Best Financial Advisor Tools in 2025: Complete Software Guide
Running a modern financial advisory practice requires the right technology stack. From CRM and financial planning to portfolio management and research, the tools you choose directly impact client experience, operational efficiency, and practice growth.
This guide covers the essential software categories for RIAs, wealth managers, and financial planners—plus emerging tools that are changing how advisors work.
The Modern Advisor Tech Stack
A comprehensive advisory practice typically needs:
- CRM - Client relationship management
- Financial Planning - Goal-based planning and projections
- Portfolio Management - Trading, rebalancing, reporting
- Research & Monitoring - Market data and investment research
- Client Reporting - Performance reports and dashboards
- Risk Assessment - Risk tolerance and portfolio analysis
- Tax Planning - Tax optimization tools
- Document Management - Secure file storage and e-signatures
- Compliance - Archiving and supervision tools
Let's examine the leading options in each category.
CRM Software
Your CRM is the hub of client relationships—tracking interactions, managing workflows, and ensuring nothing falls through the cracks.
Redtail CRM
The industry standard for independent advisors
Redtail dominates the independent RIA market with its purpose-built features and extensive integrations.
Key Features:
- Contact and household management
- Workflow automation
- Calendar and task management
- Seminar and event tracking
- 150+ integrations with advisor tools
- Mobile app for iOS and Android
Pricing: $99/month for database (up to 15 users)
Best For: Independent advisors, small to mid-size RIAs, practices needing extensive integrations
Wealthbox
Modern design meets advisor functionality
Wealthbox brings consumer-grade UX to advisor CRM with a clean, intuitive interface.
Key Features:
- Social media-style activity stream
- Task and workflow management
- Email integration (Gmail, Outlook)
- Built-in texting capabilities
- Pipeline management for prospects
- Modern, mobile-friendly design
Pricing: Starting at $59/user/month
Best For: Tech-savvy advisors, practices wanting modern UX, teams prioritizing ease of use
Salesforce Financial Services Cloud
Enterprise power for large RIAs
Salesforce brings its enterprise CRM capabilities to wealth management with specialized features.
Key Features:
- Comprehensive household modeling
- Referral and center of influence tracking
- Advanced reporting and analytics
- Einstein AI for insights
- Massive integration ecosystem
- Highly customizable
Pricing: Starting at $225/user/month
Best For: Large RIAs, enterprise wealth managers, practices needing advanced customization
Other Notable CRMs
| Platform | Best For | Starting Price |
|---|---|---|
| Junxure | Established practices | Custom pricing |
| AdvisorEngine CRM | Integrated workflows | Custom pricing |
| Microsoft Dynamics 365 | Microsoft shops | $65/user/month |
| Practifi | Enterprise RIAs | Custom pricing |
Financial Planning Software
Financial planning software helps advisors create comprehensive plans, run projections, and engage clients in the planning process.
MoneyGuidePro
The market leader in goal-based planning
MoneyGuidePro (owned by Envestnet) dominates the financial planning software market with its intuitive goal-based approach.
Key Features:
- Goal-based planning methodology
- Play Zone for interactive client meetings
- BlocksGPT AI-powered insights
- Social Security optimization
- Estate planning visualizations
- Excellent client engagement tools
Pricing: ~$1,295-$1,995/year
Best For: Advisors focused on goal-based planning, client engagement, and behavioral finance
eMoney Advisor
Comprehensive planning with superior aggregation
eMoney (owned by Fidelity) offers the most comprehensive planning capabilities with industry-leading account aggregation.
Key Features:
- Advanced cash flow planning
- Best-in-class account aggregation
- Client portal with real-time updates
- Tax planning integration
- Estate planning features
- Detailed "what-if" analysis
Pricing: ~$4,000-$5,000+/year
Best For: Advisors needing detailed cash flow analysis, practices serving high-net-worth clients
RightCapital
Modern alternative with competitive pricing
RightCapital has emerged as a popular choice for younger advisors and growing practices seeking modern design at reasonable prices.
