When, Why, and How to Use Wealth Data

Looking for wealthy prospects?  You’ve come to the right place.

Wealth data is the primary factor in determining a prospect’s financial capacity to give. Whether you are new to iWave or need a refresher, here is a quick breakdown of iWave’s wealth datasets and how to get the most out of them.

Thomson Reuters

Thomson Reuters is a leading provider of individual and company wealth and insider transaction information.

Within this dataset, you can track the daily wealth creating activities of high net worth individuals and the companies they work for. Within any record you may find contact details, executive biographies, company information, cash compensation, and detailed insider trades share information, all of which helps you make more timely and better educated major gift asks.

Use this dataset if you want to:

  • Locate wealthy prospects and alumni in your area
  • Make a more timely ask by leveraging insider transactions and initial security ownership information
  • Make a more educated ask with access to biographical, compensation, and employment information
  • Stay up-to-date by setting alerts to notify you of wealth creating events for prospects or companies, such as stock disposal, company mergers, and job changes, as they occur.
  • Build a list of prospects based on job title, compensation, location, alma mater, etc.

Best Practice — Lest is Best

When you begin prospecting in TR, be mindful of the search criteria you include.  If you start off with a very narrow filter (such as specifying you only want corporate executives between the age of 40 – 55), you may miss great prospects on either side of that filter or individuals who have no age information available.  We recommend casting a wide net, then refining your search from there.  It may sound like a no-brainer, but you will end up saving time and finding better results in the long run.

If you’re building a list of wealthy tech executives in San Francisco, start with the State/Province and Officer Status first.  You may find individuals living in private residences across the Bay Area who commute into the city.  You may find various prospects who are directors or officers, but who don’t necessarily have the job title “Chief Technology Officer.”  From here, you can refine further by searching by compensation, alma mater, professional certifications, and much more.

Insider Filings

Powered by Thomson Reuters, Insider Filings are sourced from original forms filed with international securities commissions. They include transaction and security ownership information providing detailed context to help you make a more educated ask.

This dataset includes the following information:

  • US Insider Filings: Captures all US insider activity as reported on SEC Forms 3, 4, 5, and 144
  • Canadian Insider Filings (SEDI)
  • UK Insider Filings (UK Trade and UK Regulatory News Service
  • Asia Insider Findings: Australia, China, Hong Kong, and Singapore
  • Ownership & Profiles: comprehensive global share ownership data identifying “who owns what”

Use this dataset if you want to:

  • Search insider transactions and security ownership by individuals and companies
  • Understand the wealth creation events that impact your prospect’s giving capacity
  • Gain insight on asset liquidity to make a more timely ask

Best Practice — Get Creative With Name Searches

Type the first and last name of the individual to the left hand side in the Name Search box, then click search.  If no results return, try typing only the last name of the person.  Or, if they have a name like Stephen, James, Michael, etc., try typing in different ways the name could be mentioned, such as Steve, Jim, Mike, etc.

The results will display a list of names of possible matches.  Results may include their company name, title, state, whether the stock was bought or sold, the number of shares, and price. You can also click on resulting company names or individual names, which will take you directly to their profile in our Thomson Reuters dataset.

Prospects of Wealth

Brought to you by Larkspur Data, Prospects of Wealth utilizes over 70 different sources to gather detailed information on millions of high net worth individuals. Information outlined includes: address, contact information, biographical information, estimated net worth, and wealth indicators.

Use this dataset if you want to:

  • Identify new prospects that have the financial means to contribute to your organization based on estimated net worth, evidence of wealth, corporate information, and location
  • Understand your prospect’s net worth, profession, interests, and income
  • Generate mailing labels from home addresses

Best Practice — Look For Signs of Personal Interests and Affinity

Each record in PoW shows a number of wealth indicators. One individual may own a yacht or have their pilot’s license.  Another may be an accredited hedge fund investor.  Other information in PoW will help you calculate giving capacity, such as Est. Net Worth and Liquid Assets.  But having a qualitative understanding of a prospects interests may help your fundraising team establish a connection.  Determining capacity is critical, but so is demonstrating to your prospect how your nonprofit’s mission aligns with their personal interests and goals.  Perhaps that savvy investor could join your school’s board of directors and act as a consultant to your endowment fund.

What About Real Estate?

Great question!  Real estate research is an excellent strategy for determining capacity.  But to give that topic justice, it really deserves its own blog post.  With that said, stay tuned until next week’s iWave Blog update when we dive into best practices for iWave’s CoreLogic real estate dataset.

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