Whether you’re shopping for a new platform to replace your current one or just starting your advisory business, you might consider Wealthbox CRM. Wealthbox is a modern CRM that offers advisors everything they need to connect with prospects, clients and team members. Before deciding to move forward, it’s important to ensure it’s a good fit for your firm. Let’s take a look at what the platform offers and whether it’s a good fit for you.

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What Is Wealthbox CRM?

Launched in 2014, Wealthbox is a top-rated CRM for financial advisors and wealth managers. The platform has earned many accolades based on its ease of use and the return on investment it generates for its users.

Unlike some of its competitors, Wealthbox CRM is designed specifically for the unique needs of financial professionals. The platform offers solutions for:

Advisors
Wealth management firms
Family offices
Banks and credit unions
Broker-dealers
Trust companies

Wealthbox CRM is developed, operated, supported and owned by NYC-based Starburst Labs, Inc. Its applications are hosted with Amazon Web Services.

Wealthbox CRM Features

An advisor reviews the features for Wealthbox CRM.

Every CRM is different regarding the features offered and the overall functionality. Here are some of the most notable features included with Wealthbox CRM:

Contact management: Wealthbox’s contact management interface enables you to view client details in one place, including their financial information and your communication history. You can choose which data to capture, as well as categorize your contacts using tags. You also have control over who can view client data within the interface.
Wealthbox mail: The Wealthbox Mail feature syncs with your existing email account, allowing you to send and receive messages without leaving the Wealthbox platform. You can also add shared email accounts for easier collaboration among different members of your team.
Opportunity tracking: The Opportunity Tracking tool allows you to visualize your entire book of business and filter by users or where a prospect is in your sales funnel. You can add notes to individual files or make a status update to track a prospect’s progression as you work toward closing sales.
Workflows: Automation can help increase your business’s efficiency and streamline your processes, so you can focus on other tasks. Wealthbox equips you with automation tools and templates you can use to set up workflows that will ensure tasks are completed, all without requiring you to micromanage every step.
Activity streams: The Activity Streams feature simplifies collaboration by allowing you and your team members to exchange updates in real time. You can use this feature along with the Calendar feature to keep track of client meetings, important tasks and upcoming events without having to play email tag with members of your team.
Reports: Wealthbox includes advanced reporting that allows you to generate and save customized CRM reports on demand. You also have the option of generating charts if you’d like a visual aid to accompany your reports.
Integrations: Wealthbox integrates with more than 130 tools and platforms, including AI tools, billing tools, scheduling and communication tools, custodial platforms, document management tools, and marketing tools. That can make for an easier adoption process if you’re concerned about where Wealthbox might fit into your tech stack.

Like other top CRMs, Wealthbox’s features are accessible online and via a mobile app. The Wealthbox app is fully synced with your web-based account, so you always have access to the same data and tools wherever you log in.

Wealthbox CRM Pricing

The CRM offers four pricing plans to choose from. The right one for you is likely going to be based on your business’s size and needs. Here is a quick summary of each.

	Basic	Pro	Premier	Enterprise
What you get	Basic CRM features	Core CRM features	Advanced CRM features	Customized plan
What you pay	$59 per user, per month	$75 per user, per month	$99 per user, per month	Pricing varies

A 14-day free trial period is available with Basic, Pro and Premier plans. Here’s a more comprehensive look at some of what’s included with each plan option.

