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6 Best CRMs for Financial Advisors in 2023

Name: Zoho CRM
Item: Zoho CRM
Rating: 4.5
Author: Alison Barretta

Written By

Alison Barretta

Jun 23, 2023

2 minute read

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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.

Zoho CRM: Best overall CRM software for financial advisors (free starting price)
Freshsales: Easiest-to-use CRM with advanced sales features (free starting price)
Pipedrive: Best financial advisor software for a la carte add-ons (14-day free trial)
Salesforce: Best CRM software option for robust financial reporting (30-day free trial)
Wealthbox: Best financial advisor CRM software for customizations (14-day free trial)
Redtail CRM: Best CRM for creating financial information products (30-day free trial)

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.

Zoho CRM: Best Overall Financial CRM

Helps you generate and nurture leads through digital marketing and communication.

Price Range: Free to $52 per user, per month (15- to 30-day free trial)

Overall Rating

4.5

Cost

4.7

Core Features

4.9

Ease of Use

3.8

Security & Compliance

5.0

Customization

4.7

Customer Support

3.5

Pros

Integrates with help desk tools
Comprehensive client information
Smart follow-ups with Zia AI

Cons

Not a full-fledged finance CRM
Only three users on free plan
AI only available on Enterprise up

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.

Zoho CRM Pricing

Free Version: Supports up to 3 users
Standard: $14 per user, per month
Professional: $23 per user, per month
Enterprise: $40 per user, per month
Ultimate: $52 per user, per month
Free Trial: 15 to 30 days
Access to Zoho One Marketplace Apps

Zoho CRM Key Features

Client Management: Tend to client needs via Zendesk and Zoho Help Desk integration.
360-Degree Client View: Track clients’ contact info, assets, interactions, and more.
Zia AI Assistant: Suggests follow-up actions and optimal times for client outreach.
App Integrations: Includes Zoho’s suite of apps plus popular third-party software.

Freshsales: Best for Advanced Sales Features

Offers an intuitive, easy-to-use pipeline tool with robust sales and lead generation features.

Price Range: Free to $69 per user, per month (21-day free trial)

Overall Rating

4.4

Cost

4.7

Core Features

4.2

Ease of Use

4.0

Security & Compliance

5.0

Customization

4.3

Customer Support

4.4

Pros

Built-in chat and dialer
Accessible user interface
AI-powered sales features

Cons

Not a finance-specific CRM
Lacking some marketing features
Only one pipeline in Growth

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.

Freshsales Pricing

Free Version: Supports up to 3 users
Growth: $15 per user, per month
Pro: $39 per user, per month
Enterprise: $69 per user, per month
Free Trial: 21 days
Integration with Freshwork's free marketing and service platform tiers

Freshsales Key Features

Interactive Reports and Dashboards: Turn data into easy-to-read charts and graphs.
Visual Pipelines: Kanban-style pipelines are simple to organize — just drag-and-drop.
AI Features: Forecast sales and automatically nurture top prospects using AI.
Live Chat and Phone Dialer: Communicate with prospects via chat or phone.

Pipedrive: Best for A La Carte Add-Ons

Offers advanced sales and marketing tools you can purchase separately to nurture leads.

Price Range: $14 to $99 per user, per month (14-day trial)

Overall Rating

4.1

Cost

3.2

Core Features

4.4

Ease of Use

3.9

Security & Compliance

5.0

Customization

4.4

Customer Support

4.1

Pros

Multiple, visual pipelines
Auto-tracks calls & emails
Smooth app integrations

Cons

Limited phone support
No bulk emailing
Clunky reporting tools

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.

Pipedrive Pricing

Essential: $14 per user, per month
Advanced: $29 per user, per month
Professional: $49 per user, per month
Power: $64 per user, per month
Enterprise: $99 per user, per month (minimum 10 users)
Free Trial: 14 days
Pay for a la carte add-ons for sales, marketing, and more
Access to Pipedrive Marketplace

Pipedrive Key Features

Pipeline Management: Track your sales process with clear and customizable pipelines.
Web Forms: Embed forms into your landing pages or websites, or send them via email.
Prospector: Find new leads from over 400 million profiles and 10 million companies.
Chat Features: Tailor conversations with your web visitors via live chat or chat bots.

