Best CRM for wealth management firms
A wealth firm's CRM holds households, the trusts and companies families own, and the teams that serve them. We read seven CRMs' own pages against what that adds to the record rules: records you can find inside a household, team access under Regulation S-P, an archive copy, a full export and custodian feeds. One adviser choosing a first CRM? Start with the best CRM for financial advisors.
Reviewed October 2026
Best for teams sharing households
Wealthbox
Its own pages state household relationships, records kept private or shared across the firm, roles that decide who may export, and a history of changes: the team controls, stated more plainly than by any other CRM we read.
Read the review of WealthboxBest for a firm that builds its own model
Salesforce Agentforce Financial Services
A household view on a platform you configure, and the only vendor here whose own pages give a change-history window: up to 10 years with its Shield add-on, against 18 months as standard.
Read the review of Salesforce Agentforce Financial ServicesBest for a firm with several business lines
SS&C Black Diamond CRM
Three editions by firm shape, the largest on Microsoft Dynamics 365 for large wealth firms with several business lines; the record questions are left for the demo.
Read the review of SS&C Black Diamond CRM
The comparison table
| Vendor | Household and entity relationships | Team permissions and access logReg S-P 248.30(a)(1); 204-2(g)(3)(ii) | Archiving integration204-2(g)(2)(iii) | Export on request204-2(g)(2)(ii) | Custodian feeds | Built for RIAs (vendor says) |
|---|---|---|---|---|---|---|
WealthboxAdviser CRM | Meets Household relationships, kept private or shared | Meets Roles decide who exports; record changes tracked | Partial MyRepChat texts and Comply listed; no email archiver named | Partial Data Portability listed; file format not stated | Meets Ten named, among them Schwab, Fidelity, SEI | Meets Large RIAs, OSJs, banks, broker-dealers |
Salesforce Agentforce Financial ServicesEnterprise CRM | Meets A 360-degree household view; relationship maps | Partial Change and access logs in the Shield add-on | Not stated | Not stated | Partial Custodial platforms via MuleSoft, none named | Meets RIA accelerator for 25 or fewer staff |
SS&C Black Diamond CRMWealth-management CRM | Partial Client relationships; households not named | Partial Single sign-on; roles and logs not described | Not stated Outlook access; no archiver named | Not stated | Partial None named in text; Schwab and Fidelity logos | Meets RIAs, family offices, trust companies |
AdvisorEngine CRMAdviser CRM | Not stated | Check with vendor Activity tracking is described for workflows | Not stated | Not stated | Not stated Integrations mentioned, none named | Meets CRM for financial advisors |
PractifiWealth-management CRM | Partial Relationships and entities; households not named | Partial States access controls and auditability, no detail | Not stated | Not stated | Not stated An API page; no custodian named | Meets 250+ RIA firms |
Redtail CRMAdviser CRM | Not stated | Partial Audit trails and central visibility; roles not described | Partial Its own add-on archives every email | Not stated Data import named, export not | Meets Schwab named, with Orion and eMoney | Meets Any firm size, broker-dealers included |
Tamarac CRMWealth-management CRM | Partial Relationship-first; households not named | Partial Single sign-on and activity tracking; roles not described | Not stated Outlook link; no archiver named | Not stated | Partial Custodian alerts and statuses; none named | Meets Independent investment advisors |
What a wealth firm asks of a CRM that a solo adviser does not
A solo adviser's CRM holds people. A wealth firm's CRM holds structures: a household, the trusts and companies the family owns, and the three or four people at the firm who each serve part of it. The table above reads every vendor against those structures. If you are one adviser choosing a first CRM, our CRM comparison for financial advisors and RIAs is the better starting point.
