Best CRM software for financial advisors (2024)

Finding the best CRM for financial advisors is critical if you want to run and grow a successful advisory business. Yet there are many customer relationship management (CRM) software choices, and picking the best one for your business is sometimes tricky. 

To help simplify the research process, we’ve compiled a list of the best CRM software for financial advisors, focusing on costs, fit, and features. Our top selections include: 

• Salesforce for advanced customization
• Zoho as the most affordable option
• Redtail for client experience 

Keep in mind that no CRM software is perfect for every business. So, as you read through this guide, it’s helpful to identify the most critical features and the amount you’re comfortable paying for them. Understanding these key details can be beneficial as you search for CRM options that may work for your advisory business. 

*Reflects the price of the lowest-tier paid plan advertised on the provider’s website in October 2024; prices are subject to change.

Best for: Affordable automation

Free version or free trial: No

Why we like AdvisorEngine for financial advisors: AdvisorEngine (also known as Junxure) has a long, successful history in the CRM software space — helping financial advisors run their businesses and serve customers more efficiently since 2001. The CRM offers its customers a broad range of features, including the ability to import and export data from several financial services companies like Schwab and TD Ameritrade.

The platform also includes numerous business-building tools for financial advisors, such as email templates, social media post templates, and user-friendly web forms. Businesses looking for solutions to simplify the billing process may also appreciate AdvisorEngine. The platform provides automated billing options for advisors who bill in advance or in arrears and for businesses with multiple fee schedules and structures.  

Price range: AdvisorEngine’s base monthly cost is $69 per user per month. Businesses that use AdvisorEngine must sign up for a minimum of three user accounts (equivalent to $207 per month).

• Fully integrates with Schwab, TD Ameritrade, and other financial service companies
• Online client portal
• User-friendly tools for business owners (billing solutions, marketing, web forms, etc.)
• Live customer service (Monday to Friday) and training support available

Best for: No-code automation tools

Free version or free trial: 14-day trial

Why we like Creatio for financial advisors: Creatio CRM has a broad range of online tools with the ability to serve small financial advisory firms and large enterprise-level companies alike. Financial companies can use Creatio CRM to implement automation in many areas of their business, such as lead generation, marketing, payment processing, and customer workflows. Better yet, the platform allows businesses to set up automated features without the need for coding. 

On the negative side, Creatio CRM can be somewhat pricey, especially for small-to-medium-sized businesses. Although the most affordable membership option (Growth) starts at $25 per user per month, you’ll have to pay for the much more expensive Unlimited plan ($85 per user per month) if you want unlimited automation. There are also extra fees for add-on services. 

Price range: Creatio CRM offers three membership options: 

• Growth: $25 per user per month for small business clients
• Enterprise: $55 per user per month for corporate and enterprise clients that need full-scale automation
• Unlimited: $85 per user per month for advanced enterprise clients that need unlimited automation

In addition to monthly user fees, you may also encounter additional expenses. For example, a Premium Support subscription costs an extra 20% of your subscription fee. Access to the platform’s marketing tools costs $15 per user per month. 

• No-code automation capabilities
• Free basic customer support
• Mobile app
• Advanced enterprise-level analytics and tools
• Marketing tools (email, landing pages, website tracking, etc.)

Best for: Client experience

Free version or free trial: Free 30-day trial for new users

Why we like Redtail for financial advisors: Redtail can be a solid CRM for financial advisors looking to improve client retention. The cloud-based platform offers user-friendly tools (like automated texts and emails) to help businesses implement better client communication and build customer loyalty. Workflow automation features are also available to reduce the potential for errors and oversight. 

Users of the Redtail platform also receive free phone and email support. Frequent training webinars are available to help users get the most out of the technology. 

Price range: Redtail offers three primary membership options as follows: 

• Launch: $39 per user per month for up to five users (if paying annually); $45 per user per month (if paying monthly)
• Growth: $59 per user per month (if paying annually); $65 per user per month (if paying monthly)
• Enterprise: You must call for a quote. Additionally, Enterprise plans are customizable but require a minimum license commitment period. 

• Live customer support (no extra cost)
• Online client portal
• Mobile app
• Detailed reporting
• Client communication tools (e.g., automated text, email, etc.)

