Best CM software??

56 replies [Last post]
bluestars80's picture
Offline
Joined: 2007-07-12

I was provided different versions of Outlook, but they are suck,imo.  Is Broker's Ally still the big dog? 
I want an all-in-one that reminds me of stuff I need to do, so I want the pop-up feature that gives you the 10 folks you need to call each day, etc.......
Thanks..........
 

Ashland's picture
Offline
Joined: 2007-03-07

ACT! for Advisors is terrific - expensive, but terrific.

san fran broker's picture
Offline
Joined: 2006-02-25

Junxure-i
www.gowithcrm.com
 
Best there is...

Dust Bunny's picture
Offline
Joined: 2007-05-07

Act for advisors is what I use too.

kap39's picture
Offline
Joined: 2007-04-02

any opinions on salesforce.com??

troll's picture
Offline
Joined: 2004-11-29

No system is perfect.  The trick is to find a good one, like some of those cited above, and then have the discipline to stick with it and not use multiple lists or scraps of paper.  It's harder than it sounds until you build up good habits.

Squash's picture
Offline
Joined: 2008-08-08

Anyone using Pareto Systems? Any feedback?

gvf's picture
gvf
Offline
Joined: 2008-07-01

We're using Goldmine, the newer 9.0 version.  It's pretty sweet, but for smaller gigs, ACT is ok too.  

now_indy's picture
Offline
Joined: 2006-07-28

www.redtailtechnology.com

It's $50/month for up to 10+ users. It's pretty good (calendar, customer database, etc.)

Morphius's picture
Offline
Joined: 2007-07-21

now_indy wrote:www.redtailtechnology.com

It's $50/month for up to 10+ users. It's pretty good (calendar, customer database, etc.)That price must include a discount offered to your b/d.  Normal price is $65/mo.Best part about it is it's web based. 

now_indy's picture
Offline
Joined: 2006-07-28

Morphius wrote: now_indy wrote:www.redtailtechnology.com

It's $50/month for up to 10+ users. It's pretty good (calendar, customer database, etc.)That price must include a discount offered to your b/d.  Normal price is $65/mo.Best part about it is it's web based. 
 
Yep, I forgot about the discount. The $50 rate is for LPL reps. 
 
We looked for quite a while for a CRM that could be shared amongst advisors and admin, and RedTail was the best (especially for the price).  And yes, having it web based is very nice. 

walking9's picture
Offline
Joined: 2008-09-30

Thanksk for that Redtail link. Any small RIAs using Redtail, or a better online CM? How about Outlook?

Morphius's picture
Offline
Joined: 2007-07-21

walking9 wrote:Thanksk for that Redtail link. Any small RIAs using Redtail, or a better online CM? How about Outlook?
Not many alternatives in this price range if you want online CRM.  Upswing perhaps but they have yet to demonstrate dependibility over any length of time.
 
Outlook is great but it's not a CRM.   

FVDA_Trade-PMR's picture
Offline
Joined: 2008-09-24

I use RedTail on a daily basis and agree with Morphius's earlier comments -- I think for the price and considering it is web-based, very good system but they aren't the only kid on the block.  I've also used www.salesforce.com but when I compare RedTail against SalesForce -- I believe RedTail is more intune with running a Financial Planning Practice but SalesForce did have a lot of neat features and some ability for customization.

Morphius's picture
Offline
Joined: 2007-07-21

I agree with Frederich that Salesforce is very powerful ASP CRM, but the last time I priced it the cost was about the same for each person as Redtail is for up to 10.  Add in the cost of an industry specific overlay and it is considerably more expensive than Redtail.  

noggin's picture
Offline
Joined: 2004-11-30

I'm starting to like redtail's product. Email is integrated as well as the marketinglibrary which has preapproved letters and email copy.

rep_rep's picture
Offline
Joined: 2009-01-04

Does LPL have a customer database, if so aren't you duplicating the work?

troll's picture
Offline
Joined: 2004-11-29
Gaddock's picture
Offline
Joined: 2007-02-23

You can get a copy of Act on Ebay for around $20. I've been using it for years.

SometimesNowhere's picture
Joined: 2008-12-22

kap39 wrote:any opinions on salesforce.com??
 
I supported Salesforce for a while before I was an FA, and as a sales software it seemed terrific. I can't say much about it in relation to financial services, but I remember thinking that I wished I had it when I was in previous sales positions.
 
And, the support is pretty darn good .

Ash's picture
Ash
Offline
Joined: 2009-03-18

bluestars80 wrote:I was provided different versions of Outlook, but they are suck,imo.  Is Broker's Ally still the big dog? 
I want an all-in-one that reminds me of stuff I need to do, so I want the pop-up feature that gives you the 10 folks you need to call each day, etc.......
Thanks..........
 Before you go spending money, try ZOHO.com.  They have a free CRM tool for under 3 users.  Try it to see if you like it.  Many of these tools are expensive and often are not plug and play.  The biggest question is where does the data come from?ashwww.FAfreedom.com - The Breakaway Experts

Omar's picture
Offline
Joined: 2009-03-19

Are any of the mentioned CRMs (Redtail, Act, Salesforce, Junxure, etc) able to receive client information directly from the B/D.

