts on social networks? Those life events often tie to important financial decisions.
“A new startup, Socialeads, is developing a way to pull information from social networking websites to help financial representatives know when and how to make connections with clients.”
Ms. Hauer noted that, “Socialeads, founded by Larry Hitchcock and Matthew Salzer, is the first investment for Northwestern Mutual Life Insurance Co.’s Cream City Venture Capital fund, which started last year. The startup will receive up to $85,000 in seed funding through the partnership.”
The Journal Sentinel article added that, “The idea is to have a platform that can recognize the content and context of a post on social media and provide insights into what action from a financial representative would be appropriate.
“‘There are moments in time when people are more apt to think about financial products,’ Hitchcock said. ‘Machine learning is how our platform will get more accurate and provide insights that enable everyone to understand moments in time with each client.'”