Best for: Advanced customization

Free version or free trial: 30-day trial available

Why we like Salesforce for financial advisors: Salesforce is one of the top names in the CRM software space for financial advisors and many other types of businesses. The AI-driven platform stands out because it’s highly customizable and has extensive features. Each user can design their own personalized Salesforce experience to meet the unique needs of their business and customers. Plus, the platform can integrate with numerous leading financial service companies. 

However, Salesforce isn’t the most affordable solution on the market — especially if you choose one of the company’s more feature-rich plans. And due to the fact that the platform is capable of performing so many tasks, Salesforce isn’t always easy to set up. On a positive note, there are numerous customer support options you can take advantage of if you need help getting started. 

Price range: Salesforce offers multiple membership options depending on your business’ CRM needs, including several industry-specific options for financial services companies. Base plans include:

• Starter Suite: $25 per user per month (billed monthly or annually)
• Pro Suite: $100 per user per month (billed annually)
• Enterprise: $165 per user per month (billed annually)

Financial Services Cloud plans include:

• Sales: $300 per user per month
• Service: $300 per user per month
• Sales and Service: $325 per user per month
• Einstein 1 for Sales and Service: $700 per user per month

All Financial Services plans are billed on an annual basis. 

In addition to the cost of your monthly plan, there are numerous potential add-on features available with Salesforce. These tools could improve the efficiency of your CRM experience, but they’ll also increase your monthly service cost. Therefore, it’s important to only opt for extra products that are worth the price. 

• Fully customizable
• Integration capability with many other financial services platforms
• Advanced AI tools
• Mobile app
• Advanced reporting
• Industry-leading automation tools

Best for: Small businesses

Free version or free trial: 14-day free trial

Why we like Wealthbox for financial advisors: The Wealthbox CRM is a solution that can work well for many different types of financial advisors. Although the CRM has options for small and enterprise-level firms, the platform may be especially beneficial to smaller firms or newer financial advisors in the beginning stages of building their portfolios. 

Wealthbox offers several user-friendly tools, including pipeline tracking for prospects and clients, which makes it easier to grow your business. The CRM also makes it easy to work with other team members using features like automated workflows and activity streams. Plus, the platform’s integrations with other financial service companies make the CRM more convenient to use. 

Price range: Wealthbox offers four different membership plans based on your business needs. 

• Basic: $59 per user per month (starter-level CRM features)
• Pro: $75 per user per month (core CRM features)
• Premier: $99 per user per month (advanced CRM features)
• Enterprise: Call for custom pricing quote.

• Live customer support
• Contact management
• Mobile app
• Easy to customize

>>MORE: The best CRM platforms for small businesses

Best for: Most affordable

Free version or free trial: 15-day free trial for the Standard, Professional, and Enterprise plans; 30-day free trial for the Unlimited plan; a free version of the software is available for up to three users.

Why we like Zoho for financial advisors: Zoho could be a good CRM solution for financial advisors working with a tight budget but still needing a solution to better organize their businesses. The platform has a free CRM plan for businesses that need a basic way to track leads and manage clients. For financial advisors who want more advanced features, Zoho’s paid plans start at a much more affordable rate compared to many competitors. 

Of course, in exchange for the lower rate, Zoho may have some limitations. Customization options, for example, are somewhat lacking compared to certain competitors. Still, there are plenty of valuable features that can help your business run more efficiently and grow, including automation, analytics, marketing tools, and more.   

Price range: Zoho users have the option to choose between five different membership plans. 

• Free: $0 for up to three users
• Standard: $20 per user per month ($14 per user per month when paying annually)
• Professional: $35 per user per month ($23 per user per month when paying annually)
• Enterprise: $50 per user per month ($40 per user per month when paying annually)
• Ultimate: $65 per user per month ($52 per user per month when paying annually)

• Free plan available (up to three users)
• Advanced automation
• Detailed reporting
• Marketing tools (email, phone, web forms, etc.)
• Client retention tools

>>MORE: Looking for an affordable and simple CRM? See our complete list of the best CRMs for startups and new businesses.

In the guide above, we reviewed over 40 of the best CRM software solutions for financial advisors. Our research included options based on market share, reputation, customer reviews, years in business, and other factors. Next, we narrowed our list by eliminating companies with significant red flags, such as low Trustpilot and Better Business Bureau (BBB) ratings.

