Top 10 Software and Solutions for Financial and Wealth Management Firms

The finance world is changing fast with technology, and as clients expect more, wealth managers need smart solutions. Modern software is a must for making things smoother, improving services for clients, and staying ahead of the competition.

Wealth managers have lots of software choices these days, designed just for them. Whether it’s managing client relationships or handling portfolios, these fintech solutions help advisors work better and give clients top-notch experiences. 

Let’s explore the top 10 software that’s shaking things up in the wealth management industry:

1. Client Relationship Management Tools (CRM)

These tools act like the beating heart of client-focused businesses. They bring together all client information, messages, and tasks into one central hub. This helps advisors keep track of conversations, opportunities, and more. Popular choices for wealth managers include Salesforce, Microsoft Dynamics, and AdvisorEngine. 

These platforms provide features for handling contacts, storing documents, analyzing data, accessing client insights, and much more. This allows advisors to offer personalized services, cut down on paperwork, and enhance overall efficiency. 

2. Portfolio Management Systems

Wealth managers heavily rely on portfolio management systems (PMS) to streamline essential tasks, such as executing trades, rebalancing, reporting performance, and handling billing. 

Companies like Tamarac and Envestnet provide comprehensive PMS solutions, offering advisors a complete picture of client portfolios, along with planning and proposal features.

With automated workflows and customizable reports, PMS tools free up time for value-added client activities. Real-time market data integration ensures advisors make informed investment decisions.

3. Financial Planning Software

Financial planning software streamlines the development of comprehensive wealth plans. Apps like eMoney Advisor, FinanceLogix, and Advicent give you tools to check out your whole financial situation, try out different scenarios, make personalized plans, and keep tabs on how you’re doing over time. 

They save you from doing boring tasks by automating them and working together with other systems to keep everything in one place. Advisors benefit from standardized, sophisticated plans backed by powerful analytical engines.

4. Account Aggregation and Management

Platforms for account aggregation and management offer a streamlined view of all your assets, no matter where they’re held. Tools such as Envestnet MoneyGuide, Yodlee, and Quovo gather data from different sources, giving you a comprehensive financial overview. 

These platforms make it easy for both advisors and clients to manage, report, rebalance, and more, all in one place. Say goodbye to manual data entry – with aggregation, you get transparency that improves the overall experience for clients and boosts efficiency for advisors.

5. Proposal Generation Software

These tools make it easier to craft personalized, polished proposals, presentations, reports, and other documents for clients. Popular options include products from Anthropic, NaviPlan, and Advicent. 

They offer pre-built templates that can be easily customized with a client’s unique goals, assets, cash flow projections and more. Advisors save significant time drafting proposals and other materials to clearly illustrate strategies and recommendations.

6. Document Management Systems

Instead of calling them document management systems, think of these tools as central hubs for all your client files and paperwork. Adobe Sign, Dropbox, and Laserfiche are some top choices. 

Beyond storage, many offer digital signature capabilities, version control, audit trails and other collaboration features. DMS streamlines compliance processes and improves response times by keeping all relevant information organized and accessible in one place.

7. Risk Profiling and Analytics

Risk profiling software analyzes a client’s financial situation, goals, and risk tolerance to develop a customized risk profile. It helps align recommendations with investor psychology while also integrating with advisors’ overall IT asset management practices.

Platforms such as Riskalyze, Envestnet | Yodlee Risk Insights, and BlackRock’s Aladdin Risk provide advanced risk analytics and simulations. Advisors use these insights for informed discussions aligned with the client’s risk preferences, guiding wise investment choices.

8. Performance Reporting 

Performance reporting solutions automate the generation of customized client statements and reports. They pull data directly from portfolio accounting and other systems to create presentable documents efficiently. 

Examples include products from Black Diamond, Advyzon, and Tamarac. Beyond historical returns, they provide flexible reporting on asset allocation, holdings, transactions, and more. Automated reporting saves advisors significant time and effort, which can promote better mental well-being at work.

9. Client Portal and Digital Onboarding 

Online tools like client portals and digital onboarding platforms make it easy for clients to engage from any device. They simplify the process of opening a new account, signing documents electronically, and securely accessing statements, reports, and important planning materials.

Examples of these tools include Redtail Technology, AdvisorVault, and Envestnet MoneyGuide. These platforms enhance the client experience by providing 24/7 access to their financial information and connecting them with their advisors.

10. CRM Integrations

Seamless connections between core wealth management systems and native CRM integrations, like Tamarac, Black Diamond, and Envestnet, are designed to work together effortlessly. 

These integrations do away with manual data entry by keeping contacts, activities, documents, and other information in sync in real time. They offer a complete view of clients within the technology ecosystem, streamlining workflows for advisors and their teams.


In a nutshell, modern wealth and asset managers use smart, easy-to-use software to run their operations. A well-tuned tech setup boosts efficiency, improves client interactions, and ensures the business is set up for ongoing success. 

The standout solutions we’ve covered here offer the tools to provide outstanding service and stay ahead in the competitive landscape.

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