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Feature Comparison: Practifi vs. Redtail CRM

April 8, 2020

By Allison lasley

In the financial advice space, there are a lot of software options to choose from. 

Comparing products can be confusing, time consuming and stressful to say the least.

But, we want to make your decision on which tools to use as easy as possible, so we’ve compared a few feature differences between Practifi and Redtail CRM below.

Practifi and Redtail CRM: Feature Breakdown 

Some areas where the products differ include but are not limited to Chatter Feed capabilities, opportunity tracking, access to client portals, tagging records, time tracking abilities, sandbox options, and a more modern user-interface.

With the increasing expectations of clients and evolving compliance requirements, it’s more important than ever to choose tools that give you the insights you need to to grow your business, as well as capabilities to create your own unique service offering.

1. Streamline collaboration with Chatter Feeds

Accessible on multiple records such as Client, Partner, Provider records and more; Practifi’s Chatter Feed feature provides an easy and convenient way to keep all related communication within one single record. @mention your team members to check on status updates or simply leave a Chatter post through Practifi’s mobile app to let your team know you took a client out to lunch. Streamline collaboration so everyone can have the most up-to-date information in relation to your records.

2. Strengthen your pipeline with Opportunity tracking
To grow your firm, you need to be able to track potential future revenue for your firm. Practifi helps you do this by tracking opportunities in your pipeline. Specifically, you can create opportunities, which may sometimes be multiple service streams from one Household, in a way that helps you track total potential future AUM. Let technology do the hard work so you can focus on your growth goals.

3. Enjoy a modern user-interface

The days of using outdated legacy systems are no more. With Practifi you’ll enjoy a user-friendly interface that reflects your modern approach to wealth management and financial planning. Designed with user-experience best practices and carefully crafted by user-feedback, Practifi is one of the industry’s most innovative and tech-forward platforms for RIAs, wealth management firms and family offices.

4. Build deeper relationships with Practifi Portals

Investors of all ages are increasingly interested in monitoring their investment performance, portfolio allocations and overall financial status. An easy way to achieve this is through client portals, which allows firms to provide a transparent and personalized experience for their clients based on services provided. With Practifi Portals, you can do just that, allowing you to strengthen relationships with your clients.

5. Get creative with Tags

Whether you have a group of clients who love a certain type of wine or you want to categorize your staff birthdays, Practifi’s tagging feature makes it easy to organize data and find similar records when you need to—without having to create complicated filters. In our latest release, Practifi Chardonnay, you can not set a Tag to multiple client, contact, provider or partner records. This means you can mass tag records all at once.

6. Test to your team’s delight with Practifi Sandbox

Developers and quality assurance teams are able to do their best work when they have a safe and isolated testing environment to work in. Practifi Sandbox options enable your testing teams to do just that. With each new product upgrade we release, you can utilize Practifi Sandbox full, partial or developer pro options to support successful company roll-outs every time.

7. Easy time-tracking

Your time is valuable, but it can be difficult to track how much time you spend on work for your clients. With Practifi’s native time-tracking feature your team will be able to track all time spent on specific client work down to the second, ensuring you feel confident with your invoicing and billing when it comes time each month. 

Interested in learning more?

This feature comparison is accurate as of April 2020. If you’re interested in learning more about Practifi product features, visit our features page for more details.

If you’d like to get in touch with a member of our team, contact us today

Get in touch with a member of our team today.

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