Advice CRM software is one category within the advice industry that cops a lot of flak.Here we look at the overall Net Promoter Score (NPS) of CRM software products used by advisers three quarters of the way through phase one of our Marketplace initiative – and compare them to their results from last year.
In fairness to the software providers, to be most useful, advisers need to invest as much of their own time into the software and its capabilities. Its productivity is of course also dependent on licensees’ willingness to invest in the software’s modules and training that it has to offer.
Conversely, given advice is a relatively niche and regulated industry, it is not an attractive space for software providers, so it means there are only a few players. As such, the established players are often perceived to be laggards who can rely on their incumbency. They tend to charge a decent fee to spread across a defined yet declining universe of users.
The qualitative commentary we’ve received on the different providers so far is quite polarising.
In terms of components of feedback to date, the leaders in the respective categories are:
- Adviser Support – Adviser Logic
- Client Experience - Adviser Logic
- Value for money - Salesforce
- Comprehensiveness of modules - Iress(X-Plan)
- Accuracy of Data Feeds – Iress
- Functionality - Adviser Logic
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