How Financial Services Firms Can Make the Most of their CRM

How Financial Services Firms Can Make the Most of their CRM

Posted by Tracie Hummel on Jun 1, 2016 9:24:38 AM
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crm_integration_with_border.pngAccording to a survey conducted by Schwab Advisor Services and published in Financial Advisor Magazine, less than 20 percent of financial advisors believe their firm is doing the most they can with their CRM system. The same survey indicated that 98 percent of advisors most often use their CRM to store client information, and 61 percent use their CRM to prepare and send client communications. While these two functions are powerful capabilities of a CRM, they only scratch the surface of what financial services firms could do with their existing CRM.

One simple way these firms can maximize the value of their CRM is by integrating it with other applications they may have in place such as their client onboarding solution or asset movement system. We asked one of our clients how integrating their CRM with their IFS solution has made an impact for their firm, and this is what they had to say:

“In many respects the viability and effectiveness of our CRM hinges on the ability to fully integrate with our brokerage account servicing solution. IFS integration capabilities, such as SSO, open data architecture, deep linking, two-way client data updating, and customizable user interface, allow us to present the IFS application as a component within our CRM. Our advisors can initiate and manage brokerage transactions from the CRM and often don’t know where one application ends and the other begins. As we continue to add more integrated brokerage transactions into the CRM, our advisors will be more effective and productive, which is the promise we envisioned for our CRM.”

In addition to maximizing the value of your CRM, integration between a CRM and IFS solution bring many additional benefits, including:

  • Two-way updates between your CRM and IFS solution
  • Increases efficiency by eliminating the need to rekey data
  • Open new accounts faster
  • Make account maintenance easier by knowing data is updated across systems
  • Customizable to meet your unique needs

To learn more about the benefits of integrating your CRM with our Onboarding or other process automation solutions, download our whitepaper by clicking below.

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Topics: Business Process Automation, Onboarding, Case Studies

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