For example, if you clear through Pershing, will your clients' information (account values) automatically feed in the system as opposed to manually putting it in?

As I look to go Indy, I want to pick a CRM that will provide this if possbile.

Thanks!

FVDA_Trade-PMR's picture
Offline
Joined: 2008-09-24

I've had good experience with Salesforce.com and am now using RedTail.  I don't think any one CRM system can be the best at everything -- pretty much depends on the needs of the Advisors practice but based on my own experience, Salesforce and RedTail do a good job meeting my needs.  Good luck in your CRM search.
 
P.S. Broker's Ally -- gosh -- that has been around forever it seems.  Have they come out with new upgraded versions recently? 

Morphius's picture
Offline
Joined: 2007-07-21

Omar wrote: Are any of the mentioned CRMs (Redtail, Act, Salesforce, Junxure, etc) able to receive client information directly from the B/D.

For example, if you clear through Pershing, will your clients' information (account values) automatically feed in the system as opposed to manually putting it in?

As I look to go Indy, I want to pick a CRM that will provide this if possbile.

Thanks!

You can get to automatic account data feeds, although you might need another step in the process. We use Redtail and get account info updated each night, although that is done via an integration with Black Diamond, not directly from Fidelity. In other words, data from custodian >> Black Diamond >> Redtail.

These integrations are important time savers, although for my money the most important one is not getting it into the CRM but into the planning software. That saves huge time keeping the plan updated with current account values automatically.

Check out http://www.yoursilverbullet.net/ for a listing of various software vendors whose products integrate well together.

Omar's picture
Offline
Joined: 2009-03-19

Morphius,

Thanks so much for that website link. So, you use Black Diamond for your performance reporting, which feeds data into Redtail. So, a couple of quick questions:

1. What type of data feeds into Redtail via Black Diamond? Is it basic demographic (name, address, etc) and account data (holdings)?

2. How much is Black Diamond? Can just about anyone who is independent use them?

Morphius's picture
Offline
Joined: 2007-07-21

Omar wrote: Morphius,

Thanks so much for that website link. So, you use Black Diamond for your performance reporting, which feeds data into Redtail. So, a couple of quick questions:

1. What type of data feeds into Redtail via Black Diamond? Is it basic demographic (name, address, etc) and account data (holdings)?

2. How much is Black Diamond? Can just about anyone who is independent use them?

1. Account info (positions, etc.) feeds into Redtail via BD. I don't believe name/address, etc. feeds in, but we already had that info in Redtail so didn't need to import it so I can't be positive it's not possible.

2. Anyone who pays for BD can use it, but it does have an annual minimum of something around $20K or so (payable monthly) so it may not be economically aimed at smaller RIAs. I seem to recall them saying their target is $50 MM AUM and larger. You can certainly use them if you are smaller i suppose, but it is a bit more expensive.

Hope that clarifies. Give BD a call yourself to get the details.

Omar's picture
Offline
Joined: 2009-03-19

Thanks!

clsmith's picture
Offline
Joined: 2009-06-19

I recently set up an RIA and have been looking into "Redtail" and "Smart Office by EZData".  Are you or anyone familiar with SmartOffice?
 
 

gvf's picture
gvf
Offline
Joined: 2008-07-01

So I was just looking at salesforce last weekend (and playing with the demo they provided), and wow.  I'm totally in love (much more intuitive than GM, faster response, open architecture, etc...).  BUT, one thing that they said is that it has no native email integration (coming from goldmine, I figured this was standard by now).  I see that there are some apps that can be added on to support integrated email.  Does anyone have any experience with Salesforce + email integration? 

borei's picture
Offline
Joined: 2009-07-24

See http://www.linkedin.com/groups?gid=2142314&trk=hb_side_g for a LinkedIn group regards Bill Good.

borei's picture
Offline
Joined: 2009-07-24
eman07's picture
Offline
Joined: 2009-05-19

For those using the Redtail CRM, do you use RedTail email as well, for the benefit of the integration?Thanks!

chief123's picture
Offline
Joined: 2008-10-28

Is there a difference between ACT advisor and ACT? Because someone is selling ACT 2008 for $36... vs ACT ADVISOR 299

chief123's picture
Offline
Joined: 2008-10-28

Ran across something called Prophet today.. seems interesting links in with Outlook.

Effay's picture
Offline
Joined: 2008-04-11

I wanted to try and stick with CRMs designed for financial services/FAs, and, at Morphuis' suggestion, took a look at Upswing.
I like the look and feel of this CRM, and signed up for a trial period.
 
We've been using Redtail, which I find rudimentary, especially the taslks and calendar. To schedule a task or appointment you have to do about 20 mouse clicks, and you cannot seperate tasks and appointments.
 
Will report back in couple weeks!

millionairemind's picture
Offline
Joined: 2009-06-05

kap39 wrote:any opinions on salesforce.com??

