List of Top Financial Software for Communication, Team Management, and Financial Planning

If you’re working at a financial consulting firm, you probably know that the right software can make all the difference in streamlining your business processes and increasing productivity. This is why so many companies either start using out-of-the-box software or invest in creating their own solutions.

“Everybody wants to improve their technology stack because technology is always improving.” David Williams, Head of Business Development at Oyster Consulting

In this article, we’ve compiled a list of the top software solutions for finance companies and consulting firms to help you make the best choice for your business. We also overview requirements software should meet to help you make an informed choice. Keep reading to dive into the subject.

Financial company software requirements

Financial companies may have different requirements for software depending on their specific needs and goals. Still, there are some general requirements that should be met to ensure that dependencies in business processes don’t become liabilities.

Reliability

Unreliable software can create bottlenecks because of instability. It is a well known fact that businesses lose clients because of downtime and crashes.

There are several reliability metrics you can use to check if software can be trusted:

• Mean time between failures (MTBF) measures the average time between two consecutive software failures. A high MTBF value indicates that software is reliable and has a low probability of failure.
• Mean time to failure (MTTF) measures the expected time until the first software failure. A high MTTF value indicates that software is reliable and has a low probability of failure in the short term.
• Mean time to repair (MTTR) measures the average time it takes to repair software after a failure. A low MTTR value indicates that software can be quickly restored to a working state after a failure.
• Failure rate measures the number of failures that occur in a given period of time. A low failure rate indicates that software is reliable and has a low probability of failure.
• Availability measures the percentage of time for which software is available and correctly functioning. A high availability value indicates that software is reliable.

Check the software you plan to use against these metrics to determine if your company can rely on it.

Ease of use

It’s hard to underestimate the impact user experience has on clients. In fact, a study by AWS showed that 35% of deals are not made because of a poor client experience. Every business looking to be successful wants to improve their client experience, and choosing software for communication with clients and relationship management is crucial in that matter.

To ensure the software you have chosen provides an excellent client experience, we recommend that you pay attention to client feedback.

Security

Cybercriminals select targets based on two criteria: maximum impact and maximum profit. Financial firms often become criminals’ targets, as they possess highly valuable data that can be used for identity theft.

The following data might be compromised during consultations with financial planners and advisors:

• Names
• Email addresses
• Phone numbers

Preventing software data breaches requires a comprehensive approach that involves multiple strategies and best practices, such as:

• secure coding practices
• access control
• regular software updates
• data encryption
• regular audits

By choosing software that meets all these requirements, you minimize the risk of a data breach.

Teamwork support

It’s much easier to use a tool that offers teamwork functionality than to try to integrate a tool that’s suitable only for individual work. You will need teamwork functionalities for accomplishing shared tasks, sharing notes, providing limited access to secure client information, and holding group calls.

Before deciding on software, check if it supports collaboration among team members.

Data privacy

Financial firms must comply with data privacy requirements, such as the General Data Protection Regulation (GDPR) in the European Union and the California Consumer Privacy Act (CCPA) in the United States. This includes protecting the personal data of customers and employees and using software that meets compliance requirements.

Fast onboarding

The easier it is to onboard your team, the faster you will be able to use your new employees to their fullest potential. Choose software that doesn’t require complex onboarding, has clear instructions, and provides documentation and training for your team.

List of top financial software

Now that you’re aware of the attributes that distinguish high-quality software that is suitable for teamwork from software you shouldn’t use, let’s overview what types of software you can use to improve your work and streamline business processes.

Scheduling and booking software

For a financial consulting firm, scheduling and booking software has the potential to simplify the client booking process, align your specialists’ schedules, and improve the overall efficiency of your business processes. The key features of scheduling and booking software often include:

• intuitive appointment booking
• automated reminders
• scheduling and rescheduling
• online billing

The booking and scheduling software in the list below incorporates all of these features as well as many others.

ExpertBox

ExpertBox offers a comprehensive suite of features that enable you to stay organized and in sync with your team and clients. With ExpertBox, you can set working hours for each consultant, take advantage of rescheduling and cancellation functionality, implement booking and cancellation rules, assign prices for services, and accept payments. Plus, your clients will be notified about upcoming online or offline appointments, ensuring that everyone is on the same page.

WhenWorks

WhenWorks provides a straightforward solution for creating an online scheduling page by offering support for various calendar integrations and event types.

Setmore

Setmore has self-booking and reminder capabilities and the option to integrate payment systems like Square or PayPal. Although similar to ExpertBox in many respects, it does not provide a CRM, client portal, or a range of other features ExpertBox offers.

Apptoto

Apptoto provides appointment reminders and client communication solutions that integrate seamlessly with your current calendar workflow. The tools in Apptoto are designed to maximize efficiency and optimize productivity.

Calendly

Calendly is a platform for automating scheduling processes and eliminating the need for time-consuming back-and-forth communication.

