What is Redtail CRM?

Since 2003, Redtail has remained the most popular CRM provider for financial firms. It offers a robust CRM platform with features for sales, contact management, and task automation. It further distinguishes itself by providing a compliant communication platform called Redtail Speak. This keeps client communications safe, archived, and searchable in case of an audit. Redtail also integrates with more financial apps than any other CRM, such as Morningstar, MoneyGuidePro, and LaserApp. The user-friendly UI ties all your tools and data together, so you do the lion`s share of your work from a single program.

Customization and Ease of Use As with many industry CRMs, there`s a tradeoff between flexibility and function. Redtail is a highly specialized CRM for financial services. As such, it lacks a lot of customization options. However, this also means the CRM is geared to work right out of the box, without weeks of configuration needed. The user-friendly UI comes with tabs along the top for Accounts, Activities, Contacts, Market News, Notes, Opportunities, and Reminders. Adding notes, clients, assets, or tasks is effortless. In the left-hand navigation bar, you`ll see your Calendar, Social, Reports, and Workflows (a feature we`ll cover in-depth below). You can quickly add new contacts, opportunities, notes, documents, and more using the Quick Add feature - simply click the plus sign icon.

If you`re looking for a straightforward tool that can integrate with your firm`s infrastructure—Redtail is a strong contender. It integrates with dozens of financial applications, creating a central platform for all your financial data. Even industry giant, Salesforce Financial Cloud, can`t compete with the number of financial tool integrations. Contact Management Redtail can manage a constant stream of communication with your clients from several channels.

It integrates with several VoIP partners, including Intulse, Lightspeed Voice, and Fusion, allowing you to dial directly from the CRM. You can also integrate your email and social media accounts. Redtail meets the email archiving regulations from SEC Rule 240. There is also no storage limit for your mailbox or communication archives. You can rest assured, no data gets tossed due to the storage caps present in most other CRMs. For text messaging, the CRM provides a unique tool called Redtail Speak. Over 80% of Americans text regularly.

Yet, only 10% of financial firms offer text communication with clients due to compliance issues. With Redtail Speak, you can engage clients on their preferred channel. The CRM automatically records and archives all SMS conversations. Chats are saved to a searchable, shareable record that`s compliant with SEC and fiduciary rules, creating a clear digital trail in case of an audit. Sales Tools Financial firms face stiff competition, especially in the fintech industry. Redtail offers the following tools to help manage prospects and speed up the sales cycle.

Tag groups: Instead of wasting time weeding through contacts, the people you need to reach out to are packaged into convenient lists. A tag group can be handpicked or set using a filter.

Filter options include new/existing customers, date of the last contact, account value, and much more. You can target the best prospects for a financial product and quickly move through email and call lists.

Opportunities: The opportunities provide a visual representation of all your deals in the pipeline. You can create multiple customized pipelines which also include privacy settings. The opportunities tool is best for multi-step sales processes where the steps are flexible vs. defined. You can quickly add notes, new tasks, and documents by clicking the plus sign icon. The opportunities section is also an excellent place to calculate revenue and commissions.

Workflows: If you have a static sales process with defined steps and timeframes, Redtail`s workflows can automate the process for you. Unlike pipelines which require manual oversight, a workflow will keep tasks moving toward close with automation, plus automatic alerts and notifications. Redtail Imaging Redtail Imaging is another tool to help financial firms modernize and maintain SEC compliance. It allows advisors to access paperwork from anywhere and creates a digital paper trail. Go paperless and tie contracts, portfolios, and other documents directly to the digital client record. All file transfers to the Redtail Imaging servers are transmitted using the latest 256-bit SSL encryption. Records are also automatically backed up, ensuring the safety of your confidential data.