What is CRM wealth management?

Want to increase your firm’s wealth management productivity? Fortunately, there are a number of useful tools for financial advisors, some traditional and some more modern. Among these options, the tool that has come to transform the relationship between client and advisor to a large extent is the wealth management CRM.

However, what is CRM for wealth management, what are its benefits, and how can it improve the business and customer experience? As an innovative digital technology, it is likely that little is known about the solutions that a CRM presents for finance services. That’s why, in this article, we explain it in more detail.

What is Wealth Management CRM?

Wealth management CRM is a tool that aims to improve and optimise your wealth management service to ensure positive results for your clients. CRM solutions are becoming more and more integrated and functional, it is now easier to manage multiple clients and to follow them up financially and efficiently, which is beneficial for companies that want to form a lasting bond of trust with their clients.

How does a wealth management CRM work?

Wealth management platforms are designed to collect information from various sources, analyse it and store it automatically. That way, both advisors and client service members have access to the same information and it can be kept up to date. A CRM for wealth management firms can be customised to meet the specific needs of any firm.

Benefits of a CRM for wealth management

• The CRM helps the financial advisor to keep track of all his contacts and clients.
• Thanks to your information storage, all data is at your fingertips. Therefore, it is also easier to know the needs and objectives of each customer.
• A wealth management CRM is able to help plan the client’s financial future.
• Automation of time-consuming tasks and centralised data.
• It significantly improves the work productivity of each financial advisor.
• The CRM integrates dedicated asset management functionalities to maximise projects and deliver better results for the company and the customer.
• Finally, being a software that contains customer data and determines a profile to meet the customer’s needs, it generates a feeling of trust with the company and a desire to maintain a long-term relationship.

Choosing the right wealth management CRM

For a company, the choice of a wealth management CRM is important. Therefore, it is essential to look for software that is reliable, has excellent reviews and respects data confidentiality. It should also have permanent access to customer data; and it should perfectly meet the company’s main needs. 

If you want a CRM system to improve your wealth management productivity, then Asklogix contains the CRM tools you need to stay in touch with your customers in real time. Our 100% native Salesforce application is based on the force.com platform and lives entirely in Salesforce, one of the most user-rated software.