As a financial advisor, creating and maintaining strong relationships is one of the most important parts of your job. And in this day and age, personalization is key to differentiating yourself from the competition. That’s why it’s so important to choose a strong Customer Relationship Management (CRM) software. It makes your business more efficient while strengthening your connections and providing personal service and strong technology.
What are the Advantages of Using a CRM?
So, why should you use CRMs in the first place? Your main job as a financial advisor should be your clients, and using different CRMs to streamline your processes allows you to focus more time and energy on what really matters. They can help you to track, manage and analyze the interactions you have with clients, prospects, referrals and strategic partners. Some of the main ways that using a CRM helps you are by:
- Allowing for more collaboration opportunities
- Increasing efficiency
- Improving your customer experiences
What are some of the top ones that we recommend? And which ones do we integrate with? Let’s dive right in.
Top CRMs for Financial Advisors
Envestnet Tamarac
If you’re trying to find the best end-client experience, then look no further than Envestnet Tamarac. This is a web-based CRM system designed specifically for independent advisors and built on the Microsoft Office 365 platform. It is built in the cloud so it can be accessed anywhere from a mobile device or computer.
It has a user interface that is simple and intuitive, so it makes work personal by enabling your staff to provide the highest level of service.
Pros:
- Wide and deep integrations with custodians and portfolio managers
- Robust reporting feature
- Superior business intelligence for deeper market and client insights
- Built on Microsoft Dynamics platform for greater ease of use
- Mobile app for users and clients
Cons:
- No collaborative tools
- Pricing available only through consultation
UGRU Financial
If you are looking for the best value for smaller, growing firms, then look no further than UGRU Financial. It provides some of the top financial planning software for advisors out there so that advisors can work on growing their business and connect with clients rather than constantly having to focus on marketing and managing several different tools.
With this platform, you get:
- Full-featured, Integrated Financial CRM
- SalesForce Automation to help with contacts and accounts
- Marketing Automation to help you to get and obtain more clients
- Accounting & Operations that integrates the entire business
- Great Financial Planning
- Great prices, as this costs less than all your app combined you had to use before
Pros:
- Full-featured starting plan
- Low per-user cost
- Mid-tier plans offer marketing and workflow automation
Cons:
- There is no mobile app available
Nimble
Nimble is an incredible tool for investment advisors to help them simplify the complex business processes of wealth management professionals. It is a communication-based CRM that helps advisors to stay organized especially
Pros:
- Easy and flexible platform
- Allows you to unify your contacts
- Simple segmentation of client lists
- You can keep track of your clients on social media
Cons:
- Their customer support is lacking
- They lack auto-population of social media accounts and client addresses.
Zoho CRM
Zoho CRM helps advisors to convert more leads, engage with customers and grow their revenue. Advisors are super busy, and this tool allows you to save more time with automation by
- Automating every aspect of your business and cutting out time-intensive, repetitive tasks
- Streamlining your lead nurture process and making the most of every incoming lead
- Triggering instant actions, staying on top of activities and following up better with workflows
This leaves a lot more time to concentrate on your clients and focus on what really matters.
Pros:
- The best CRM for customization
- Integrate all the elements of customer/prospect interaction
- Track interaction from webinars
- Other modules to address company needs
- Especially easy to find communications
- Powerful process management and automation
- Self-service portals add to the power of the CRM
Cons:
- Tutorials need improvement
- Integrating can be complicated, and not completely consistent
- The live chat option is lagging
- Needs functionality for bulk email or scheduling
- The mobile app is lacking
Bitrix24
Bitrix24 is an all-in-one free platform to manage your team and run your sales. With this tool you can streamline:
- Employee directory
- Worktime tracking & reports
- Absence management
- Announcements & appreciations
- Workflow automation
- Requests & approvals
- No-code RPA
- Knowledge base
The dashboard makes it easy to manage everything, so that you can focus on clients.
Pros:
- It is an efficient time-management tool and can easily track time spent on a project
- You can monitor and visualize the entire sales flow of the company
- The tool is incredibly intuitive
- They offer a live chat tool
Cons:
- Some of the functions don’t work that well
CRM Software That Integrates with FMG
RedTail
Redtail CRM is a cost-effective customer relationship management tool designed specifically for financial advisors. They have been finetuning their CRM system for several years and our collaboration allows our subscribers to manage their contacts and marketing outreach all in one convenient location.
Syncing RedTail:
Sync your Redtail account with your FMG admin to keep your contacts up to date.
First, navigate to Contacts>>Manage Contacts in the navigation pane on the left side of your dashboard
On the top of the Contacts page, under Import Your Contacts, click “Sync Redtail CRM”
Next, you’ll be prompted to enter your Redtail credentials
During the syncing process, all of your contacts in your admin will be replaced with your Redtail contacts. If you have any contacts in FMG Suite that are not in Redtail, export your FMG contacts and add them to Redtail prior to syncing.
Here is an overview of the Redtail CRM Synchronization modal:
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What Would You Like To Sync From Redtail CRM?: You can choose which of your contacts from Redtail to add to FMG. Choose to either sync all of your contacts or only specified tags.
