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What’s the Best CRM for Financial Advisors?

CRM or Customer Relationship Management software is an essential tool for any modern business. CRM software lets you easily keep track of your prospects, leads and clients. It also helps you efficiently manage these relationships to increase the chances of conversions.

As a financial advisor, building and nurturing relationships with your leads and clients is fundamental to the growth of your business. It’s very seldom to find someone who will sign up with your firm after just one or two exchanges. You’ll need to constantly stay in touch with your prospects if you want to build your client list. 

CRM solutions make this process a whole lot easier by keeping track of contact information, account records, email messages, and calendar appointments. It also gives everyone else in your team access to this information so that they’re always updated about the status of every prospect or client.

CRM tools can also automate processes such as: 

      • Client data collection
      • Lead scoring 
      • Follow-ups 
      • Sales calls
      • Appointment scheduling
      • Referrals and collaboration
      • Analytics and Reporting

This allows you to save time and maximize the potential of every prospect you get.

Because of all the advantages that CRM solutions offer, they’re used in every type of industry. But some packages are more suitable for financial advisors than others. 

CRMs for financial advisors have built-in workflows that specifically cater to the needs of different sized practices. This means you won’t need to hire a consultant to develop a new workflow from scratch.

Financial Advisor CRMs also allow you to quickly view your clients’ financial data all in one place. Just type in a name and you’ll see all the details of their financial portfolio without having to dig through different databases and websites.

Let’s take a look at some of the top CRM solutions for financial advisors available today.

Redtail Technology CRM

Redtail Technology is one of the first to offer CRM software tailored specifically for financial advisors. They’ve been serving the market since 2003 and have since developed a very robust offering that’s very easy to use. Because of this, they have a huge share of the financial advisor market that dwarfs all of its competitors.

Redtail’s pricing model is unique compared to the others as well. They charge $99 monthly per database which includes access for up to 15 users.


Wealthbox is a relatively new player in the industry but has enjoyed rapid growth due to its very easy-to-use CRM platform. It’s ideal for smaller firms and independent advisors that don’t have much spare time or resources available for training and additional configuration. 

It doesn’t skimp on features though. It’s got great email and collaboration tools, as well as great integration with social media platforms, eMoney and Riskalyze.

Pricing starts at $35 monthly per user for the Basic plan, and goes up to $65 for the Premier plan.

Envestnet Tamarac CRM

Envestnet’s Tamarac CRM is another long-standing player in the financial advisor CRM space. Tamarac CRM is also geared toward serving independent financial advisors while offering great integration with lots of other partner platforms. It also has great analytics and business intelligence capabilities. 

Tamarac CRM also has lots of tools that add value to your clients’ overall experience such as a client portal, interactive and PDF reports, a document vault, budgeting tools and a mobile app.

Pricing information is only available via consultation.

AdvisorEngine Junxure

Junxure’s claim to fame is that it’s made by financial advisors for financial advisors. Its primary advantage is its integration with portfolio management firms and financial tech companies like TD Ameritrade, Schwab and Fidelity to easily capture your clients’ financial data. Clients can also easily access their financial data and personalized reports via a client portal.

However, while the additional integration makes automating workflows much easier, syncing it with non-supported systems can be more difficult.

Junxure only has a single pricing tier which costs $65 monthly per user.

Salesforce – Financial Services

Salesforce is the largest and most well-known CRM solution. They offer a Financial Services product that’s used by big institutions like wealth management firms, insurance companies, as well as retail and commercial banks. It’s fully customizable and fully featured, but the downside is its steep learning curve. It will need a lot of customization for you to be able to get the most out of it.

It’s also quite expensive, starting at $150 monthly per user, compared to other CRM solutions we’re comparing.

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