The six columns at a firm with several advisers
| Column | At a firm with several advisers | Ask the vendor |
|---|---|---|
| Household and entity relationships | One household holds two spouses, their trust, a family company and a grown child with her own account. | Build that household in the demo, then pull one member's emails on their own. |
| Team permissions and access log | An associate on one team has no reason to open another team's clients, and a departing adviser's access ends that day. | Send the role list and a sample of the access log: who opened which record, and when. |
| Archiving integration | Email and texts sent from the CRM still need their duplicate copy stored somewhere else. | Which archivers receive CRM email and texts, and does it run without anyone pressing send? |
| Export on request | Exam staff can ask for a record in the format it is stored in, and a move to a new CRM cannot drop five years of history. | Export one whole household, files and history included, and open it on your own machine. |
| Custodian feeds | Account data that arrives from the custodian is data nobody re-keys into a second copy. | Which custodians are live today, how often does the feed run, and does anything flow back? |
| Built for RIAs (vendor says) | A CRM built for advisers arrives with households, review steps and compliance roles already shaped. | Which firms of our size and structure run on it now? |
17 CFR 275.204-2(g)(2)-(3); 17 CFR 248.30(a)(1)
Households, entities and the record you must find
Advisers think in households. The books-and-records rule thinks in records. Rule 204-2(a)(7) reaches written communications about advice, about money or securities moving, and about orders, whoever in the family they went to. A household screen is a filing choice. What the rule asks of electronic records is that any one of them can be found.
So the email to a trustee about a distribution has to be findable as that email, not only as a line somewhere in the family's timeline. In a demo, ask the vendor to show one year of the trust's correspondence without the parents' notes mixed in, then the same for the family company. If the CRM can only show the household as a whole, the indexing work falls back on your archive.
On the pages we read, Wealthbox names household relationships and lets a record be kept private or shared across the firm. Salesforce offers a 360-degree household view and relationship maps. Practifi names relationships and entities; Tamarac calls itself relationship-first; SS&C Black Diamond speaks of client relationships. Redtail and AdvisorEngine say nothing about households, which is a question for the demo, not a verdict on the product. The guide to Rule 204-2 lists every record type the rule names.
Team access under Regulation S-P
Regulation S-P covers any SEC-registered investment adviser and any broker or dealer. Each must keep written policies that “address administrative, technical, and physical safeguards for the protection of customer information” (17 CFR 248.30(a)(1)). The adviser books-and-records rule adds, for records kept electronically, procedures “to limit access to the records to properly authorized personnel and the Commission” (204-2(g)(3)(ii)). Neither rule says “roles”. At a firm with several teams, roles are simply how you show an examiner that access is limited, on screen, in a minute.
An example role map for a ten-person wealth firm
| Role | Sees | Edits | Exports |
|---|---|---|---|
| Lead adviser | Own team's households | Notes, tasks, plans | No |
| Associate adviser | Own team's households | Notes and tasks | No |
| Client service | Contact details, service requests | Contact details | No |
| Operations | Account and custodian data, every household | Account set-up fields | For transfers only |
| Chief compliance officer | Every record, plus the access log | Nothing in client records | For exams |
An example to adapt with your compliance counsel; the rules name no roles.
Write the map before the demo, then ask each vendor to build it. Wealthbox's pages say roles control who can manage users, export data or edit settings, and that a record can be private or visible across the firm. Practifi states access controls without detail; Tamarac and SS&C Black Diamond state single sign-on, which governs how people log in, not what they can open. Salesforce's Shield page describes Event Monitoring that tracks what data users access, as part of the Shield add-on bundle.
Change history against the record clock
An adviser keeping records electronically needs procedures that safeguard them “from loss, alteration, or destruction” (204-2(g)(3)(i)). The rule does not require a change log, and it does not require WORM storage. But a CRM where last year's meeting note can be rewritten without a trace makes that safeguard hard to show, and at a firm with many hands in each household, notes do get rewritten. So the useful question is not only whether a CRM keeps a history of changes, but for how long.
Two record clocks and the history windows vendors state
| Clock | How long | Where it is stated |
|---|---|---|
| Adviser record, most types | Not less than five years from the end of the fiscal year of the last entry, the first two in an appropriate office | 17 CFR 275.204-2(e)(1) |
| Broker-dealer communications | Three years, the first two in an easily accessible place | 17 CFR 240.17a-4(b)(4) |
| Salesforce field history, standard | 18 months | Salesforce Shield page |
| Salesforce Field Audit Trail (Shield add-on) | Up to 10 years | Salesforce Shield page |
| Wealthbox activity history | Not stated | Wealthbox security page |
| Redtail audit trails | Not stated | Redtail CRM page |
By our reading, a history window shorter than the record period means an early edit can drop out of the log while the record it changed is still one you must keep. That does not breach the rule on its face, but it is a gap to close on purpose: a longer window, a periodic export of the log, or a firm rule that notes are corrected by a new entry rather than by editing the old one. The books and records retention calculator gives the keep-until date for a record type, which is the window to ask each vendor to match.
