Redtail CRM Reviews & Pricing

by Redtail Technology | Founded 2003, Sacramento, CA

REQUEST WITH NO OBLIGATION$ Request Pricing Get Free Demo

Request Pricing Request Demo

Overview Pricing Benefits Reviews Features

Categories:

What is Redtail CRM?

Industry Specialties: Financial Services

Redtail CRM is a web-based client relationship management solution tailored specifically for financial advisors and their teams. It helps simplify client management, automate workflows and improve collaboration within financial services firms. The platform also includes compliance features to meet regulatory requirements and offers opportunity tracking for managing sales pipelines.

It’s best suited for mid-sized to large financial advisory firms that need complex workflow management and extensive customization. It's helpful for teams managing intricate client relationships and requiring integration with other financial software.

Users like Redtail's feature set and its ability to handle complex workflows. They find the customization options useful, though they come with a steep learning curve. Some users report challenges with the system's speed, occasional glitches and a sometimes overwhelming interface. The quality of customer support has mixed reviews, with some users finding it lacking in responsiveness.

Starting at $39 per month per user, Redtail CRM is an affordable solution in the long term, especially given its industry-specific features. However, some key features, such as email integration, may come with additional costs.

PRICE

COMPANY SIZE

DEPLOYMENT

PLATFORM

Try Before You Buy.

Request a Free Demo Today!

Request Demo

It's completely free!

User Sentiment

Based on 259 reviews:

Add your rating:

Product Screenshots and Videos

Redtail CRM Pricing

Based on our most recent analysis, Redtail CRM pricing starts at $99 (Monthly).

Get Price Quote

Price: $
$
$
$
$

i
Starting From: $99
Pricing Model: Monthly
Free Trial: Yes, Request for Free

Training Resources

Redtail CRM is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for Redtail CRM:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

Redtail CRM Benefits and Insights

Why use Redtail CRM?

Key differentiators & advantages of Redtail CRM

Switch Without the Hassle: Easily change CRM providers with Redtail's free database migrations. Once you activate your subscription, they provide complimentary database imports from nearly every major solutions provider.
Connect With Your Favorite Tools: Redtail offers integration with popular financial software, including portfolio management systems, accounting software and compliance tools. This keeps all your important information in sync across platforms.
Stay Compliant With Ease: The platform incorporates strong compliance features designed specifically for the financial services industry. These tools help firms adhere to regulatory requirements like SEC Rule 17a-4(f).
Quickly Generate Custom Reports: With Redtail, you can run reports for almost any scenario you can think of. Choose from a wide range of standard reports and exports, or create your own custom exports to fit your needs.

Industry Expertise

Redtail CRM is a purpose-built solution for financial advisors, offering specialized features like portfolio management integration and industry-specific workflows. It helps manage client relationships and automate complex financial service processes all within a single platform tailored exclusively for financial services firms.

Redtail CRM Reviews

Based on our most recent analysis, Redtail CRM reviews indicate a 'great' User Satisfaction Rating of 86% based on 259 user reviews from 4 recognized software review sites.

259 reviews

86%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of Redtail CRM reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Competitive Pricing: Compared to other CRMs in the same price range, Redtail offers more advanced features while remaining affordable.
Transition Process: Migrating from another CRM to Redtail is well-supported and typically goes smoothly, minimizing disruption to your business operations during the transition.
User-Friendly Interface: Redtail CRM is easy to use and straightforward, even for users with varying levels of technical expertise.

Cons

Inconsistent Customer Support: Support agents sometimes struggle with simple requests, and the lack of direct phone numbers can make it difficult to get timely assistance. After the initial migration, users found ongoing support, training and assistance to be insufficient.
Technical Glitches: Users may encounter small bugs, such as incorrect information transfers or the creation of duplicate profiles when data doesn't match exactly.
Challenging Initial Setup: The initial configuration of Redtail, especially setting up workflows, can be difficult, making the implementation process time-consuming and complex.

Researcher's Summary:

Testing Redtail CRM’s full Growth plan was a rollercoaster of impressions. I’d say it’s an adequate tool for finance professionals, but be prepared for a steep learning curve."

One of Redtail's standout features is its workflow capabilities. I was impressed by how it helps build complex, detailed workflows to track each piece of business from start to finish. This undoubtedly prevents missed opportunities and service issues. That said, for smaller offices, this feature might be overkill, potentially creating more work than it saves.

The customization options are extensive. You can tailor almost every field to fit specific business needs, which is great for those willing to invest the time to set it up properly. And therein lies the rub — it took a lot of trial and error to get the system working smoothly for our team.

