For Startup Advisor, More CRM Struggles

One of the most challenging things I faced when setting up my RIA was deciding on a CRM system. I first used Redtail, but I canceled it on the first day of the trial due to the poor interface and user experience.

Get access to this article and thousands more...

All Financial Planning articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.

Already Registered?

Comments (6)
Canceling RedTail after only one day? I started with RT this fall when I started my RIA and have found it does everything you described in your 6th paragraph.
Posted by John W | Monday, December 09 2013 at 1:27PM ET
How does LACRM score with regards to integrations (compared to Redtail)?
Posted by B B | Monday, December 09 2013 at 3:26PM ET
Finding the right Customer Relationship Management(CRM) Software is a task in itself. There is no one size fits all. You need to go through the products in the market and evaluate the right match in terms of its offerings as also the cost. An extremely comprehensive CRM may not be required at a newly set up firm or even a mid-sized firm. At the same time you cannot have a CRM which does not integrate the various tasks required to be performed by a financial advisor. Speak to other people in the profession and that might help. However set up a trial period and see whether it is upto the mark.
Posted by KIMMY B | Friday, December 13 2013 at 1:04PM ET
I might make an argument that with only one day you didn't give Redtail enough due diligence. The staff there is more than willing to spend time in onboarding and their support, when I've needed it, has been responsive and understandable. I agree with John W, it does everything you described and is one of the more intuitive CRM's we've tried (and used). Also I believe it is scaled well for a smaller or start up firm.
Posted by Chad N | Wednesday, December 18 2013 at 2:25PM ET
Integration was not mentioned in this article, and integration is huge for me. Redtail, while not perfect, integrates with Pershing's NetX360, MoneyGuidePro, and LaserApp, cutting my data entry time by leaps and bounds.
Posted by Thomas D | Wednesday, December 18 2013 at 3:27PM ET
Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

Already a subscriber? Log in here