CRM software

CRM software is aimed at improving communication between financial consulting firms and their clients, driving client satisfaction. This type of software offers a range of features to increase client engagement, allowing consultants to focus more of their attention on clients. Check out the list of CRM solutions below to find out their pros and cons.

ExpertBox

The ExpertBox CRM enables you to import data from other databases in CSV format, automatically or manually update your client database, use custom fields and add private notes to build client profiles, create tasks and manage them, and view every client’s chat and action history.

Salesforce

The Salesforce CRM enables collaboration between teams to deliver superior customer satisfaction, gain valuable insights from analytics, draw in prospective clients, and nurture customer loyalty.

Redtail Technology

The Redtail CRM provides the necessary tools to help build and maintain strong client relationships. Its streamlined workflows and integrations with popular systems, such as Advicent and Advisory World, make it easy to access all data from one dashboard.

Wealthbox

Wealthbox is an easy-to-use CRM that helps build custom workflows and provides contact management within mailbox and team calendar features.

UGRU Financial

UGRU Financial is an integrated financial CRM that offers sales and marketing automation. It is specifically built for financial consulting firms.

Communication software

Communication software is an essential tool for any financial consulting firm. It enables you to efficiently and securely communicate with clients by using chat or video conferencing. Let’s check what options are on the market.

ExpertBox

ExpertBox is a tool that offers one-on-one video meetings for clients and group meetings for teams along with secure chat functionality.

Zoom

Zoom is a convenient video conferencing tool that provides a unified experience for collaboration from mobile devices, desktops, and conference rooms.

Google Meet

Google Meet provides a secure and straightforward approach to initiating video conferences. Google Meet supports multiple browsers and can accommodate both individual and group meetings.

Microsoft Teams

Microsoft Teams is a powerful, reliable, and secure solution that offers video conferencing and chat options.

Skype

Skype is another conferencing platform that can provide your team with everything you need for professional communication through video or chat.

Team management software

As a financial consulting firm, you need the best tools and software to ensure seamless operations not only between you and your clients but also within your team. Team management software helps you manage and optimize team performance, track workloads, and encourage collaboration between team members. It provides visibility and transparency within communication and streamlines processes and workflows.

ExpertBox

ExpertBox enables you to effectively manage your team’s workload in order to ensure high quality service and sustainably grow your business.

Monday.com

Monday.com is team management software that offers project board views, time tracking, notifications, and analytics all within one system.

ClickUp

ClickUp is a comprehensive team management solution designed to facilitate the full project lifecycle. It comes equipped with highly customizable dashboards and advanced planning features to support successful project completion.

Asana

Asana is a powerful team and project management tool that enables teams to stay organized and effectively collaborate on complicated projects. With its help, you can keep track of individual tasks and ensure that all team members are up to date on their responsibilities.

Financial planning software

Financial planning software is an invaluable tool for any financial consulting firm. It provides a comprehensive suite of features to generate financial plans and reports, manage financial data, analyze investments, calculate financial metrics, and more. With this software, you’ll be able to streamline your workload, improve efficiency, and provide better service to your clients.

MoneyGuidePro

The MoneyGuidePro platform offers an array of resources for goal-oriented financial planning, enabling financial advisors to effectively demonstrate outcomes to their clients.

EMoney Pro

EMoney Pro provides a comprehensive platform with planning and analytics capabilities, making it an ideal solution for working with high-net-worth individuals.

RightCapital

RightCapital offers a comprehensive suite of CRM, planning, and business intelligence features to provide a unified platform for optimizing customer relationships.

EMoney Plus

EMoney Plus is a financial management platform that simplifies execution, administration, preparation, and ongoing client management. It’s a comprehensive and scalable solution for managing your clients’ finances throughout the client lifecycle.

Portfolio presentation software

Portfolio presentation software is a powerful tool that allows financial consulting firms to track and manage investor portfolios as well as collect and showcase statistics to present to clients.

Kubera

Kubera offers a comprehensive solution for tracking global bank accounts, investments, stocks, cryptocurrency, and physical assets. Through its intuitive adjustable dashboard, users can easily access all necessary information. Moreover, Kubera is equipped with robust security measures to ensure the safety of user profiles.

Riskalyze

Riskalyze provides a comprehensive solution that integrates risk management, analytics, marketing, and CRM functions into a single platform. Using Riskalyze, advisors can present data to clients and demonstrate compliance with regulatory requirements.

Finary

Finary is an ideal choice for those who are interested in working with both stocks and cryptocurrency, as it provides a secure solution that can predict investments, offer dividend calendars, and collect statistics about current progress.

Final thoughts

The right financial software can make all the difference in the success of a financial consulting firm. Whether it’s scheduling and booking software, CRM software, communication software, or financial planning software, it’s important to choose the right option for you. It’s also important that financial software meets all necessary requirements such as reliability, ease of use, security, teamwork support, and data privacy. With the right software, any financial consulting firm can run smoothly and efficiently. Subscribe to our newsletter to get more tips on how you can automate processes within your company with the proper software.