Independent Advisors Still Lag When It Comes To Consumer Relationship Management Software Usage


For one thing, the simple fact that 75% of the industry is now using customer relationship management software -- even if it's a solution as vestigial as using Outlook's contacts -- is striking.


Gone are the days when most advisors were a low-tech bunch, it seems.


But not all industry channels are created equal where CRM is concerned, apparently. Only 23% of wirehouse brokers either don't have or don't want to use any CRM system, but that percentage jumps to 36% of the self-clearing independent brokers and a full 39% of RIAs.


Do advisors at smaller firms simply not need high-tech software? Or do they find it harder to justify the expense?


The Aite Group wants all advisors to use some version of this type of software -- they even find it essential on a "now, more than ever" basis.


They like Salesforce and Redtail for smaller advisors, or Microsoft and NexJ for the big guys.




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