Client Management for Financial Advisors – Why Aren’t You Using a CRM?

Curious about client management for financial advisors? Learn how a CRM could change your business.

Client Management for Financial AdvisorsAs an independent financial advisor and/or business owner, you have a lot of acronyms to remember when it comes to keeping your business running at an optimal level. CRM – or customer relationship management – is one you will likely run into, if you haven’t already. Client management for financial advisors is crucial, and a CRM can help you store all of your client and prospect’s information, log notes, and any touchpoints you have had with the individual (email, phone calls, meetings, etc.).

CRM’s are considered a crucial tool for anyone who wants to grow and scale his or her business, but you may be wondering, “Do I really need to a CRM to expand and better run my business?” Here are four reasons we think you should consider it:


1. Find useful data you need in an instant

Ever need to get back to a client quickly but you spend over an hour digging through your inbox for a past conversation or phone number? To operate at optimum levels, you need to be able to find the information you need on a client fast. A CRM can pull up your client’s record in an instant, and within it you will find their information (phone, email, etc.) plus notes regarding your interaction history.

Reviewing this information briefly before contacting your client or prospect can help you connect better during the interaction. You may have a note stating the client’s birthday or wedding anniversary is coming up. Building an improved personal connection with clients, and being able to find the info you need immediately, are some of the top benefits of a CRM.


2. Remember client status

A lot of us assume we are going to remember everything, but it simply isn’t possible (for the majority of us, anyway!) Which prospect seemed interested but asked for a callback at a later time; which client is in need of a follow-up or more information? While you may be able to remember these things on occasion, a CRM will tell you the status of each client to help you determine your next step. This can help you decrease the risk of overlooking a client, or forgetting about one altogether, and instead assist you in keeping all clients on track and satisfied with your follow-up.


3. Keep your data safe

Do you often take notes on scribble pads, napkins, or whatever seems to be close by? Do you prefer to keep all of your data and calendar events in your phone or computer? Paper and pads can be misplaced or thrown away, and electronics can be stolen or broken. But a web-based CRM can help you keep all of your data safe. With an open source CRM, you can choose the service provider/web host that works best for you. Many independent financial advisors choose this route because it lets them manage and maintain all of their business data on a server they choose.


4. Become more efficient

CRMs come with an abundance of tools that can help you become more efficient. For example, through your notes, you may find that a portion of your clients work with the same accountant. Reaching out to that person and creating a referral system can help grow each other’s business. In addition, as CRMs become more technologically advanced, many are able to determine who an email is from and add it to that client’s account before you ever read the email! And last, when you add a new prospect to the system, you can create an automated task list for prospects, which will be carried out instinctively by the CRM (so you don’t have to worry about doing everything!)


These are just a few reasons why client management for financial advisors is crucial. To learn more about CRMs, visit Summit Brokerage Services has been voted the #1 boutique independent broker dealer in the country. Let us show you why! To experience the Summit difference, learn more about our network of independent financial advisors, and begin creating your financial planning documents, visit or call us at (800) 354-5528.


To experience how Summit is working with its Advisors to grow their business, visit


About Summit Brokerage Services, Inc.

Summit Brokerage Services is part of Cetera Financial Group. Summit Brokerage provides a broad range of securities brokerage and investment services to primarily individual investors. Summit Brokerage also sells insurance products, predominantly fixed and variable annuities and life insurance through its subsidiary, SBS Insurance Agency of Florida. Summit Brokerage also provides asset management services through its investment advisor, Summit Financial Group, Inc.


About Cetera Financial Group

Cetera Financial Group® (“Cetera”) is a leading network of independent retail broker-dealers empowering the delivery of objective financial planning advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions.  Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations.  Independent financial advisor support resources offered through Cetera include award-winning wealth management and financial planning and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology.  For more information, visit

*”Cetera Financial Group” refers to the network of retail independent broker-dealers encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, Girard Securities, The Legend Group and Summit Brokerage Services.


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