For the remaining list of CRM platforms, we analyzed them across five primary categories: pricing, features, scalability, free trial or free version availability, and ease of use. The best CRMs for financial advisors rate highly across these five categories.

Learn more about how we generally rate and review CRM platforms.

Customer relationship management (CRM) software for financial advisors should make it easier for you to manage and grow your business. The best CRM software for financial advisors can track leads, improve client relationships, automate redundant tasks, and integrate with essential financial services partners you (and your clients) work with regularly.

“CRM tools act as a key growth-driver for businesses, but they also allow business owners to center more of their attention on the customer,” says Laurence Capone, Pipedrive CFO and former CFO of ADP. “The key is finding the right tool or platform that creates efficiencies while allowing businesses to stay attuned to changing customer preferences, anticipating their needs.”

>>MORE: Top CRM trends of 2024

As you research the best CRM software for financial advisors, it can help to make a list of key features that different platforms offer their customers. From there, consider whether these benefits might make a difference in your company’s day-to-day operations and if they’re worth the investment. 

Good CRMs allow you to automate routine tasks, such as lead follow-up, email or text reminders to clients, workflow reminders for staff, and more. Automation features can save your company time and prevent important details from slipping through the cracks.

Another important feature to look for is the ability to customize different aspects of your CRM software — and to do so in a user-friendly way. Some CRMs may allow you to customize the layout of the program, workflows, marketing tools, and more. Meanwhile, other CRMs may not be as flexible where customization is concerned, or they may require advanced (and perhaps expensive) coding to implement changes to the software.

Finding a CRM that offers mobile access (especially customizable mobile features) could be a big perk. Mobile CRM capabilities allow you to access existing and prospective customer data anywhere. This ability could make it easier to run your business when you and your team are away from the office. 

The best CRM software for financial advisors should be able to integrate with other financial services platforms — and do so with little effort on your part. Finding a CRM solution that shares data between software programs and systems you and your customers use can save you time and money. 

A good CRM should have tools that make staying in contact with customers easier. Whether a platform offers automated social media integration, email marketing campaigns, calendar reminders, a customer portal, or other features, it is important to evaluate how a CRM will help you connect with your customers. 

“Strong client relationships directly correlate to business growth and profitability for bankers, insurance agents, wealth managers, and financial services advisors,” says Chuck Schaeffer, CEO of Johnny Grow, a technology consultancy for midmarket clients. “The CRM system that best manages the customer relationship will deliver the most significant and sustained value.” 

>>MORE: 8 tips for enhancing customer experiences through CRM

Finding the best CRM software for financial advisors requires research. But it’s also important to understand the features that matter most to your business before you begin testing out potential software solutions. Below are several factors you may want to consider as you evaluate the best CRM platform for your organization. 

• Cost: When it comes to customer relationship management software, some CRMs are more affordable than others. So, it’s important to define your monthly budget and the price you’re comfortable paying before you start shopping around for platforms that meet your business needs. 
• Customer service and training: Some CRM platforms do a better job than others of providing customer service and training to users. It’s also important to research whether customer service requires an additional fee and what hours live customer support is available.
• Ease of use: Certain CRM software is known for being user-friendly and easy to customize. If you’re a small business or building a new financial advisory firm, these types of features might be more important to you.
• Advanced features: Larger businesses may be interested in CRMs that can do more, such as advanced customization, automation, and analytics. These CRMs may be more expensive and more time-consuming to implement, but they may also help your business scale faster when you use them to their full potential. 

Compare and shop for top-rated CRM platforms.

Creatio, Redtail, and Zoho are some of the best CRMs for financial advisors due in large part to their pricing and years of experience. We also like AdvisorEngine and Wealthbox because of their user-friendly features, like automated billing (AdvisorEngine) and drag-and-drop editing (Wealthbox). Meanwhile, Salesforce stands out for advanced customization options throughout the entire platform — from the user dashboard to marketing tools and beyond. 

Zoho is the best free CRM for financial advisors. The free edition supports up to three users and provides essential features for a small business, such as lead management, document storage, and even a mobile app. However, the free version of the CRM is limited compared to other paid software options. 

CRM software can help a financial advisory firm better manage prospective clients and current customer relationships. A good CRM can help financial advisors save time and money by automating redundant tasks and avoiding mistakes. 

New to CRM? Learn more about common CRM implementations challenges — and how to overcome them.