5 Best Wealth Management CRM Software in India for 2024

March 1, 2023

13 mins read

Table of Contents

If you are a wealth manager or a wealth management firm and you want to go from little to no business growth into having a business with continuous, predictable and consistent business development, this article is for you.

Even the best wealth managers don’t achieve proper business growth without the right wealth management system. This is because your business cannot grow from your existing client base. You need a system in place which consistently brings in new clients. This is especially critical if you are a bigger firm and depend on growth.

Implementing a CRM is actually about solving business problems while helping you grow as a business, rather than using tech for the sake of it. This is why it is important to define the problems that you are trying to solve using CRM before you even go out looking for the right one for your wealth management business.

There are 11 key issues that any CRM must take care of for wealth management business growth:

1. Lead capture:

To make sure you get all your leads from different sources in one place. So that your team can systematically start working on those leads. Otherwise, you can spend all your marketing money on ads to generate leads. But your competitors will close them and manage their wealth.

2. First contact:

When a lead is looking for solutions, he is looking at multiple options. In such a situation every consultant and advisor in town is after this lead and the first person to contact and build trust usually wins the deal.

3. Lead requirement tracking:

Customers hate repeating themselves. Plus, wealth management is so competitive that if you make a lead repeat itself three times, it’ll go to your competitor. Hence you’re CRM needs to track and record everything they have said in the past in one place. So your prospects never have to repeat anything, even when the sales rep handling the lead changes.

4. Capturing the right information:

CRM needs to have custom fields according to your business flow so that you can capture the information that’s critical for your business in a format that your team can effectively use. You can only grow fast if you’re working on the right leads with the right information. Otherwise, your team will end up spending most of their time trying to sell wealth management advice to people who are broke.

5. Lead management:

Can you tell me in 10 seconds exactly how many deals are in your pipeline right now? No! Then you have a lead management problem! Your team can work super hard and still not close any deals if they’re working on irrelevant leads. Going from lead to deal is a process that includes lead generation, capturing the inquiry, filtering, qualifying, and distributing the lead to your team members, nurturing the leads and making them ready to close, and finally getting on the phone and closing the deal.
And a CRM with proper lead management built-in and the right lead management system helps you constantly stay in touch with your prospects and track their entire journey from initial contact to sales to lifecycle management.

6. Data security:

What if your sales team works super hard to turn leads into deals and just before the client writes the consultancy cheque the deals get leaked to a competing wealth management advisor? You can’t control or scale your business if you are constantly scared about your data being leaked. This is why having a CRM that keeps your data safe and secure is an absolute must.

7. Team productivity:

The net output of your sales team is the sum of the outputs of individual sales reps. And the way to make sure that the team is doing its best is to make sure that every sales rep is doing his best. Here are a few things that you can do to reduce the waste of time and increase productivity for your sales reps.

  • Automate repetitive tasks like dialling so that they can make more calls and waste less time managing phone numbers.
  • Automatic call recording and tracking so that they do not spend any time logging information that can be automatically tracked and logged into your CRM.
  • Team performance tracking: To ensure everyone is doing their best, you need to know when they are stuck and what’s wrong. So that you can provide them with the support and tools they need to get unstuck and be at their best!
  • Call reminders: If you miss follow-ups, you lose deals. Timely follow-up is the biggest factor in closing more deals. And you can’t take all follow-ups on time without proper call reminders. No matter how efficient your team members are they just can’t make calls, close deals, and then manage all the follow-ups manually using some Excel sheet. This is why you need a CRM where you can easily schedule follow-ups and get reminders when it’s time to call.
  • Follow-up calendar: There’s one question that every sales rep needs to answer before starting his day – what are my important follow-ups for today? And the right CRM for your business needs to answer that question with a single click.

8. Growth hacks:

You can have the best systems in place but every once in a while the systems go nuts and your targets rise that’s when you need a little bit of help from growth hacks! The right CRM needs to have the tools you need to apply growth hacks.
For Example, Telecrm supports built-in growth hacks like – sending WhatsApp messages immediately after a call with a single click. And reaching your entire audience at once with WhatsApp bulk marketing.

Depending on your business case, you may not need everything, but once you’ve decided to feature that your business needs to grow, the next step in selecting a CRM is to choose the right provider. Because the right features with the wrong provider only mean headaches for you and your team moving forward.

Here are common deadly mistakes to avoid while choosing a CRM provider:

1. Choosing a provider solely based on price:

Price is important but ultimately CRM is like the backbone of your sales operation, and when you’re choosing a CRM vendor the ultimate priority is to choose someone reliable.
There are a few things you can do to check for reliability

  • Read reviews on reliable sources like Google and play store instead of depending on website reviews.
  • Ask smart questions: something like what happens when a customer is not satisfied with your product.
  • Check for intent: every CRM provider including Telecrm wants to sell in the market but reliable providers want to make sure that their customers succeed. The best way to check if a provider is reliable is to see what kind of questions they ask in the sales process. Do they just care about closing the sale? Or do they also care about solving your problems?

Don’t just choose based on price, find a provider you can trust and rely on

2. Having unrealistic expectations

With CRM you implement an improved business system. This might take some time. Everything may not be perfect on day one. You can hire a 10 people development team and spend eight months developing a CRM that’s perfect for your business. But if you are going with a ready-to-use solution, you will need to customize their platform as per your needs. This might take a while.
Ultimately you have to ask – is it solving the problem that you want to solve?
And when you get stuck with something are you getting the help that you need?
If the answer to any of those two questions is a no then you are working with the wrong provider.

