CRM systems
Discover the top suppliers of CRM systems used by wealth professionals, and learn how advice firms are using this technology.
What are the most popular Customer Relationship Management (CRM) systems?
A CRM is a system that collects, organises and analyses customer information, interactions and data throughout the customer life cycle.
A great CRM system can benefit your advice business in a number of ways. CRM software can improve the efficiency of your pipeline management, build better client relationships through improved communication and service, and help your back-office to manage and coordinate client activities.
Research from the 2022 Netwealth AdviceTech Report shows that the top 4 suppliers of CRM software used by wealth professionals and financial advisers includes: Xplan (52.4 per cent of advice firms), Worksorted (10.2 per cent), AdviserLogic (9.8 per cent) and Salesforce (6.2 per cent).
Reports
2022 AdviceTech report
Explore the human side of adviser technology with the 2022 AdviceTech suite of reports on staff, clients and technology suppliers.
AdviceTech and the staff experience
This report examines how technology is linked to staff satisfaction and ultimately client satisfaction. You will learn what you can do to maximise staff engagement and satisfaction in a hybrid working environment, and the support, training and infrastructure required to properly support your staff.
Download the report
AdviceTech and the client experience
In this report we unpack eight important technology trends that matter to clients. You will understand the role of hybrid client communications, the shift to self-service digital tools, how to unlock opportunities with data, and discover the importance of data visualisation in client education.
Download the report
AdviceTech 2022 Buyer's Guide
Technology selection and implementation is challenging. In this guide we provide you with the information to help - with descriptions of over 35 different technologies and the most used suppliers in their categories. The report also examines the factors to consider when selecting a technology partner.
Download the guideHow are advice firms using this technology?
The most popular features of a CRM system include the ability to see client information (97.8 per cent of firms currently use this feature), client contact management and meeting notes (85.9 per cent), document management (76.3 per cent), tasks and workflow automation (66.3 per cent), analytics, reports and dashboards (39.6 per cent), integration with email marketing systems (34.1 per cent) and prospect/lead contact management (28.9 per cent).
Satisfaction with CRM systems has dropped slightly from the previous year, to 3.2 out of five (from 3.5). This could potentially be driven by increasing needs from practices, or an underutilisation of key features, such as analytics/reporting and prospect management.
Almost nine in 10 (88.8 per cent) advice firms use a CRM system in their business to manage client information.
For those firms that have a CRM system, almost all (94.8 per cent) use it daily.
Explore other AdviceTech tools used by wealth professionals
- Accounting software
- Cashflow, budgeting and account aggregation tools
- Client portals
- Cloud-hosted document storage and sharing services
- Cloud-hosted email and communication services
- Commission management software
- CRM software
- Database and system integration technology
- Digital signature tools
- Email campaigns and newsletter management technology
- Investment research tools
- Managed accounts
- Online and mobile advertising
- Online fact-find and risk profiling tools
- Presentation software
- Scaled advice technology
- SMSF administration software
- Social media management tools
- Social media networks
- Superannuation and investment platform
- Survey and client feedback tools
- Task, activity and project management technology
- Virtual online meeting tools
- Website management and blog tools
AdviceTech Resources
More AdviceTech resources
Take a closer look at more AdviceTech related resources in our collection of whitepapers, workshops, articles and podcasts.
Workshop
AdviceTech Roadmap workshop
Develop your AdviceTech roadmap with this free AdviceTech Roadmap workshop. A 90-minute team activity designed to help you prioritise technology solutions and develop a technology adoption strategy for your business.
Access the workshop
Podcast
Capitalising on data with wealth technology
Listen to Paul Campbell, Managing Director of Xeppo, as he shares the important role of data for business efficiency, using data insights to unlock opportunities, approaching data strategy and what to think about on the next technological roadmap.
Listen now
Podcast
Connecting staff and technology to scale wealth firms
Hear Catherine Robson, Founder of Affinity Private Advisors, discuss why recognising your leadership style, building relationships with staff and harnessing technology is crucial to scaling a business.
Listen now
Article
How to decide whether to buy, build or partner
Should you build your own fintech product, buy one off the shelf, or partner with a technology provider to develop a customised solution? This article will help you to make the right decision for your fintech project.
Read now
Article
Embracing AI: Practical next steps for advisers
The evolution of artificial intelligence (AI) has fascinated people across the world, but as automation progresses and AI takes over certain expert roles, people are becoming genuinely afraid for their jobs and livelihood.
Read now
Demo day
Netwealth's AdviceTech solution
Understand how Netwealth can help you see wealth differently and learn how we can support you with market leading technology, excellent customer support and expertise to help your wealth and advice business thrive.
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White paper
The Established Affluent
In Netwealth's 2022 Advisable Australian Report we pay special attention to the Established Affluent, some of the wealthiest and most well-established Australians, and provide a playbook for financial advisers on how to attract, advise and service this key target market.
Download now
White paper
The Emerging Affluent
For wealth businesses to thrive in the future, The Emerging Affluent is a critical market to be aware of and develop key client strategies for. This report is a playbook on how to attract, manage and retain The Emerging Affluent.
Download now