Financial advisors need to track the financial standings of different clients. It is a crucial part of their job. If a financial advisor has many clients, they need to have all that information at arm’s length. Modern CRM for financial advisors makes that possible.

These tools help financial advisors strengthen their credibility and brand. Advisors use them to track clients’ needs, sometimes even before they know them. Because of this leverage, financial advisors can render better services to clients.

CRM systems help financial advisors study and understand their client’s needs. When they please their clients, they build a reputation and grow their clientele.

Best CRM Tools for Financial Advisors

There are different CRM tools for financial advisors. The typical way to know the right one is to compare the features on several instruments and see which works for you. But since there are so many of them available, choosing the right one can be challenging.

Here are three of the best CRM tools for financial advisors and their pros and cons :

1. Salesforce Financial Services

Salesforce comes with customizable features and components. You can tweak it based on your different customers’ dashboards. This flexibility will help you keep an eye on your clients’ finances.

Preinstalled AI can analyze data, watch, and predict trends. It can also use the information gathered from your workflow to make recommendations. Initially, understanding Salesforce may be challenging, but it is an excellent option once you get past that phase.


  • Integrates up to 100 data sources
  • Customizable components
  • Offers mobile access


  • Initial manual configurations
  • Expensive services

2. Wealthbox

This easy-to-use CRM is for people who are running small-scale businesses. It is not as robust as Salesforce, but it gets the job’s crucial aspects done. It also has an integrated social media monitoring feature. And this gives the financial advisor in-depth knowledge of their client’s interests.


  • Social media integration
  • Excellent user experience
  • Mobile access


  • Missing vital components like the financial planning feature

3. Envestnet Tamarac

Envestnet Tamarac focuses on the needs of the customer. For financial advisors looking to keep customers, this is a great CRM tool to use. It can integrate data from many systems, which is its most important feature.

The only downside to using Envestnet Tamarac is the consultation process. Before you get the CRM features pricing, you need to go through a consultation process. Many users would prefer not to go through this extra step in the user experience.


  • The robust data integration feature
  • Easy to use
  • Mobile access


  • There is no fixed pricing.
  • Missing collaborative tools

Final thoughts

Different financial advisors have various pain points they need CRM tools to address. So before choosing a CRM tool, analyze them to be sure it can cater to their specific needs. Advisors can do this themselves or have an expert help them pick the right tools for their business. But, if they go with any of the three tools discussed above, they can rest assured of getting value.

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