The top four benefits of CRM software for financial advisers

Without clients, a financial advisory firm cannot function; therefore, the relationship an adviser builds with their client is the oil in the joints that keeps the business moving.

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The value of good client relationships cannot be underestimated. The benefits are clear, as set out in an FT Adviser article back in 2013.

Staying on top of increasing numbers of unique clients in a growing business needs some technological help, which is where dedicated CRM software comes in. There are numerous ways advisers are benefiting from using CRM software, but here are four of the most notable:

Better client experience

An adviser who can remember not just your name but also your personal details and interests will create a better impression. CRM software can bring this information to an adviser’s fingertips in preparation for the client meeting. In today’s financial world, clients are looking for experiences that are customised to them in this way, with a good customer experience more likely to generate a referral.

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Improved revenue

Building more trust and loyalty means that customers become more comfortable with their advisers managing more of their investments, ultimately resulting in more fees. Data from CRM systems can be used to identify whether specific services, such as retirement planning or estate planning, are appropriate. Data from the systems can also be used to analyse adviser performance and to retain and recruit advisers.

Increased efficiency

An adviser cannot provide the perfect client experience on their own, not even in small firms. A CRM platform that enables various employees to access the data means that they can work together as a team and achieve their goals more efficiently. CRM software can also automate repetitive tasks, such as notifications, invoices, reports and emails, which can save thousands of hours per year. Software products that streamline front and back office roles from providers such as have made a significant difference in efficiency for independent financial advisers.

Deeper insights

Analysis of CRM data can provide a deeper understanding of clients’ needs and any trends across a client base. These insights can be invaluable in terms of responding to the markets and improving the client experience. A strong financial adviser will know the more they use a CRM system, the more value it will provide.

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