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Financial advisors and CFPs who want to generate leads, close deals, and organize client data should invest in customer relationship management (CRM) software. The best CRMs for financial advisors are customizable and easy to implement, offer a variety of tools to streamline workflow, help market financial services, and keep accounts in compliance. To help you choose the one for you, we evaluated over a dozen options and narrowed it down to the six best CRMs.
While the above options may score highly in one category or another, Zoho CRM emerged as our top CRM software for financial advisors, winning first place for cost and core features and tying for security and compliance. Our highest scoring options for financial advisors are general CRMs, but two industry-specific software made our list as well. Read more about each CRM’s primary use cases, pricing plans, and core features in the section below.
Note: All monthly prices are with a one-year commitment unless noted.
Helps you generate and nurture leads through digital marketing and communication.
Zoho CRM propelled to the top of our list of best financial advisor CRMs for its affordability, accessibility, and available features. However, it stands out for its multi-channel digital marketing tools — advisors can create email campaigns for specific leads and customers, as well as interact with Facebook and Instagram leads right from the CRM. This makes Zoho CRM a solid choice for planners who want to generate and nurture new leads through various channels.
Even though Zoho CRM is our top rated option for financial advisors, its interface can be hard to use. If you're looking for an easier-to-use CRM option with equally robust sales features, check out Freshsales.
Offers an intuitive, easy-to-use pipeline tool with robust sales and lead generation features.
Freshsales is a clean and easy-to-use CRM offering live chat, online web forms, and a built-in phone dialer. Upgrade into one of its highest paid tiers for an intuitive multi-pipeline tool including advanced features such as robust reporting as well as AI-powered sales forecasting and insights. While it's not a finance-specific CRM, it offers most of the sales features you'll need for lead generation, nurturing, and deal-closing and is rated our top overall CRM software.
Freshsales is one of the top CRM options available, but it's missing some digital marketing features for lead generation and nurturing. If you're looking for more robust marketing features, check out Zoho CRM.
Offers advanced sales and marketing tools you can purchase separately to nurture leads.
Pipedrive is a sales-forward CRM that offers robust marketing tools that you can purchase individually. Listed as one of our best lead management software, it helps you find leads that fit into your client profile with LeadBooster’s web forms. Its Campaigns add-on then allows you to create drip campaigns for your prospective clients or your referral network. You can also centralize insurance documents, client proposals, and contracts with its Smart Docs add-on.
Pipedrive is a good option for financial advisors looking to purchase premium add-ons, but its financial reporting tools aren’t the best. If you’re someone who needs robust tools for managing your reports and dashboards, try Salesforce, which also offers premium add-ons.
Helps you track your performance with robust reporting tools and real-time dashboards.
Salesforce Sales Cloud is a cloud-based CRM that offers advanced general sales features for reporting and collaboration. Create forecasting reports with its simple drag-and-drop tool and organize them via different filters, groups, and charts. Then track your performance, like referral conversions, on a dashboard that shows real-time updates. Upgrade to Financial Services Cloud for features like asset management, milestone tracking, and AI-powered forecasting.
Salesforce Sales Cloud is a powerful option with finance-specific upgrade options, but it's missing some sales and marketing features without upgrading. If you need more robust marketing features, check out Zoho CRM.
Allows you to create a one-stop hub for wealth management tailored to your needs and goals.
Wealthbox is a cloud-based CRM that can serve as an all-in-one hub for independent advisors and small firms thanks to its breadth of industry-relevant app integrations. Advisors who need a custom CRM can tailor it to their needs by adding partner apps like eMoney (financial planning), DataPoints (risk analysis), and RIA in a Box (compliance). Flesh out Wealthbox’s features by integrating third-party apps for email marketing, communication, scheduling, and social media.
Wealthbox is our top-rated finance-specific CRM option, but it can be pricey for some and may be missing some sales and marketing features. If you need more affordably priced and robust options, look into Zoho CRM, which is also highly customizable.
Helps you promote services and market information sessions with its built-in seminar tool.
Redtail is a CRM made specifically for financial advisors. Market to prospective and existing customers with a built-in seminar tool that tracks attendance, organizes past sessions, and merges contact info so follow-up messages can be sent. Its seminar tool can also monitor phone and email campaigns for multichannel marketing. Redtail is great for advisors who want to create financial information resources to attract clients as a respected authority.
Redtail is a good option for creating financial info products for marketing and ongoing education, but its interface can be hard to use and it may be pricey for some. If you're looking for an easy-to-use general option with advanced sales features, try Freshsales instead.
The best financial software options offer these tools:
Analyze your clients’ financial accounts, goals, relationships, investment profile, and more to help you assess risk or find opportunities.
In our evaluation, we looked at both industry-specific and general options offering the best mix of features and pricing for financial advisors. To determine the best, we first outlined six weighted evaluation categories for financial advisor CRMs. Then, we used these categories to assign each option on our list a score out of five, including the identification of primary use cases. You can check out our specific evaluation criteria below.
Because advisors need security and compliance, we also made sure each option secures its data and adheres to compliance standards such as the Financial Industry Regulatory Authority (FINRA).
To determine the best, we first considered cost and core features, which include both general and industry-specific functionality. Also considered was financial data compliance, the platform's ease of use, and the level of customer support offered.
This includes monthly rates, free options (trials and/or free-for-life platforms), and any applicable startup costs.
This entails both general and industry-specific features including contact management, asset management, and financial planning tools.
We not only tried the software ourselves, but we also combed through real user reviews regarding implementation and daily use on sites like Capterra, G2, and TrustRadius. We also looked into their knowledge base and CRM resources.
This takes into account built-in data security management and adherence to compliance standards.
We evaluated how customizable each platform is in terms of customizable elements and availability of third-party integrations.
We considered the availability and depth of each CRM’s customer support channels via phone, email, and live chat. Then, we assessed feedback from verified users on G2 and Capterra.
CRM software can take the place of multiple individual tools — spreadsheets, calendars, and word processors, to name a few. Plus, you’ll also avail of features like automation, activity tracking, and lead generation. Do yourself (and your clients) a favor by adopting any one of our top financial advisor CRMs to upgrade your wealth management services. If you need a CRM to help you organize financial data, read our editorial review of the best accounting CRMs.
Alison is a Philadelphia-based technology writer for Selling Signals. She has 15 years of experience in the digital space, and her specialties include comparison guides and reviews across CRM, ecommerce, and various SaaS products. In her free time, Alison has received two HubSpot certifications plus a TEFL certification, as well as leads an online martial arts learning program.
Selling Signals delivers actionable advice for sales and marketing professionals. Learn strategies that help you hit targets, strengthen customer relationships, and win more business. Get expert advice on lead generation, sales processes, CRM software, sales management, and account management directly to your inbox.
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