3. Not evaluating support

When it comes to CRM, the provider is not just your vendor and you’re not just buying a commodity. Implementing CRM is a way to improve and augment your business systems for better results and growth. And, the provider is your partner who is going to help you implement the software according to your workflow and provide you with the help that you need to get the results that you want. While implementing a CRM you or your team members will eventually get stuck.
That’s when it becomes critical, that you get the support you need to help you get unstuck and move forward.
As we discussed there are 7 elements when it comes to choosing a CRM that will help you succeed and grow your wealth management business

How Telecrm fits into the critical functions of wealth management CRM software:

1. Lead capture:

You can automatically capture leads from 16 different platforms or you can create hundreds of other integrations using our custom API to get all your leads in one place. Plus your team members also get notified on the app and through a WhatsApp message whenever they get a new lead.

lead capture in telecrm

2. First contact:

Imagine this workflow- You get a lead on your Facebook ad immediately your sales executive gets a notification on his WhatsApp. Along with the button that he can click to immediately place a call to that lead. That’s exactly what Telecrm enables you to do with Telecrm. And not just Facebook leads you can do this for all your lead sources.

3. Lead requirement tracking:

Wanna know what a prospect said on the call when he first came to you six months ago? With Telecrm you can just scroll down the timeline, and play the call recording.

lead tracking in crm

3. Capturing the right information:

You can’t sell wealth management advice without knowing exactly how much a prospect is making and what are his growth goals and investment budgets. This means your CRM fields need to be customizable as per your requirements.

custom lead fields in telecrm

4. Lead management:

What if you can just look at your phone and find out in five seconds exactly how many deals are in your pipeline? Similarly, you can get all other insights on a single dashboard!

leads pipeline in telecrm

5. Data security:

You can manage permissions and hierarchy. You can decide exactly who has access to what data and what they can do with your data inside Telecrm.

data security in telecrm

6. Team productivity:

You can improve your team’s performance by using the right tools such as auto dialer. so that callers don’t waste their time manually numbers and do what they ought to do.

calling list in telecrm

Here is a list of productivity features that make sure that your team members are doing their best instead of wasting their time

  • Autodialer: With Telecrm autodialer each sales rep can dial more calls and focus on selling wealth management advice rather than wasting their time typing and managing phone numbers.
  • Auto call tracking and recording: Telecrm has this functionality built-in, plus it works seamlessly and you can access the call logs and recordings from anywhere anytime.
  • Team performance tracking: Any sales team works best only when they know that everything that they do is being tracked and any good work will be rewarded. With an intuitive dashboard, Telecrm gives you the ability to track and monitor your entire team’s performance on a single screen.
  • Call reminders: Call reminders are the backbone of Telecrm. Along with phone notifications, your team members also get notifications on WhatsApp when it’s time for a follow-up call.

The 5 reasons why Telecrm is the best choice for wealth management businesses:

1. Dedicated WhatsApp Support:

Every CRM provider gives support via chat and email but with Telecrm along with chat, and email support you can get quick support on your dedicated WhatsApp support group. Plus we also provide on-call and Zoom support for critical issues along with a dedicated customer success manager to make sure that your business succeeds with Telecrm.

2. Simplest Pricing Ever:

The idea behind Telecrm’s pricing is simple. When you buy a package from us you get access to all our features. So that you don’t receive credit notes of an unknown amount for add-on services at the end of the month. The idea is simple: You should know what you’re paying for and how much you going to pay and we will be there to provide support to ensure that with Telecrm you achieve the results you have in mind. Here are the features that are covered in every plan.

  • Generate more leads and engage them better with WhatsApp bulk marketing.
  • Capture and manage all your leads in one place with lead management, bulk lead editing etc.
  • Stop wasting time and make more calls with Telecrm autodialer
  • Communicate with your customers where they are with 1-click Whatsapp/sms/email
  • Automate your repetitive work with task automation, WhatsApp automation, workflow automation
  • Never miss a follow-up with call reminders and WhatsApp notification
  • Auto-lead capture and instant WhatsApp welcome message to leads
  • Built-in integration with 16 different platforms and hundreds more using our custom API
  • Complete sales rep tracking with call reports, call duration and call recording
  • Customize the CRM according to your workflow with custom fields, API integration, custom reports
  • Know exactly what is happening in your business with sales report & leaderboard report.

3. Customizability:

No CRM has every feature, but if you need a feature that will be useful for many of our users, we may build it for you at a custom price. The idea is to give you what you need for your business to succeed.

4. Regular updates:

If you go for Telecrm you can expect a message like this coming into your WhatsApp inbox every week.

5. Ease of use:

A CRM might have all the features in the world but if your team is not able to use it to get the results that you want then it is useless.

Why you should start with a CRM TODAY!

  1. If you’ve read until this point then you’re fairly serious about implementing a CRM, one of two things can happen. You can either book a demo and try out Telecrm, or five months later you’re gonna be stuck with the same problems, and end up again on Telecrm blog looking for sales growth hacks.
  2. And here’s why I think you should book the demo right now
    1. With Telecrm there is no cost of trying, you don’t have to pay a penny until you’re sure that this is exactly what you need
    2. We have successfully helped 800+ companies just like yours to standardize their business processes and grow their sales. Before they started, they were stuck with the same problems, just like you are.

Still not convinced


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Wealth management is a difficult business with cut-throat competition.

Expertise alone cannot be your only differentiating factor. That’s why you need a rock-solid sales and growth development system.

Let us help you put those systems in place and take your business to the next level.


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Article Author

Arbaz is a seasoned digital marketer with an interest in writing about all things technology. He is known for his ability to blend his interest and work experience into every piece he writes. Currently working as a Marketing Executive in telecrm, he often lends a hand to the content team in researching and publishing insightful articles.