Salesforce: Best for Financial Reporting

Helps you track your performance with robust reporting tools and real-time dashboards.

Price Range: $25 to $330 per user, per month (30-day free trial)

Overall Rating

3.9

Cost

2.7

Core Features

4.7

Ease of Use

3.5

Security & Compliance

5.0

Customization

4.6

Customer Support

3.7

Pros

Customizable reporting dashboards
Intelligent sales forecasting
Built in phone dialer

Cons

Sometimes hard to learn
Setup and customizing take time
Can be expensive for some

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.

Salesforce Sales Cloud Pricing

Starter: $25 per user, per month
Professional: $80 per user, per month
Enterprise: $165 per user, per month
Unlimited: $330 per user, per month
Free Trial: 30 days
Access to Salesforce AppExchange

Financial Services Cloud Upgrade Pricing

Starter Enterprise Edition: $250 per user, per month
Starter Unlimited Edition: $425 per user, per month
Growth Enterprise Edition: $325 per user, per month
Growth Unlimited Edition: $500 per user, per month
Free Trial: 30 days

Salesforce Sales Cloud Key Features

Workflow Automation: Streamline data entry, lead generation, and scheduling.
Contact Management: Segment lists and group clients by household or family.
Milestone Tracking: Be alerted to clients’ personal and business milestones.
AppExchange: Integrate hundreds of apps for finance, marketing, and much more.

Wealthbox: Best CRM for Customization

Allows you to create a one-stop hub for wealth management tailored to your needs and goals.

Price Range: $45 to $79+ per user, per month (14-day free trial)

Overall Rating

3.7

Cost

2.3

Core Features

4.6

Ease of Use

3.9

Security & Compliance

3.8

Customization

4.8

Customer Support

3.9

Pros

Vast selection of finance integrations
Two-way sync with email clients
Highly-rated mobile app

Cons

Lacks user support options
Limited features with Basic plan
Little guidance during setup

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.

Wealthbox Pricing

Basic: $45 per user, per month
Pro: $59 per user, per month
Premier: $79 per user, per month
Enterprise: Contact for quote
Free Trial: 14 days

Wealthbox Key Features

Integrations: Over 80 apps available spanning finance, compliance, and risk analysis.
Data Security: Use 256-bit encryption, two-factor authentication, and a session timeout.
Wealthbox Email: Two-way sync with Gmail, Outlook, and other popular email clients.
Mobile App: The full-featured mobile CRM syncs with the Wealthbox desktop app.

Redtail: Best for Creating Financial Info Products

Helps you promote services and market information sessions with its built-in seminar tool.

Price Range: $39 to $59+ per month (30-day free trial)

Overall Rating

3.6

Cost

3.1

Core Features

3.7

Ease of Use

3.5

Security & Compliance

4.5

Customization

3.8

Customer Support

3.2

Pros

Generate leads with seminars
Free database migration
Ample financial app integration library

Cons

Core features somewhat thin
Only 15 users per database
Slight learning curve

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.

Redtail Pricing

Launch: $39 per user, per month for 5 users
Growth: $59 per user, per month for unlimited users
Enterprise: Contact for quote
Free Trial: 30 days

Redtail Key Features

Seminar Management: Run virtual seminars, then track attendance and other metrics.
Campaign Management: Keep tabs on success rates of email and call campaigns.
Free Database Migration: Move data from one provider to Redtail at no extra cost.
Unlimited Resources: Flat monthly rate includes unlimited leads, contacts, and tasks.

Top 4 Financial Advisor CRM Features

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.

How We Evaluated the Best Financial Advisor CRMs

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).

Evaluation Criteria

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.

Methodology weights

Cost 25%

Core Features 25%

Ease of Use 15%

Security & Compliance 15%

Customization 10%

Customer Support 10%

Bottom Line: Best CRM for Financial Advisors

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 Barretta

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.