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.
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.
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.
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.