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Sync Frequency: To update your contacts automatically at the end of each day (recommended), enable automatic syncing by checking the box in this section. If you choose not to enable automatic syncing, you can start an on-demand sync at any time from your Contacts page.*
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Sync FMG Suite Activity: Check the box in this section if you’d like FMG to write an activity note to Redtail each time:
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A website form is completed
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An email is sent
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Someone opts out of your emails
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*After your initial integration, you may update your contacts sync method on-demand. To do this, navigate to Contacts>>Manage Contacts in your admin. To update your Redtail contacts on-demand, you can click “Update Contacts.”
Updating Your Sync Settings
To update your sync settings after your initial integration, navigate to Contacts>>Manage Contacts in your admin. Select the arrow dropdown next to “Update Contacts“, and select “Update current settings“. You can then update the contact settings in the Redtail CRM Synchronization modal.
Ebix SmartOffice
SmartOffice, the customer relationship management solution from Ebix, is a financial planning CRM that helps financial advisors tackle critical tasks like analysis, communication, and client services.
Syncing Ebix SmartOffice:
Keep your contacts up to date by syncing your Ebix account with your FMG admin.
If you are an Ebix SmortOffice Retail customer, before connecting FMG to SmartOffice, you will need to enable FMG Integration from the SmartOffice application. If you are an Enterprise customer and this setting is not available, contact Ebix directly to enable the FMG integration.
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In SmartOffice, Navigate to your User Accounts
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Open your User
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Select User Rights and in the Integrations section check off FMG
First, navigate to Contacts >> Manage Contacts in the navigation pane on the left side of your dashboard
On the top of the Contacts page, under Import Your Contacts, click “Sync Ebix SmartOffice”
Have your credentials ready – you’ll be asked to log in to your SmartOffice account when you click “Sync with Ebix SmartOffice.” This is a one-time authentication process that allows us to successfully sync with Ebix SmartOffice.
Enter in your Ebix SmartOffice log-in information and click “Submit.”
During the syncing process, all of your contacts in your admin will be replaced with your Ebix SmartOffice contacts. If you have any contacts in FMG Suite that are not in Ebix SmartOffice, export your FMG contacts and add them to Ebix SmartOffice prior to syncing.
Here is an overview of the Ebix SmartOffice Synchronization modal:
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What Would You Like To Sync From Ebix SmartOffice?: You can choose which of your contacts from Ebix SmartOffice to add to FMG Suite. Choose to either sync all of your contacts or only specified tags.
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Sync Frequency: To update your contacts automatically at the end of each day (recommended), enable automatic syncing by checking the box in this section. If you choose not to enable automatic syncing, you can start an on-demand sync at any time from your Contacts page.*
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Sync FMG Suite Activity: Check the box in this section if you’d like FMG Suite to write a SmartPad note to Ebix SmartOffice each time:
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A website form is completed
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An email is sent
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Someone opts out of your emails
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*After your initial integration, you may update your contacts sync method on-demand. To do this, navigate to Contacts>>Manage Contacts in your admin. To update your Ebix SmartOffice contacts on-demand, you can click “Update Contacts.“
Updating Your Sync Settings
To update your sync settings after your initial integration, navigate to Contacts>>Manage Contacts in your admin. Select the arrow dropdown next to “Update Contacts“, and select “Update current settings“. You can then update the contact settings in the Ebix SmartOffice Synchronization modal.
Wealthbox
Wealthbox CRM tools keep you connected with clients, prospects, and staff with automated workflows using desktop and mobile apps. From intuitive event calendars to account administration, Wealthbox and FMG work in sync to give financial advisors more control and more flexibility.
Syncing Wealthbox:
Sync your Wealthbox account with your FMG Suite admin to keep your contacts up to date.
First, navigate to Contacts>>Manage Contacts in the navigation pane on the left side of your dashboard.
On the top of the Contacts page, under Import Your Contacts, click “Sync Wealthbox.”
Have your credentials ready – you’ll be asked to log in to your Wealthbox account when you click “Sync with Wealthbox.” This is a one-time authentication process that allows us to successfully sync with Salesforce.
Enter in your Wealthbox log-in information and click “Log In to Wealthbox.”
After entering your credentials, you’ll need to authorize FMG to access your Wealthbox data.
During the syncing process, all of your contacts in your admin will be replaced with your Wealthbox contacts. If you have any contacts in FMG Suite that are not in Wealthbox, export your FMG contacts and add them to Wealthbox prior to syncing. To proceed to sync with Wealthbox, click “Got it. Sync with Wealthbox.”
Here is an overview of the Wealthbox Synchronization modal:
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What Would You Like To Sync From Wealthbox?: You can choose which of your contacts from Wealthbox to add to FMG Suite. Choose to either sync all of your contacts or only specified tags.
