How to choose a CRM for financial advisers

In this constantly shifting market, today’s financial advisors are finding that they have a lot to keep track of. Between stock details, tax regulations, estate information and more, wealth management professionals may feel like keeping up with client data is more than a full-time job.

However, despite the difficulty associated with information management, many financial advisors cite another issue as their number one challenge: effectively managing client relationships at scale.

Eighty-six per cent of financial advisors say that their success is linked directly to their ability to effectively manage client return expectations. Return expectations aren’t the only issue, either. Many clients are their own worst enemy, making investment decisions with their hearts, instead of their heads. Eighty-five per cent  of advisors identify the ability to prevent clients from making emotional decisions as a critical success factor.

Thankfully, much of the same wealth management software that allows financial advisors to manage investment data is also helping them to establish more collaborative and proactive relationships with their clients.

Sixty-three per cent better collaboration with their financial advisors. Clients aren’t content to sit on the sidelines. They want to play an active role in how their finances are managed.

This increased need for collaboration on both sides of the table is leading many wealth management professionals to adopt CRM tools as a solution. CRM for financial advisors is a significant step up from traditional wealth management tools. Unconnected databases, spreadsheet programmes, siloed information, various marketing tools and more were once the backbone of wealth management. Unfortunately, these tools failed to provide advisors with a full 360-degree view of their clients and did little to help connect or build client relationships based on trust.

CRM, as the name suggests, is designed to track, facilitate, analyse and improve client interactions and can assist with referrals, leads and even integration partners. CRM tracks details associated with contacts, such as personal information, communication preferences, financial goals and history. The best CRM for financial advisors also makes it possible for users to set appointments and better organise and retrieve related financial data.

The right CRM helps wealth management professionals deepen and grow their book of business and helps to keep them competitively ahead of new entrants and emerging fintechs with innovative releases. And, given that roughly half of wealth management professionals don’t use account aggregation software of any kind (including CRMs), those who do will likely find themselves at an advantage over their competition. Of course, not every CRM option is a perfect fit for financial advisors. Even among those that are specifically designed for the wealth industry, some fail to fully meet user needs. When looking for the top CRM for financial advisors, reviews are a great place to start and Financial Services Cloud is the most obvious place to finish.

Financial Services Cloud is one of the most trusted, highest reviewed wealth management CRMs for financial advisers. This is because Financial Services Cloud is built on the the tried-and-true Salesforce CRM platform. Salesforce CRM is widely recognised as the go-to solution for businesses large and small, and is the top-rated CRM in the world.

Financial Services Cloud offers the best CRM software for financial advisers. It is cloud-based, which means that users can take advantage of what it has to offer without having to install any expensive hardware or local software. All you'll need is an internet-compatible device, and you'll be able to access Financial Services Cloud directly through your browser. Cloud technology also resolves the compatibility issues that plague traditional financial adviser toolsets and allows for multiple users to gain access to the same client data across any channel or device.

Financial Services Cloud offers a robust partner ecosystem, allowing for the flexibility needed to seamlessly run your business, including integrations with financial planning tools, electronic forms, data aggregation services, and compliance solutions. The Financial Services Cloud data model also comes with out-of-the-box industry standard objects built directly on the Agentforce 360 Platform that model financial accounts, assets, liabilities, and financial life goals for individual clients and entire households — saving firms time and money on customisations.

The Salesforce wealth management CRM is designed for usability. With an intuitive UI that relies heavily on data visualisation, users can access and manage client data at a glance. Financial Services Cloud is customisable and configurable, so that it not only meets your business’ needs but also scales and grows with your organisation.

Of course, it takes more than being built on a respectable CRM to make the perfect wealth management tool. This is why Financial Services Cloud offers a set of features specifically created for financial advisors.

Financial Services Cloud was created through direct collaboration with financial services professionals. This partnership helped ensure that the tools and features built into the CRM system would be valuable and effective.

The Advisor Home Page lets advisors see their responsibilities, appointments, and goals all in one place, helping them plan their day efficiently. Advisors can also keep track of client goals directly in Financial Services Cloud with key targets and action items to help keep clients on track. Considering that only 37% of clients say that their financial advisors are even aware of their life goals, this means improved relationships and better returns across the board.

With three Financial Services Cloud releases a year, advisors can accelerate business growth and maintain a competitive edge with new product features and enhancements integrated automatically into the Agentforce 360 Platform.

Coupled with the power of artificial intelligence, event tracking, and advanced automation, these features give financial advisors the insight they need to build strong client relationships that continue from one generation to the next.

Financial Services Cloud was created through direct collaboration with financial services professionals. This partnership helped ensure that the tools and features built into the CRM system would be valuable and effective.

The Advisor Home Page lets advisors see their responsibilities, appointments and goals all in one place, helping them plan their day efficiently. Advisors can also keep track of client goals directly in Financial Services Cloud with key targets and action items to help keep clients on track. Considering that only 37% of clients say that their financial advisors are even aware of their life goals, this means improved relationships and better returns across the board.

With three Financial Services Cloud releases a year, advisors can accelerate business growth and maintain a competitive edge with new product features and enhancements integrated automatically into the Agentforce 360 Platform.

Coupled with the power of artificial intelligence, event tracking and advanced automation, these features give financial advisors the insight they need to build strong  client relationships that continue from one generation to the next.

^{_{Writers were aided by AI to draught these FAQs questions}}