The duplicate copy is a separate job. Email and texts sent from a CRM still need a second copy kept for the full period, which is what an archive is for; compare them in our email archiving software comparison and the one for text message archiving.
Custodian and planning feeds, by vendor
At a wealth firm the custodian feed is what keeps account numbers, balances and transfer status out of people's hands. Every value that arrives by feed is one fewer copy of customer information typed into a note, an email or a spreadsheet. Here is what each vendor names on the pages we read.
Custodians and planning tools named on each vendor's own pages
| CRM | Custodians named | Planning tools named |
|---|---|---|
| Wealthbox | Schwab, Fidelity, Altruist, AssetMark, Betterment, Axos Advisor Services, RBC Clearing & Custody, SEI, TradePMR, ClientWorks (LPL) | MoneyGuide, RightCapital, eMoney |
| Redtail CRM | Schwab, beside Orion | eMoney |
| Tamarac CRM | None named; shows custodian alerts and statuses | MoneyGuide, plus Tamarac Reporting and Trading |
| SS&C Black Diamond CRM | Schwab and Fidelity logos, no text | None named |
| Salesforce Agentforce Financial Services | None named; custodial platforms through MuleSoft | None named |
| Practifi | None named; an API page | None named |
| AdvisorEngine CRM | None named | None named |
“None named” is not “none exist”: some vendors keep the integration list for the sales call. Ask for the live list with the feed's direction and timing. A firm that custodies at Pershing should ask Wealthbox directly, since Pershing is not on its integrations page. For the planning, portfolio and website tools that sit around the CRM, see the adviser software stack compared.
Salesforce Financial Services Cloud vs Wealthbox
These two often end up on the same shortlist once a firm outgrows its first CRM, and they are different purchases. One is a platform you shape; the other is a CRM you adopt as it comes.
Read side by side, from each vendor's own pages
| Point | Salesforce Agentforce Financial Services | Wealthbox |
|---|---|---|
| What you buy | A platform configured for wealth management; its RIA accelerator suits firms of 25 employees or fewer | An adviser CRM with households, roles and integrations already defined |
| Households | A 360-degree household view, relationship maps | Household relationships, private or shared |
| Change history | 18 months as standard; up to 10 years with Field Audit Trail in the Shield add-on | Changes to records shown over time; how long is not stated |
| Who may export | Not stated on the pages we read | Set by role |
| Custodians | Through MuleSoft; none named | Ten named on its integrations page |
| Trial on its own page | 30 days | 14 days |
Pick Salesforce when you have, or will hire, someone whose job is to run it, and when you want field history kept longer than the five-year adviser record period, which its own pages tie to the Shield add-on. Pick Wealthbox when the firm wants team controls on day one and no project plan. If your shortlist is Wealthbox and Redtail instead, read Redtail vs Wealthbox side by side.
A demo script for a wealth firm
A demo run by the vendor shows the vendor's best path. Hand over this script instead, one step per column of the table, and ask for each step on screen rather than on a slide.
- 01Build one household live: two spouses, their revocable trust, a family company and an adult child with her own account.
- 02Log in as an associate on another team and try to open that household.
- 03Edit last month's meeting note, then show where the change, its author and the time are recorded, and for how long.
- 04Send an email from the CRM and show where its duplicate copy lands in your archive.
- 05Export the whole household, files and history included, and open the file on your own machine.
- 06Point to the breach-notice clause in the service contract and read its timing in hours.
A vendor that cannot do step three or five on the call is telling you where your own procedures will have to carry the load. Keep the written answers; they belong in your vendor oversight file. More adviser CRMs, with what each one's own site says, sit in our adviser CRM directory, and the books and records checklist shows which records the CRM will end up holding.
Each vendor, read against the rule
Wealthbox
Adviser CRM- What it is
- A CRM made for financial advisers, from Wealthbox, LLC. Its security page describes household relationships, records kept private or shared across the firm, roles that control who can manage users or export data, and an activity history of changes to records.
- Who it fits
- A firm where several advisers and staff work the same households. Its enterprise page names large RIA firms, OSJs, banks and broker-dealers, and its integrations page lists ten custodians, Schwab, Fidelity, SEI and LPL's ClientWorks among them. Pershing is not on that list.
