The business valuation provider BizEquity is providing advisors with new tools so they can better engage prospective clients.

BizEquity is adding a “Smarter Prospecting” feature to its Advisor Office platform - a move that will drive leads by giving advisors contact details of key decision-makers at businesses alongside company valuation data.

The database on Advisor Office holds details of over 70 million businesses, which in turn carries 1.4 billion financial data points.

The platform also provides users with "big data" knowledge to aid risk profiling, such as information on their insurance and financing levels. It has been adopted by over 120 financial advisory firms.

BizEquity aims to protect traditional advisors from the threat of losing prospects to robo-advisors by providing clients with business valuations and company performance analysis.

"Every advisor globally needs more and better prospects. BizEquity continues to innovate by adding this new feature to help advisors and their clients by democratizing previously expensive and hard-to-find data and insight,” said Michael Carter, founder and chief executive of the firm.