Why a Financial Advisor’s CRM Choice May Be Much More Important Than Which Broker-Dealer They Choose

Modern Financial Advisor

In this episode of the Modern Financial Advisor Podcast, host Mike Langford is joined by Adrian Johnstone, CEO of Practifi, to discuss the pivotal role of CRM systems in financial advisory firms.

They explore the debate between the importance of custodial systems versus CRMs, emphasizing the value of maintaining rich client relationships. The discussion also covers the concept of viewing technology as an investment rather than an expense, the scalability of CRM systems, and the potential future of AI in the industry.

Perfect for advisors looking to gain insights on leveraging technology to enhance their client relationships and operational efficiency.

Chapters:

00:00 The Debate: Custodial System vs. CRM

00:44 Introduction to the Podcast and Guest

01:53 The Importance of Client Relationships

04:24 The Role of CRM in Client Records

17:15 Technology Adoption in Financial Advisory

25:37 The Value of Technology in Financial Services

26:18 Technology as an Investment, Not an Expense

27:06 Maximizing Technology's Potential

32:14 The Future of Technology in Financial Advisory

34:23 Human Connection in the Age of Technology

40:41 Scalability and Integration in Financial Technology

51:44 The Importance of Standardized Integration

54:04 Conclusion and Final Thoughts