- What the rule requires, and whether it meets it
- Household and entity relationshipsMeetsHousehold relationships, kept private or shared
- Team permissions and access logMeetsRoles decide who exports; record changes tracked
- Archiving integrationPartialMyRepChat texts and Comply listed; no email archiver named
- Export on requestPartialData Portability listed; file format not stated
- Custodian feedsMeetsTen named, among them Schwab, Fidelity, SEI
- Built for RIAs (vendor says)MeetsLarge RIAs, OSJs, banks, broker-dealers
- Not verified by us
- How long the activity history is kept and whether it records views as well as edits; a sample household export and its file format; which email archiver it feeds; the breach-notice terms in its service contract.
Salesforce Agentforce Financial Services
Enterprise CRM- What it is
- Salesforce's wealth-management edition, formerly Financial Services Cloud, with a 360-degree household view and relationship maps. Field history kept beyond the standard 18 months (up to 10 years) and logs of what users open come from Salesforce Shield, which its own page describes as an add-on bundle.
- Who it fits
- A firm with an administrator, on staff or hired, to configure it. The adviser accelerator is, in its own words, best suited for RIAs with 25 employees or less; the page also names broker-dealers and investment managers. It offers a 30-day trial of Financial Services Cloud.
- What the rule requires, and whether it meets it
- Household and entity relationshipsMeetsA 360-degree household view; relationship maps
- Team permissions and access logPartialChange and access logs in the Shield add-on
- Archiving integrationNot stated
- Export on requestNot stated
- Custodian feedsPartialCustodial platforms via MuleSoft, none named
- Built for RIAs (vendor says)MeetsRIA accelerator for 25 or fewer staff
- Not verified by us
- The permission model a wealth firm would start from; whether your edition includes Field Audit Trail and Event Monitoring; the custodians it connects to today; the export format; the breach-notice terms.
SS&C Black Diamond CRM
Wealth-management CRM- What it is
- SS&C Advent's CRM in three editions: Edge, a managed experience, and Elements, both on the Salesforce Lightning Platform, and Engage, built on Microsoft Dynamics 365. The page says client and financial data can be read inside Outlook and Office 365. The old Salentica address now forwards to this page.
- Who it fits
- Edge is aimed at startups and breakaways through to larger wealth management firms; Engage at large wealth firms and companies with several business lines. The site lists RIAs, broker-dealers, family offices, banks and trust companies among its audiences.
- What the rule requires, and whether it meets it
- Household and entity relationshipsPartialClient relationships; households not named
- Team permissions and access logPartialSingle sign-on; roles and logs not described
- Archiving integrationNot statedOutlook access; no archiver named
- Export on requestNot stated
- Custodian feedsPartialNone named in text; Schwab and Fidelity logos
- Built for RIAs (vendor says)MeetsRIAs, family offices, trust companies
- Not verified by us
- Each edition's permission roles and audit log; which archiver receives the mail it touches in Outlook; the custodian feeds behind the Schwab and Fidelity logos; the export format; the breach-notice terms.
AdvisorEngine CRM
Adviser CRM- What it is
- A CRM for financial advisers with a workflow engine, activity tracking of each client's workflow progress, and unlimited document storage.
- Who it fits
- A firm organised by function: its pages address executives, operations, compliance, growth and investment teams. They do not name firm types or sizes, and they do not describe households.
- What the rule requires, and whether it meets it
- Household and entity relationshipsNot stated
- Team permissions and access logCheck with vendorActivity tracking is described for workflows
- Archiving integrationNot stated
- Export on requestNot stated
- Custodian feedsNot statedIntegrations mentioned, none named
- Built for RIAs (vendor says)MeetsCRM for financial advisors
- Not verified by us
- How households and entities are recorded; the permission roles and a sample of any audit log; the custodian list; the archiving connection; the export format.
Practifi
Wealth-management CRM- What it is
- A wealth-management CRM sold as two products, Sentir and Naya. The home page says relationships, entities, workflows and service models are fundamental to every product, and that access controls and auditability are built into each.
- Who it fits
- RIA firms with several teams and service tiers: 250+ RIA firms and 10,000+ users, by its own count. A firm whose clients are often entities rather than couples will find that word on its page.
