Best Free CRM Software For Financial Advisors

Our free client relationship management (or CRM) software for financial advisors is easy to use. Stay organized, meet compliance regulations, and easily track your prospects and existing clients with our intuitive, customizable platform. Free CRM software for financial advisors will save you money and time, and keep you organized so you can spend more time on the “people” part of your business. There’s no need to run around and hope that everything is documented.

Don’t forget, free doesn’t mean not useful! From free to paid there are a lot of options out there. This blog post will put you through the list of the best free CRM software for financial advisors.

Salesforce

Salesforce may not be the easiest solution to implement, but its wide array of components make it the most customizable for financial advisors who want customer data their way.

Pros

20+ years of industry experience
Fully customizable
Integrates with more than 100 data sources
AI-driven analytics
Mobile access

Cons

Steep learning curve for less tech-savvy users
A bit on the pricey side

Since 1999, Salesforce has been expanding its global dominance in the CRM space, giving it the scale to compete each year as one of the top CRM companies. Although Salesforce is a leading CRM provider across many industries, its Financial Services Cloud is an advisor-specific product. The software-as-a-service (SAAS) pioneer’s solution has been described as big box full of state-of-the-art components that can be put together any way a customer wants, making it our choice as the best overall solution.

With Salesforce, financial advisor firms get a mature platform offering integrations with several other marketing automation tools. Salesforce is one of the few CRM solutions embedded with artificial intelligence to analyze data, predict sales trends, and make recommendations based on your workflow processes. Salesforce can integrate with more than 100 data sources to create a massive data bank, providing advisors with deeper insights into clients’ needs, interests, and preferences.

Salesforce’s most significant advantage may also be its biggest disadvantage depending on an organization’s technology capabilities. Its platform comes with so many tools and features, it may be beyond the capacity of some users to fully grasp all of its capabilities. But, it’s that wide array of components that enables organizations to customize the platform to specific needs.

Salesforce is also optimized for mobile access on any device.

Redtail Technology

There’s a reason Redtail Technology has the largest market share of any CRM provider: It consistently provides the best user experience.²Pros

Easy-to-use interface
Wide and deep integrations with popular industry tools
Includes seminar management tool
Redtail University for free, in-person training
Priced per database with up to 15 users
Mobile access

Cons

Doesn’t come with built-in phone/video conferencing
Pricing may be a little expensive for small firms or independent advisors

Since 2003, Redtail Technology’s CRM offering has become the most popular CRM solution for financial advisors. While it has some unique features to distinguish it from its peers, the main reasons for its popularity are its robust platform with an easy-to-use interface, a wide selection of integrations, and its short learning curve, which is why it wins our category of best user experience.

Redtail has managed to create a straightforward, advisor-specific solution without sacrificing the critical features advisors need in a CRM. These include lead and contact management, workflow automation, customizable reporting, as well as the capability to integrate with popular financial tools such as Morningstar, MoneyGuide Pro, LaserApp, and Riskalyze.

Redtail’s CRM solution also includes two distinct features that its customers find attractive: seminar management and Redtail University. The seminar management feature allows advisors to add seminar marketing to their CRM to manage pre-and post-seminar activities. Redtail University is the first and only feature of its kind, offering in-person, online classroom training along with individualized support based on your particular needs.

Redtail’s platform has been optimized for use on any mobile device. While its platform doesn’t include built-in phone or video conferencing, users can purchase RedtailSpeak as a compliant communication platform integrated with its CRM platform.

Wealthbox CRM

Wealthbox CRM is made by Starburst Labs. They run out of New York City and Providence. Wealthbox is a CRM platform that runs on desktop, web, and mobile versions. It’s easy to use and requires little training. This is a great tool for solo financial advisors as well as client relationship management advisory firms. Some key features include good customizable workflow templates. Wealthbox has good tools for pipeline management and opportunity management. These help financial advisors with their sales process to get new clients. This platform includes CRM features like task management tools and document management. The ability to scale up makes this a top CRM tool for financial advisors. Wealthbox has a free trial.

Wealthbox CRM is best for:

Financial advisors
Contact management
Personal use

NexJ CRM

AI is the heart of this CRM, helping busy advisors streamline workflow and provide personalized recommendations to clients.

NexJ CRM uses artificial intelligence to help advisors streamline workflow and engage with clients. It’s not the only CRM on our list to offer AI, but its NexJ Nudge-AI — a combination of AI, machine learning, and natural language processing — is best at providing tailored financial advice for customers. Nudge AI also makes investment recommendations and suggests optimum times to follow up with clients so busy advisors are on hand with timely, useful info.

NexJ CRM Key Features

NexJ Nudge AI: Use machine learning to provide insights and engage customers.
Rules Engine: Configure for workflows, forecasting, account alerts, and much more.
Householding: Group contacts by address, relationship, referrals, and associations.
Deployment Options: Run NexJ on-premise, private cloud, or as a hybrid.

Pros:

Impressive 90-day trial
AI-powered sales forecasting
Multi-faceted rules engine

Cons:

No upfront pricing available
Could be more customizable
Might be overwhelming for some

Junxure (Advisor Engine)

Junxure is made by Advisor Engine. This is a software solution for doing CRM with business process automation. It’s great for creating better client relationships. Junxure helps capture financial data and does activity tracking. It automates real-time tips for financial advisors. These help with things like doing follow-ups. It’s also great for reminders and task management. There are many customization options with Junxure to help CRM companies get more clients. You can customize templates for things like email marketing and social media posts. Client data segmentation is good for advanced searching and filtering. With this, you get the client information you need quickly. There is a free trial from Junxure. It’s good for 30 days.

Junxure is best for:

Financial advisory firms
CRM with financial data
Small businesses

UGRU CRM

UGRU CRM helps financial planners handle multiple facets of wealth management, from retirement income to investments. UGRU CRM boasts an impressive suite of financial planning tools for advisors who deal in multiple facets of wealth management. Whether that’s tracking liquid assets like charitable bequests, planning retirement income, or forecasting Roth IRA conversions, UGRU CRM has it covered. Building client profiles is easy with data aggregates from over 10,000 financial institutions plus integration with Aqumulate, which pools info from an additional 11,000 sites.

UGRU CRM Key Features

Financial Planning Module: Create detailed plans for retirement, investing, and more.
Data Aggregation: Build client profiles by pooling data from over 10,000 institutions.
FINRA Compliant: Data is backed up daily and secured with 256-bit encryption.
Collateral: Comes with pre-made PowerPoint slides, call scripts, and email templates.