CRM system is more suited for advisors looking to aggressively market to new prospects.
My article on Upswing Virtual Office, a new online client-relationship-management system, generated a great deal of interest, so I thought I'd follow up with another new online CRM tool this month: Advisor Tools.
Advisor Tools is a new firm that started up in 2005. The Advisor Tools platform went into beta release in January, and the production version launched in April. Advisor Tools makes some fairly bold statements on its Web site:
"Advisor Tools was developed by listening to the needs of $1MM+ producers. We have evaluated what was most needed to help these Advisors run their business more efficiently.
From this input, we combined the industry's best practices along with the latest technology into a web-based system that is helping Advisors grow their business. Most are seeing 20% or more in the first year alone! Implement our Marketing and Review Managers and you should expect to double your production after the second year!!!
Advisor Tools will help you retain and grow your existing client relationships AND more predictably add new clients/ assets to your book. We are confident that this system will make a real difference helping you achieve your goals!!"
Are these claims realistic, or are they just a lot of fluff? I decided to find out.
According to the firm, Advisor Tools offers the following tools: Contact Manager, Time Manager, Sales Manager, Review Manager, Marketing Manager, and Portfolio Manager.