- What the rule requires, and whether it meets it
- Household and entity relationshipsPartialRelationships and entities; households not named
- Team permissions and access logPartialStates access controls and auditability, no detail
- Archiving integrationNot stated
- Export on requestNot stated
- Custodian feedsNot statedAn API page; no custodian named
- Built for RIAs (vendor says)Meets250+ RIA firms
- Not verified by us
- How a household is modelled; the role list, the fields its audit log records and how long it keeps them; the custodian integrations behind its API page; the archiving connection; the export format.
Redtail CRM
Adviser CRM- What it is
- An adviser CRM with add-ons for email (Redtail Email, which archives every client email) and texting. Its CRM page says it maintains audit trails, supports large adviser networks with centralized visibility and supervision workflows, and is SOC 2 Type II certified.
- Who it fits
- Firms of any size, by its own page, with a separate broker-dealer audience. A wealth firm under a broker-dealer that already runs Orion or custodies at Schwab will find both named. The pages read say nothing about households or trusts.
- What the rule requires, and whether it meets it
- Household and entity relationshipsNot stated
- Team permissions and access logPartialAudit trails and central visibility; roles not described
- Archiving integrationPartialIts own add-on archives every email
- Export on requestNot statedData import named, export not
- Custodian feedsMeetsSchwab named, with Orion and eMoney
- Built for RIAs (vendor says)MeetsAny firm size, broker-dealers included
- Not verified by us
- How households and trusts are recorded; its permission roles; what the audit trail holds and for how long; a sample full export; how Redtail Email stores archived mail.
Tamarac CRM
Wealth-management CRM- What it is
- Envestnet's relationship-first CRM, built on the Microsoft platform by its own description, with Office 365 and Outlook integration, single sign-on, and links to Tamarac Reporting, Tamarac Trading and MoneyGuide.
- Who it fits
- Independent investment advisers who already run Tamarac for reporting and trading and whose staff work in Outlook all day. The page shows custodian alerts and statuses but names no custodian.
- What the rule requires, and whether it meets it
- Household and entity relationshipsPartialRelationship-first; households not named
- Team permissions and access logPartialSingle sign-on and activity tracking; roles not described
- Archiving integrationNot statedOutlook link; no archiver named
- Export on requestNot stated
- Custodian feedsPartialCustodian alerts and statuses; none named
- Built for RIAs (vendor says)MeetsIndependent investment advisors
- Not verified by us
- How households and entities are modelled; the permission roles; an audit log sample; which archiver its Outlook mail reaches; the custodian list; the export format.
How we read these vendors
Questions firms ask
Does a household record satisfy the books-and-records rule?
The rule does not mention households. It asks an adviser keeping records electronically to arrange and index them so that any particular record can be located and retrieved. A household view helps if you can still pull out one communication, or one family member's communications, on their own.
17 CFR 275.204-2(g)(2)(i)
How long must a wealth firm keep emails sent from its CRM?
An adviser keeps an (a)(7) communication for not less than five years from the end of the fiscal year of the last entry, the first two in an appropriate office. A broker-dealer keeps its business communications for three years, the first two in an easily accessible place. A firm registered as both answers to both rules.
17 CFR 275.204-2(e)(1); 17 CFR 240.17a-4(b)(4)
Does Regulation S-P require role-based permissions in a CRM?
Not in those words. It requires written policies that address administrative, technical and physical safeguards for customer information, and the adviser records rule asks for procedures that limit access to properly authorized personnel. Roles are the usual way a firm with several teams puts both into practice.
17 CFR 248.30(a)(1); 17 CFR 275.204-2(g)(3)(ii)
Must our CRM keep a change log or WORM copy?
The adviser rule requires neither. It asks for procedures that reasonably safeguard records from loss, alteration or destruction, plus a separately stored duplicate copy. A change log is one way to show the first; an archive usually provides the second.
17 CFR 275.204-2(g)(2)(iii), (g)(3)(i)
If our CRM vendor is breached, who tells the clients?
You do. Your service-provider policies must be reasonably designed to make the vendor notify you no later than 72 hours after it becomes aware of a breach of a customer information system it maintains, and the duty to notify affected individuals rests with your firm.
17 CFR 248.30(a)(5)(i)(B), (a)(5)(iii)