Key Features:
- Clean, modern interface
- Tax planning integration
- Retirement income mapping
- Student loan planning
- Estate planning tools
- Competitive pricing
Pricing: Starting at ~$1,500/year
Best For: Younger advisors, practices serving millennials, cost-conscious firms wanting modern features
Other Planning Platforms
| Platform | Specialty | Typical Cost |
|---|---|---|
| Advizr | Standalone simplicity | ~$1,200/year |
| Voyant | Cash flow modeling | ~$1,800/year |
| Naviplan | Advanced modeling | ~$2,500/year |
| Orion Planning | Orion ecosystem | Bundled pricing |
Portfolio Management & Reporting
Portfolio management platforms handle the investment side: trading, rebalancing, performance reporting, and billing.
Orion Portfolio Solutions
End-to-end portfolio management
Orion has become one of the largest portfolio management platforms through acquisitions and organic growth.
Key Features:
- Model portfolio management
- Automated rebalancing
- Performance reporting
- Billing and fee management
- Tax-loss harvesting
- Client portal
- Trading and compliance
Pricing: Based on AUM, typically 5-15 basis points
Best For: Mid to large RIAs, practices wanting comprehensive all-in-one solution
Black Diamond (SS&C)
Premium reporting and analytics
Black Diamond is known for sophisticated reporting capabilities and serves many high-end advisory practices.
Key Features:
- Customizable reporting
- Multi-custodian support
- Alternative investment tracking
- Advanced analytics
- Client portal
- Rebalancing tools
Pricing: Based on AUM, typically higher-end pricing
Best For: High-net-worth practices, advisors with complex portfolios, firms prioritizing reporting quality
Tamarac (Envestnet)
Rebalancing powerhouse
Tamarac excels at rebalancing and trading, making it popular with advisors running model portfolios.
Key Features:
- Advanced rebalancing engine
- Trading and order management
- Performance reporting
- CRM capabilities
- Client portal
- Tax-smart trading
Pricing: Based on AUM
Best For: Advisors focused on model-based investing, practices needing sophisticated rebalancing
Other Portfolio Platforms
| Platform | Best For | Notes |
|---|---|---|
| Addepar | Ultra-high-net-worth | Best alternatives tracking |
| Morningstar Office | Research-integrated | Combines data + management |
| Riskalyze Autopilot | Risk-first advisors | Trading + risk together |
| Altruist | Fee-conscious RIAs | Custodian + software combo |
Research & Market Monitoring Tools
Research tools help advisors analyze investments, monitor markets, and stay informed on client holdings.
Morningstar Advisor Workstation
The gold standard for fund research
Morningstar's professional platform provides comprehensive research on funds, stocks, and managed investments.
Key Features:
- Fund and ETF analysis with star ratings
- Stock research and fair value estimates
- Portfolio X-Ray analysis
- Model portfolio marketplace
- Hypothetical illustrations
- Client-ready reports
Pricing: ~$5,000-$15,000/year depending on tier
Best For: Fund-focused advisors, practices needing Morningstar ratings for compliance/marketing
YCharts
Fundamental research and visualization
YCharts provides professional-grade research tools with emphasis on fundamental data visualization.
Key Features:
- Fundamental charts and metrics
- Stock and fund screening
- Model portfolios
- PDF report generation
- Economic indicators
- AI-powered features
Limitations:
- No mobile app
- Higher price point
- Less suited for active trading
Pricing: ~$500/month or $6,000/year
Best For: Advisors creating client presentations, fundamental research, long-term investors
Stock Alarm Pro
Real-time monitoring and alerts for advisors (New Entrant)
Stock Alarm Pro brings institutional-quality monitoring and research tools to advisors at an accessible price point.
Key Features:
- Real-time price alerts - Monitor client holdings with instant notifications
- S&P 500 screener - Screen 500 stocks by 60+ fundamental and technical metrics
- Relative strength rankings - Identify market leaders for portfolio positioning
- Sector heatmaps - Visual market overview for client meetings
- AI earnings summaries - Quick insights on holdings' quarterly results
- Cross-platform sync - iOS, Android, and web applications
- Unlimited watchlists - Organize by client, strategy, or sector
Why Advisors Use It:
- Monitor all client positions with customizable alerts
- Research new opportunities with professional screening
- Prepare for client meetings with quick market overview
- Get alerted to significant moves in held positions
- Track sector rotation and relative strength
Pricing: Free tier available; Pro plan $44/month or $400/year
Best For: Advisors wanting affordable professional research, portfolio monitoring without enterprise costs, practices needing real-time alerts across client holdings
Koyfin
Bloomberg-style interface at reasonable cost
Koyfin provides comprehensive market data with a modern interface.
