What CRMs do Advisors use? And what are the alternatives to Redtail/Wealthbox?

A lot of advisors are frustrated with Redtail, if you've seen some of the posts in the Google forum recently - many are considering leaving - but what are the options?

First, I want to review 3 AdvisorTech surveys and the market leaders in each (I'll list the top five here and then include the full results attached).

Kitces 2021 CRM Survey (Attached):

Redtail - 32.9%
Wealthbox - 22.7%
Salesforce - 13.3%
Other - 8.9%
Junxure - 6.1%

T3/Inside Information 2022 CRM Survey (Attached):

Redtail - 58.84%
Wealthbox - 9.05%
Tamarac CRM - 4.98%
Salesforce Financial Services Cloud - 4.63%
Advyzon - 4.25%

RIA in a Box 2022 CRM Survey (Top 3):

Redtail - 45%
Wealthbox - 16%
Salesforce - 11%

Pretty much across all three surveys, Redtail is the market leader, Wealthbox is in 2nd, and Salesforce or some combination of Salesforce and related Overlays are 3rd.

Where do you stand?

I'm sticking with Redtail - even with its issues, its the best

I'm sticking with Wealthbox - I like the modern UI

I'm seriously considering one of the alternatives.

Other - comment below

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