Letting Go Of The Relationship ‘Baggage’ RIAs Carry Into Their CRMs

Paige Johnson, our Director of Strategic Partnerships and Alliances shared her insights about how financial advisors should approach changing their CRMs with Wealth Solutions Report.

In the article, she shares how a CRM serves as the foundation of an RIA’s tech stack, centralizing client data and streamlining processes. However, many firms rush into customizations before fully understanding the core features or paying attention to the needs of non-advisor roles like compliance and marketing.

The key to a successful financial advisor CRM implementation lies in starting slow and building a solid foundation. Focus on leveraging core CRM features and ensuring basic usability across all roles before diving into complex customizations.

If you’re unhappy with your current CRM, Paige encourages you to consider a new CRM as an opportunity to optimize your processes:

• Don’t Just Migrate: Avoid simply transferring old data and workflows. A fresh start allows for a more efficient setup.
• Streamline and Cleanse: Take the opportunity to clean up your data, evaluate what’s truly essential, and streamline your processes for improved efficiency.

As you evaluate new systems and partners, prioritize usability and collaboration across all roles:

• Assess Needs Holistically: Evaluate how the CRM caters to compliance, marketing, operations, and advisors.
• Start With the Basics: Prioritize core functionality and ease of use over extensive feature lists or complex workflows initially.

Click below to read the full article!

Read more