Financial Planning and CRM tools are Free and you should try them (while you still can)

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21 May 2020
Awaad Aamir

The coronavirus pandemic has fundamentally shifted how advisors engage and communicate with their clients. Those positioned to lead in this environment have adopted digital client onboarding and mobile/digital first strategies (e.g. video conferencing, live chat, digital authentication/KYC, etc.). Moving forward, advisors need to address a widening knowledge gap by proactively engaging clients with personalized content or by making it easily discoverable.

Financial services vendors understand the desire for strong client engagement within the context of severe cost pressures faced by advisors. In the CRM space, NexJ has made a portion of its CRM for Wealth Management and Inform, an AI-based digital content distribution tool, free till September 30th. This includes the ability to:

  • Track client attributes to build investor profiles which allow advisors to personalize their approach
    • Track advisor/client conversations and investment decisions
  • Deliver personalized news and research content
  • Manage household relationships

However, comprehensive CRM capabilities are restricted to the full version of the tool.

On the financial planning front, Advicent has also taken the lead by offering its NaviPlan client portal completely free to new and existing retail clients till December 2021. This includes:

  • NaviPlan's collaborative fact finder feature to expedite the onboarding process
  • Account aggregation to let clients import their accounts from any institution
  • Openeing up their content library for advisors

Other financial planning providers such as Envestnet/MoneyGuide and eMoneyhave always focused on promoting their tools with free trials that last for a few weeks. We believe that more players will begin adopting similar strategies to capture the attention of advisors who are now looking to refocus their technology spend towards more nimble and cost-effective solutions.

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EMEA, North America