I appreciated the mobile syncing feature, which kept my contacts and calendar at my fingertips. The calendar view in Redtail is also quite good, and the ability to set different permissions for each staff member is a nice touch.

The system can be frustratingly slow at times, and I experienced glitches, particularly when integrating with other software. So, expect some potential technical hiccups along the way.

While Redtail is a good choice for managing workflows and generating professional-looking reports, I found it less suitable for complex marketing campaigns or deep customer data analysis. It's worth noting that it's designed specifically for the financial services industry, which limits its flexibility compared to more general CRM platforms.

Redtail CRM is a potent tool that can be incredibly useful once you've climbed the steep learning curve. It's best suited for complicated teams in the financial services sector who are willing to invest time in learning its nuances and customizing it to their needs.

Key Features

Automated Workflows: The workflow feature allows you to design automated processes that mirror your existing business practices. This not only creates a clear trail of accountability for each task but also ensures you don’t overlook any important step.
Extensive Integrations: Redtail continuously expands its integration capabilities with industry partners, allowing you to easily incorporate Redtail into your existing tech stack.
Calendar System: This feature offers a bird’s eye view of schedules for the entire office. The Retriever Cloud tool takes it a step further by enabling sync with Office 365 and Google Calendar.
Seminar Management: The platform helps improve customer experience by going beyond simple event planning, doubling as a tracking tool for call and email campaigns.
Contact and Task Management: Redtail CRM excels in enabling teams to work together seamlessly. Users can easily collaborate on client-related tasks, ensuring that everyone stays on the same page and client needs are met.
Opportunity Tracker: This feature helps monitor and progress prospects or current clients through the sales process, keeping all open opportunities visible and manageable in one location.
Mobile Accessibility: Redtail’s free mobile app lets you access CRM data on the go. While it focuses only on core functions like managing contacts, calendars and opportunities, it provides the flexibility needed for professionals who are frequently away from their desks.

Approach to Common Challenges

Integration With Financial Tools: Redtail's deep integration with popular financial software helps wealth management professionals simplify their workflows, reduce data entry errors and ensure data consistency.
Compliance Focus: The platform helps firms adhere to industry regulations like SEC Rule 17a-4(f), maintaining compliance in a highly regulated industry.
Specialized CRM for Financial Services: Redtail is specifically built to assist financial advisors, providing tailored support to meet industry-specific requirements.

Cost of Ownership

Frequently asked questions regarding Redtail CRM pricing include:

Q: What’s the cost of Redtail CRM?

A: The pricing for Redtail CRM starts at $39 per user per month when billed annually for the Launch plan, which includes basic CRM features. For unlimited users and additional features like Redtail Imaging and Redtail Speak, the Growth plan starts at $59 per user per month, billed annually. There's also an Enterprise plan with customizable options, but you’ll need to contact Redtail directly for pricing details.

Q: Are there any additional costs associated with Redtail CRM?

A: In addition to the subscription fees, there may be additional costs associated with certain features, integrations or support services.

Limitations

At the time of this review, these are the limitations according to user feedback:

Redtail CRM restricts users from performing bulk data imports, customizing layouts or making mass edits independently. Instead, users must complete these tasks through Redtail's support team, which can be time-consuming.
The platform doesn’t offer email integration in the base package. Users need to purchase it as an optional add-on, potentially increasing the overall cost.
Despite multiple support channels, including a Google forum, help desk and remote technical support, Redtail's customer service in unsatisfactory.

Demo Resources

Free Trial: You can sign up for a 30-day free trial on Redtail’s website, available for both the Launch and Growth plans.
YouTube: Many users, partners and Redtail share demo videos on YouTube featuring the CRM and the mobile app.

FAQs

Frequently asked questions regarding Redtail CRM include:

Q: What does Redtail CRM do?

A: Redtail CRM is a customer relationship management (CRM) software specifically designed for financial advisors and firms. It helps manage client relationships, track assets, generate reports and comply with industry regulations.

Q: Does Orion own Redtail?

A: Orion Advisor Services acquired Redtail CRM in 2022. This acquisition brought together two leading providers of technology solutions for financial advisors.

Q: Does Redtail integrate with Outlook email?

A: Yes, Redtail CRM integrates with Outlook email. This integration lets you manage your email communications and contacts directly within the CRM platform.

Q: What are Redtail workflows?

A: Redtail workflows are customizable processes that automate tasks. You can create workflows for various activities, such as onboarding new clients, managing client reviews or tracking follow-ups.