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Why CRM Software is Beneficial for Financial Advisors

Aug 22, 2018, 3:00:00 PM

CRM software is particularly effective in the financial advising industry. Now more than ever, financial advisors rely on statistics to make the most prudent decisions. CRM software makes this possible by collecting, organizing, and presenting data.

A recent Tech Page One article discusses the benefits of CRM software for financial advisors . According to the article, CRM software improves the overall business process while still reducing costs.

“These systems boost productivity and reduce costs. They allow advisors to store data so that it’s easier to access and analyze, to monitor communications with clients within their practices, and to execute transactions. Some leading firms in the advisory space say that they’re handling four times their previous workload with the same-sized staff. Others say that they’ve linked their CRMs to dramatic growth in assets under management and revenues.”

Data collection is the most important benefit for financial advisors. They not only have access to more data, but it's also presented in a way that's easy to access and understand. This gives advisors a significant edge over their competitors.

Improved communication also comes with CRM software. Nowadays, clients want to consistently be in touch with their financial advisors. Communication now plays a more important role than ever, and financial advisors have to respect this. CRM software like ACT! or Hubspot make communication with clients easier and more organized.

CRM software also can be integrated into the transaction process. This makes transactions easier for both advisors and clients. The system is easy to monitor so businesses can instead focus on the data and communication aspects.

All of these benefits combined make CRM software an essential component of a financial advisor's practices. Despite all of the services offered, CRM software is a long-term investment and will even reduce expenses.

If you are a financial advisor and would like more information about CRM software, contact us.
Steve Stroz

Written by Steve Stroz

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