CRM pop quiz — Test your IQ

Question 1

Which statement best reflects what is shifting in CRM?

Accepted Answer

AI-driven automation is the dominant trend in CRM

Answer

The category is shrinking as advisors return to spreadsheets

Answer

Most vendors in this space were acquired by a single private equity firm in 2023

Answer

Regulation has frozen new product development in this category

Question 2

Which two of these vendors do NOT compete in CRM? (pick two)

Accepted Answer

OnceHub (ScheduleOnce)

Answer

Salesforce (FSC)

Answer

Wealthbox

Question 3

Which CRM has the largest installed base among independent US RIAs?

Accepted Answer

Wealthbox

Answer

Redtail

Answer

Salesforce Financial Services Cloud

Answer

Practifi

Question 4

Which of these best describes "CRM"?

Accepted Answer

Core client relationship management, pipelines, and compliance notes.

Answer

Deep cash-flow, goals-based modeling, and scenario analysis.

Answer

Tools for charitable giving, DAF management, and philanthropic strategy.

Answer

Deep analysis of 1040s, Roth conversions, and tax-smart distributions.

Question 5

A large, multi-state broker-dealer and a boutique independent RIA are both evaluating new CRM vendors. Based on the provided company descriptions, which statement is the most accurate reflection of their likely considerations?

Accepted Answer

The large broker-dealer would likely favor a flexible platform like Advisor360°, which is built to support diverse firm structures and sizes.

Answer

Both firms would find a specialized RIA platform like AdvisorEngine equally suitable.

Answer

The independent RIA would likely favor Advisors Assistant due to its exclusive focus on insurance tracking.

Answer

Altitude Financial Management offers a competing CRM software package for large enterprises.