The Heart of a Tech Stack: Your CRM Software

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The client relationship management (CRM) platform has become the beating heart we can’t live without.

As Michelle Feinstein, vice president of wealth and asset management industry solutions and strategy at Salesforce noted on a recent “CRM Unlocked” podcast, CRM “represents the heartbeat of the technology stack. This is not just a tool where you're going to load your leads and contacts, and only use it to capture information in that way. So many firms are looking at it as a solution to enable their digital transformation efforts. So, I look at it as a foundational technology that really helps speed the business process.”

I have long held the central belief that CRM tools would one day become indispensable to the advisory profession and occupy an essential space in the broader financial services technology ecosystem. That day has come – CRM is the ideal hub for an organization’s data. It should function as the foundation of the advisor’s technology ecosystem.

This evolution has occurred because CRM provides advisors efficiency at scale, particularly when it is utilized to its fullest potential. Just like the human heart powers the entire body with blood and oxygen, the CRM must be integrated deeply into the entire organization to deliver on its full potential to maintain healthy data analytics and workflows.