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Sync Frequency: To update your contacts automatically at the end of each day (recommended), enable automatic syncing by checking the box in this section. If you choose not to enable automatic syncing, you can start an on-demand sync at any time from your Contacts page.*
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Sync FMG Suite Activity: Check the box in this section if you’d like FMG Suite to write a Note to Wealthbox each time:
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A website form is completed
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An email is sent
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Someone opts out of your emails
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*After your initial integration, you may update your contacts sync method on-demand. To do this, navigate to Contacts>>Manage Contacts in your admin. To update your Wealthbox contacts on-demand, you can click “Update Contacts.“
Updating Your Sync Settings
To update your sync settings after your initial integration, navigate to Contacts>>Manage Contacts in your admin. Select the arrow dropdown next to “Update Contacts“, and select “Update current settings“. You can then update the contact settings in the Redtail CRM Synchronization modal.
MarketingPro
All the best features of MarketingPro are now officially part of the new FMG. Since MarketingPro was acquired by FMG, our teams have been working to take the best of both platforms and create a new, innovative platform that integrates the top features of both tools.
Syncing MarketingPro:
Keep your contacts up to date by syncing your MarketingPro account with your FMG Suite admin.
First, navigate to Contacts >> Manage Contacts in the navigation pane on the left side of your dashboard:
On the top of the Contacts page, under Import Your Contacts, click “Sync MarketingPro.”
After clicking “Sync MarketingPro“, you’ll see a prompt to continue. If you’re ready to sync your MarketingPro contacts to FMG Suite, click “Connect MarketingPro” to proceed with the integration. Have your MarketingPro credentials ready – you’ll need them to complete this one-time authentication process that allows us to successfully sync with MarketingPro.
Enter in your MarketingPro log-in information and click “Connect to FMG.”
During the syncing process, you can choose which of your contacts from MarketingPro to add to FMG Suite. Bring over all of your contacts and groups or choose specific groups of contacts to sync from MarketingPro. If you would like MarketingPro to sync with FMG Suite daily (recommended), enable automatic syncing by checking the box next to “Automatically sync with MarketingPro at the end of each day.”
During the syncing process, all of your contacts in your admin will be replaced with your MarketingPro contacts. If you have any contacts in FMG Suite that are not in MarketingPro, export your FMG contacts and add them to MarketingPro prior to syncing.
SalesForce
From lead and contact management to customizable reports, Salesforce is one of the most powerful tools to help financial advisors find, nurture, and convert leads faster and easier. Grow your assets under management (AUM), enjoy more productivity, and increase your sales revenue when you put FMG and Salesforce to work in your financial services firm.
Syncing SalesForce:
Keep your contacts up to date by syncing your Salesforce account with your FMG admin.
First, navigate to Contacts >> Manage Contacts in the navigation pane on the left side of your dashboard.
On the top of the Contacts page, under Import Your Contacts, click “Sync Salesforce.”
Have your credentials ready – you’ll be asked to log in to your Salesforce account when you click “Sync Salesforce.” This is a one-time authentication process that allows us to successfully sync with Salesforce.
Enter in your Salesforce Username and Password and click “Log In.”
Next, allow FMG Suite access to your data by clicking “Allow.”
The Salesforce Sync Report looks for three categories: Leads, Campaigns, and Contacts. If a field had been renamed in Salesforce, then the system doesn’t know where to get the correct data. To filter the sync via a set of Salesforce Campaigns we will count the number of Campaigns. If there are none, then you cannot filter by Campaigns. Click “Continue.”
During the syncing process, all of your contacts in your admin will be replaced with your Salesforce contacts. If you have any contacts in FMG that are not in Salesforce, export your FMG contacts and add them to Salesforce prior to syncing. Ready to sync your contacts? Click “Got It, Sync With Salesforce.” Please note:
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If your version of Salesforce supports “Lead” type contacts, then we write a Lead to Salesforce when a form is completed.
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If Leads are not supported, we do not save Form Fillouts to your Salesforce.
Here is an overview of the Salesforce Synchronization modal:
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What Would You Like To Sync From Salesforce?: You can choose which of your contacts from Salesforce to add to FMG Suite. Choose to either sync all of your contacts or only specified tags.
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Sync Frequency: To update your contacts automatically at the end of each day (recommended), enable automatic syncing by checking the box in this section. If you choose not to enable automatic syncing, you can start an on-demand sync at any time from your Contacts page.*
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Sync FMG Suite Activity: Check the box in this section if you’d like FMG Suite to write a note to Salesforce each time:
-
A website form is completed
-
An email is sent
-
Someone opts out of your emails
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*After your initial integration, you may update your contacts sync method on-demand. To do this, navigate to Contacts>>Manage Contacts in your admin. To update your Salesforce contacts on-demand, you can click “Update Contacts.“
To update your sync settings after your initial integration, navigate to Contacts>>Manage Contacts in your admin. Select the arrow dropdown next to “Update Contacts“, and select “Update current settings“. You can then update the contact settings in the Salesforce Synchronization modal.
Key Takeaways
Ready to start working smarter not harder? We hope these CRMs can help you do just that! At FMG, we integrate with five great ones, but the others listed may also be good for your business. It’s important to find what works best for you and your business and go from there! There is so much to juggle and being able to streamline everything into one simple platform makes everything so much easier.
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