The Problem with “Efficiency-First” CRMs

Most CRM systems promise one thing: efficiency. But in wealth management, focusing on speed alone is a mistake.

Adrian Johnstone, CEO of Practifi, believes the future of CRM isn’t about doing more, faster — it’s about building deeper, more meaningful client relationships.

Why? Because successful advisory firms don’t grow through transactions — they grow through trust. And trust takes more than automation; it takes connection.

Why Efficiency Alone Falls Short for Advisors

The typical CRM is built for high-volume, transactional sales teams. But wealth management is different. It’s personal. It’s relationship-driven.

When CRMs prioritize efficiency without enhancing the client experience, they create gaps:

• Important life events get missed
• Conversations lose context
• Relationships feel transactional, not human

Efficiency matters — but without engagement, efficiency alone doesn’t drive growth.

What a CRM Should Actually Do for Advisors

A CRM for wealth management should be more than a digital Rolodex or task manager. It should empower advisors to strengthen client relationships by:

✔ Helping them remember meaningful life events
✔ Providing clear, real-time client insights
✔ Supporting more engaging, personalized conversations
✔ Encouraging connection — not just automation

The best firms don’t just run efficiently — they’re memorable. And memorable firms earn trust that leads to long-term growth.

These insights are inspired by the Next Mile podcast featuring Adrian Johnstone, CEO of Practifi. Listen to the full episode here and explore more articles in this series.