FEE006 | CRM Solutions – The Most Important Tool In Your Fee Based Financial Planning Practice Toolbox


CRM Solutions – The Most Important Tool In Your Fee Based Financial Planning Practice Toolbox

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In This Episode

In this episode, I’m going to talk with your about CRM solutions and why a CRM solution is the most powerful tool in your fee based financial planning toolbox.

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Episode Transcript

“Items Mentioned In This Episode”


2 Responses to “FEE006 | CRM Solutions – The Most Important Tool In Your Fee Based Financial Planning Practice Toolbox”

  1. Scott,

    Have you looked at Redtail or SmartOffice before? I’m contemplating whether or not to use something designed specifically for financial planning or use Salesforce and integrating partners into it.

    I’d like your opinion if you’re looked into Redtail or SmartOffice before making the commitment to Salesforce.

    Thanks for the great podcasts!


    • Hi Daniel,
      I must admit, I haven’t looked into Redtail or SmartOffice in any great detail.

      When I signed up for the SF demo, I did so through their Wealth Management template. This was an eye opening experience to say the least and reinforced one thing that I have found with all other programs that claim to have a Financial Planning version. I found that everyone else’s rendition of what a financial planner needed was misaligned. So, when I opted to move forward with SF, I asked them to provide me with a stripped down, no template version that I could build up on my own – for my own needs. This was the best decision I ever made.

      You see, I knew what I needed the software to do for me. I knew what information I needed to keep track of. So, instead of trying to fit my business into someone else’s template, I built my own from scratch.

      Now, the customization I have built into SF very quickly differentiates me from anyone else. SF is so robust and so customizable that if you let your mind go and dream up a workflow or automation that you think would make a difference in your business, a good SF partner will be able to build it in to your install. My only caution is to make sure you are following their best practices. When I started, I thought I knew how my business was going to run and how my software was going to run it. Then, I asked my SF partner to make SF do exactly what I wanted it to do. What I didn’t realize is that SF is smarter than I am when it comes to setting up best practices so I had someone build something on SF that had limitations.

      It wasn’t until I needed some new customization that I interviewed a few firms, and told them what I wanted SF to do. One of those firms told me that unless I followed the best practices, I would never accomplish my goal. Boy was I glad I listened to them. I originally designed things all wrong. I told them what I wanted to accomplish and asked them to outline for me what I needed to do to utilize SF’s best practice model and still get what I wanted.

      Every since doing this, my staff has told me numerous times how awesome SF is. I can report on key metrics that I would never have been able to do before and the system doesn’t let anything fall through the cracks. I have automated a ton of workflows and processes so that things happen without me needing to do anything. It all just happens and works. Two things that my old (FrontRange) solution could never live up to.

      I hope this helps. As long as there are established “best practices” for the service you are using and you are able to find someone who can ensure you are leveraging off of those best practices to build your system, I would recommend you start from scratch and work your way up from there as you need more functionality. Fee based financial planning is pretty straight forward when you boil it down to it’s essence. As a result, I abide by the following rule – “Just because you can, doesn’t mean you should.” This is especially true with software. Just because something sounds like a good idea, unless it adds to the bottom line, it probably shouldn’t be developed.

      Please let me know if you have any further questions relating to this.


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