Key Features:
- Advanced charting
- Screening and filtering
- Watchlist management
- News aggregation
- Economic data
Pricing: Free tier; premium from $35-100/month
Best For: Data-driven advisors, practices wanting Bloomberg-like features affordably
Research Tool Comparison
| Tool | Strength | Mobile App | Monthly Cost |
|---|---|---|---|
| Morningstar Workstation | Fund research, ratings | Limited | ~$400-1,200 |
| YCharts | Visualizations, reports | ❌ | $500 |
| Stock Alarm Pro | Alerts, screening, monitoring | ✅ | $44 |
| Koyfin | Data breadth, charting | ✅ | $35-100 |
| FactSet | Deep fundamentals | ✅ | $1,000+ |
Risk Assessment Tools
Risk tools help advisors understand client risk tolerance and align portfolios accordingly.
Riskalyze
The pioneer in risk number
Riskalyze popularized quantifying risk tolerance with its "Risk Number" concept.
Key Features:
- Risk tolerance questionnaire
- Portfolio risk analysis
- Stress testing
- Compliance documentation
- Autopilot trading platform
- Proposal generation
Pricing: Starting at ~$3,600/year
Best For: Advisors building risk-first practices, compliance-focused firms
Nitrogen (formerly Riskalyze)
Note: Riskalyze rebranded to Nitrogen in 2023, offering expanded features beyond risk assessment.
Other Risk Tools
| Platform | Approach |
|---|---|
| Pocket Risk | Behavioral risk assessment |
| FinaMetrica | Academic risk profiling |
| Tolerisk | Scientific risk evaluation |
Tax Planning Tools
Tax planning has become increasingly important, with dedicated tools emerging for advisors.
Holistiplan
Automated tax return analysis
Holistiplan uses AI to analyze client tax returns and surface planning opportunities.
Key Features:
- Upload tax returns (PDF)
- Automatic opportunity identification
- Side-by-side comparisons
- Client-ready reports
- Integration with planning software
Pricing: ~$1,500-$2,000/year
Best For: Advisors incorporating tax planning, practices serving high-income clients
Corvee
Comprehensive tax planning
Corvee provides detailed tax planning capabilities beyond return analysis.
Key Features:
- Multi-entity planning
- Scenario modeling
- Tax projection
- Strategy recommendations
Pricing: Custom pricing
Best For: Advisors with CPA backgrounds, complex client situations
Document Management & E-Signatures
Secure document handling is essential for compliance and client experience.
DocuSign
Industry standard for e-signatures
DocuSign remains the most recognized e-signature platform with extensive integrations.
Pricing: Starting at $15/user/month
Docupace
Purpose-built for financial services
Docupace combines document management, e-signatures, and workflow automation for advisory firms.
Key Features:
- Document storage
- E-signatures
- Workflow automation
- Compliance features
Pricing: Custom pricing
Other Options
| Platform | Specialty |
|---|---|
| LaserApp | Form filling + e-sign |
| Box | Secure cloud storage |
| Citrix ShareFile | Compliance-focused storage |
Building Your Tech Stack
For Solo Advisors / Small Practices
Budget-conscious starter stack:
- CRM: Wealthbox ($59/month)
- Planning: RightCapital (~$125/month)
- Research: Stock Alarm Pro ($44/month)
- E-signatures: DocuSign ($15/month)
- Portfolio: Custodian-provided tools
Total: ~$250/month
For Growing RIAs (3-10 advisors)
Comprehensive mid-tier stack:
- CRM: Redtail ($99/month)
- Planning: MoneyGuidePro (~$150/month)
- Portfolio: Orion (AUM-based)
- Research: Stock Alarm Pro + Morningstar
- Risk: Riskalyze (~$300/month)
- Tax: Holistiplan (~$150/month)
For Large RIAs / Enterprise
Full-featured enterprise stack:
- CRM: Salesforce Financial Services Cloud
- Planning: eMoney Advisor
- Portfolio: Black Diamond or Addepar
- Research: YCharts + