The Best CRM Setup for Wealth Managers

A Configuration Specific to Financial Services

The profession of wealth managers demands long-term tracking, perfect traceability, and detailed client segmentation. The CRM must address these needs by consolidating all data related to assets, goals, and transactions. Furthermore, it should integrate with banking, tax, and legal systems for a seamless experience. Consequently, a tailored CRM boosts advisory quality and responsiveness.

Types of Contacts to Create

To manage clients effectively, create these categories:

Individuals (direct clients)
Record each person’s tax status, income sources, and financial objectives.
Families or couples (shared accounts)
Combine multiple individuals’ details to monitor a joint portfolio.
Corporate clients (holding, real estate companies, LLCs)
Include legal structure, leadership information, and financial statements.
Partners (notaries, lawyers, insurers)
Maintain contact details, areas of expertise, and collaboration history.

This segmentation allows precise targeting of advice and services.

Modules to Activate

Enable the following modules for a fully functional CRM:

Asset Tracking and Allocation
Display ownership of real estate, financial instruments, and business interests.
Meeting and Document History
Store all appointment dates, meeting notes, and attached files per client.
Automated Follow-Ups (annual reviews, contract signatures)
Schedule reminders for yearly reviews, contract renewals, and e-signatures.
Document Management (KYC, tax documents)
Centralize all required paperwork, ensure compliance, and follow regulations.
Client Segmentation by Investor Profile
Categorize clients by risk appetite, investment horizon, and tax status.

These modules ensure smooth operations and rapid client support.

Relevant Custom Fields

Add custom fields to enrich each client record:

Income and Tax Situation
Note earnings, tax regime, and applicable wealth taxes.
Asset Breakdown (real estate, financial, business)
Detail the value and proportion of each asset type held.
Wealth Objectives (inheritance, retirement, tax optimization)
Record the client’s goals to tailor strategies and products.
Contract End Dates and Key Milestones
Track policy expirations, insurance maturities, and investment lock-ins.

These details enable automated alerts and customized reporting.

Example Client Relationship Cycle

Initial Contact via Referral or Website
The prospect submits a form or comes through a personal referral.
Discovery Meeting
The advisor gathers all information on assets, liabilities, and short- and long-term goals.
Sending the Advisor’s Report and Signing the Engagement
The CRM auto-generates a personalized report, and the client e-signs the engagement letter.
Implementing Solutions (investments, life insurance, real estate funds)
The advisor executes portfolio adjustments, opens accounts, and sets up contracts.
Automated Annual Review and Adjustments
Thirty days before the anniversary, the CRM sends a reminder and starts report preparation.

This cycle ensures consistent follow-up and sustained trust.

Real-World Use Case

A wealth management firm uses this CRM to automatically schedule annual reviews. Each client receives an email thirty days before their meeting, with a link to choose a time slot. Then, the advisor accesses a complete history to prepare appropriate adjustments. As a result, tracking quality improves and client satisfaction rises significantly.

Conclusion

By 2025, a tailored CRM becomes essential for wealth managers. It centralizes all data, automates follow-ups, and customizes every interaction. Consequently, internal processes become more efficient, client relationships strengthen, and business performance improves.