I really like salesforce the firm wont let us use it because it is internet based, but i like act as well. If you can go with salesforce.com

noggin's picture
Offline
Joined: 2004-11-30

I signed up for Upswing too. I will post about it when I have had it a couple of months.

LockEDJ's picture
Offline
Joined: 2009-07-06

Squash wrote:Anyone using Pareto Systems? Any feedback?
 
Anybody got an answer on Pareto?

noggin's picture
Offline
Joined: 2004-11-30

After using upswing now for a little bit...
1. A lot more friendly to the user than Redtail.
2. Better Cost than Redtail.
3. Easier to move contacts in by excel than Redtail.
4. Moving from redtail to Upswing.
 
The ease of use is what makes it nicer.

Effay's picture
Offline
Joined: 2008-04-11

redtail, Upswing, Smartoffice
 
 
I gave up on Redtail, and tried Upswing. After 4 days of waiting for customer service to answer an email regarding getting a little help importing contacts, I gave up and moved to EZData's SmartOffice.
Hoooo Boy! This software can do it all, and will work for my practice management for years to come.
Is it as good as the old AG Edwards Brokervision? Naw, not quite. But closer than RT by a long shot, and better than the 1990s crap we had at Jones.
 
FYI, my brothers and sisters.

Broker Fee's picture
Offline
Joined: 2004-11-30

Effay wrote:redtail, Upswing, Smartoffice
 
 
I gave up on Redtail, and tried Upswing. After 4 days of waiting for customer service to answer an email regarding getting a little help importing contacts, I gave up and moved to EZData's SmartOffice.
Hoooo Boy! This software can do it all, and will work for my practice management for years to come.
Is it as good as the old AG Edwards Brokervision? Naw, not quite. But closer than RT by a long shot, and better than the 1990s crap we had at Jones.
 
FYI, my brothers and sisters.

What's the cost of Smartoffice (financial advisor)? Didn't like the fact that the website doesn't list pricing unlike Upswing which openly lists all of their pricing menu...EZ Data should try EZ pricing.

Omar's picture
Offline
Joined: 2009-03-19

Anyone use Protracker?

CFP83's picture
Offline
Joined: 2009-11-14

In trying to find the best CRM for my practice, this post has been extremely helpful!
 
I've already done a good bit of research, and like this post, the three systems that keep coming up are:


  • Redtail

  • Ezdata Smartoffice

  • Upswing

From the sounds of it, several of you that posted on this thread in 2009 switched from Redtail to one of the other two.........so any more feedback regarding the switch??
I would love to hear from all others that have any specific feedback regarding the above systems!

noggin's picture
Offline
Joined: 2004-11-30

I moved from Redtail to Upswing in 2009. I like the switch. Upswing has very few clicks to enter information and if you want to import a list from excel it is pretty simple to do.

CFP83's picture
Offline
Joined: 2009-11-14

noggin wrote:I moved from Redtail to Upswing in 2009. I like the switch. Upswing has very few clicks to enter information and if you want to import a list from excel it is pretty simple to do.

How is the cost comparison between the two?  I'm still unsure if Upswing is actually a web-based CRM like Redtail?

 
Anything that Upswing doesn't do that Redtail did?

LockEDJ's picture
Offline
Joined: 2009-07-06

If it's just you, $37 (Upswing) to $65 for Redtail. Redtail offers economies of scale that help; I believe they are likely to be a touch better in the integration category, especially with MGP; and other bolt-on tools (at a price) like email integration.

If you are starting out, Upswing is easier to learn. Uploading data proved to be no better than entering the data into Excel - there are too many bumps along the way (tags, relationships, data cleansing).

Squash1's picture
Offline
Joined: 2008-11-19

I switched from Redtail to Upswing(my b/d cost on redtail was only$50)... I found upswing much easier to use and quicker. On redtail it takes too many click and redirects to get the info I found..

Squash1's picture
Offline
Joined: 2008-11-19

Gaddock wrote:You can get a copy of Act on Ebay for around $20. I've been using it for years.

Does it matter if it isn't the current year? Do you need the upgrades for ACT to work?

CALI123's picture
Offline
Joined: 2009-01-30

Squash and Noggin - Were you guys storing any documents on Redtail when you switch. How was the conversion?

LockEDJ's picture
Offline
Joined: 2009-07-06

One downside to Upswing ... LaserApp. It does integrate with L-A, but not as well as some of the other CRMS. That may or may not be relevant to you.

noggin's picture
Offline
Joined: 2004-11-30

CALI123 wrote:Squash and Noggin - Were you guys storing any documents on Redtail when you switch. How was the conversion?
I wasn't storing any documents with Redtail so I can't answer that. I just like Upswing primarily because I use it only as a CRM. I am not trying to integrate anything into it. I am just using it to make sure that I have consistent client and prospect contact and to keep the information handy that I need with them. I think it is a good value as I use it.

Please or Register to post comments.

Industry Newsletters
Investment Category Sponsor Links

 

Sponsored Introduction Continue on to (or wait seconds) ×