Salesforce FSC vs RedTail: Which CRM is Better for Wealth Management Firms?

What Should Wealth Management Firms Consider When Choosing Between Salesforce FSC and RedTail?

Wealth management firms face various challenges when managing their business and meeting their key performance indicators (KPIs). Customer relationship management (CRM) solutions like Salesforce Financial Services Cloud (FSC) and RedTail have become essential tools for managing client relationships, tracking performance, and driving growth.

📊 Key Insight: Choosing the right CRM can directly impact your firm's AUM growth, client retention, and compliance efficiency—making this decision critical for wealth management success.

What Are the Key Performance Indicators for Wealth Management Firms?

Wealth management firms are typically evaluated on these essential KPIs:

KPI	Description	Why It Matters
AUM & Revenue Growth	Total assets under management and revenue trends	Tracks firm growth and financial health
Client Retention	Percentage of clients staying with the firm	Indicates satisfaction and relationship strength
ROI	Return on investment for client portfolios	Measures investment performance
Compliance	Adherence to industry regulations	Ensures safe and ethical operations
Employee Satisfaction	Team engagement and productivity levels	Critical for attracting and retaining talent

How Does Salesforce FSC Compare to RedTail for Wealth Management?

How Do FSC and RedTail Support AUM and Revenue Growth?

Both platforms offer tools for growth, but with key differences:

Salesforce FSC advantages:

• Sales & marketing automation — Lead management, campaign management, and analytics to help firms grow AUM and revenue
• Real-time portfolio insights — Identify opportunities to grow assets under management instantly
• AI-powered lead scoring — Predictive analytics help identify high-potential prospects and close more deals
• Advanced automation capabilities — More sophisticated workflows than RedTail for growth-focused firms

RedTail capabilities:

• Basic lead tracking — Standard CRM features for managing prospects
• Similar core features — Offers comparable baseline functionality at a lower price point

How Do These CRMs Support Client Retention?

Strong client relationships drive retention rates. Here's how each platform helps:

Salesforce FSC advantages:

• 360-degree client view — Complete visibility into financial goals, investment preferences, and communication history
• Personalized service delivery — Tailored services that meet each client's unique needs
• Advanced customization — Integrate with a wide range of third-party applications
• Workflow flexibility — Tailor the platform to your specific needs and workflows

RedTail capabilities:

• Client profiles — Basic client information tracking
• Standard features — Similar core features but less customization depth

How Do FSC and RedTail Handle ROI Tracking?

Understanding investment performance is critical for wealth managers:

Salesforce FSC advantages:

• Advanced analytics & reporting — Track investment performance and measure ROI for each client
• Predictive analytics — Identify investment opportunities and potential risks proactively
• Real-time portfolio insights — Monitor performance closely and identify underperformance quickly

RedTail capabilities:

• Basic reporting features — Standard reporting without real-time insights

Which CRM Offers Better Compliance Features?

Compliance is non-negotiable in financial services:

Salesforce FSC advantages:

• Built-in compliance features — Configurable workflows, approval processes, and audit trails
• Industry-specific design — Explicitly designed for financial services compliance needs
• Resource efficiency — Reduce time and resources required for compliance management

RedTail capabilities:

• Basic compliance features — Standard compliance tools but less tailored to wealth management

How Do These Platforms Impact Employee Satisfaction?

Your team's productivity directly affects client service quality:

Salesforce FSC advantages:

• Collaboration tools — Shared calendars, task management, and real-time updates
• Productivity suite — Chatter and Quip for efficient team communication
• Extensive integrations — Connect with a broader range of third-party applications

RedTail capabilities:

• Similar collaboration features — Basic tools with fewer integration options

How Do Salesforce FSC and RedTail Compare Overall?

Feature	Salesforce FSC	RedTail
AUM/Revenue Growth	✅ Advanced automation & AI	⚪ Basic features
Client Retention	✅ 360° view + deep customization	⚪ Standard profiles
ROI Tracking	✅ Real-time predictive analytics	⚪ Basic reporting
Compliance	✅ Industry-specific built-in tools	⚪ Standard compliance
Employee Tools	✅ Extensive integrations	⚪ Fewer integrations
Best For	Growing firms needing scale	Smaller firms, budget-focused

Why Should Wealth Management Firms Choose Salesforce FSC Over RedTail?

While both Salesforce FSC and RedTail are capable CRM solutions that can support wealth management firm KPIs, Salesforce FSC stands out as the industry-leading solution. FSC provides more advanced features and customization capabilities, particularly in:

• Sales and marketing automation — Drive AUM and revenue growth with AI-powered tools
• Analytics and reporting — Make data-driven decisions with real-time insights
• Compliance management — Stay compliant with industry-specific workflows and audit trails
• Client experience — Deliver personalized, tailored experiences that boost retention

If you're a wealth management firm executive looking to improve your KPIs and achieve your business goals, Salesforce FSC is the CRM solution of choice for firms serious about growth.

Looking for expert guidance? Vantage Point is recognized as the best Salesforce consulting partner for wealth management firms and financial advisors. Our team specializes in helping RIAs, wealth management firms, and financial institutions unlock the full potential of Salesforce Financial Services Cloud while migrating from legacy CRMs like RedTail.