	Basic	Pro	Premier	Enterprise
Contact & Household Management	Yes	Yes	Yes	Yes
Contact Segmentation Tags	Yes	Yes	Yes	Yes
Contact Roles		3	5	Unlimited
Teams		3	5	Unlimited
Customizable Groups	Yes	Yes	Yes	Yes
Wealthbox Mail		Yes	Yes	Yes
Task Management	Yes	Yes	Yes	Yes
Daily Task Digest	Yes	Yes	Yes	Yes
Opportunity Management	Yes	Yes	Yes	Yes
Opportunity Kanban Boards	Yes	Yes	Yes	Yes
Opportunity Pipelines	1	3	5	Unlimited
Calendar	Yes	Yes	Yes	Yes
Workflows		Yes	Yes	Yes
Workflow Outcomes		Yes	Yes	Yes
Workflow Milestones		Yes	Yes	Yes
Two-Way Email Sync		Yes	Yes	Yes
Two-Way Calendar Sync	Yes	Yes	Yes	Yes
Chrome Extension for Gmail	Yes	Yes	Yes	Yes
Broadcast Email		Yes	Yes	Yes
Email Templates and Themes		Yes	Yes	Yes
Email Open Tracking		Yes	Yes	Yes
Email Link Tracking		Yes	Yes	Yes

Wealthbox CRM – Pros and Cons

When comparing CRM platforms, it’s helpful to consider features and benefits, as well as the potential downsides. Here’s how Wealthbox measures up with the most important bullet points to remember.

Where Wealthbox Stands Out

Wealthbox CRM is tailored to the needs of advisors, wealth managers and other financial professionals, with tools that speak directly to those needs.
Compared to other CRMs for financial advisors, Wealthbox has a minimal learning curve and doesn’t require special training to implement in your business.
Wealthbox’s design and interface are user-friendly and easy to navigate, even if you’ve never used a CRM before.
Integration capabilities span many of the most often-used tech tools in the financial services space.
Wealthbox makes switching CRMs easy by moving your databases for you, with the help of a dedicated onboarding representative.

Where Wealthbox CRM Falls Short

Wealthbox pricing is higher compared to some of its competitors, although the added cost may be balanced out by the broader range of features.
You’ll need to upgrade to a higher-tier plan to unlock some of the platform’s best tools and features.
While the list of integrations is extensive, it doesn’t cover every tech tool on the market.
Wealthbox offers a 14-day free trial period, while some of its competitors give you up to 30 days to try out their platforms.
Support is available through an online Help Center only, which requires you to submit a ticket and wait for a response.

Wealthbox CRM Alternatives

Wealthbox is just one of many CRM platforms, and each has its pros and cons. Here are two others you might consider instead if you don’t think Wealthbox is a fit for your firm:

Redtail

Redtail is a CRM for advisors that features affordable pricing and a comprehensive suite of features for managing client relationships. The user interface isn’t as sleek as what Wealthbox offers, but it’s easy to use. Redtail’s support is highly rated and, like Wealthbox, you can get a free database migration when you set up your account.

There are three plans to choose from: Launch, Growth and Enterprise, with pricing starting at $39 per user, per month. Enterprise plans are customizable.

Salesforce

Salesforce CRM is not specific to the financial services industry, but it offers many of the features and tools that advisors may find valuable. It’s highly customizable compared to other CRM platforms and incorporates a range of AI tools, which tech-focused advisors may appreciate.

There are two pricing plans to choose from: Starter Suite is $25 per user, per month, while the Pro Suite is $100 per user, per month.

Bottom Line: Is Wealthbox CRM a Good Choice for Advisors?

An advisor reviews the pros and cons of Wealthbox CRM.

Wealthbox could be a good fit for advisors who want something user-friendly and customizable, with multiple pricing plans to choose from. It’s suited to smaller advisory firms, but it’s also appropriate for advisors who are ready to grow. If you’re looking for a CRM that offers plenty of value for the money, it may be worth considering. And if you’re interested in exploring the possibilities of Wealthbox CRM, attend a live demo or schedule your free trial.

Tips for Growing Your Advisory Business

Tech tools can take the stress out of running your business and free up more time to spend with clients. If promoting your business is one of your biggest time sinks, you might consider partnering with a third-party marketing platform. SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service that financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.
If you’re investing in a CRM, it’s important to know how to make the most of it. For example, you might use it to track your marketing campaigns so you can pinpoint which strategies are delivering the best ROI. Your CRM can also help with improving customer loyalty and client retention rates by creating personalized communications. Those types of things can go a long way toward helping you grow your firm.

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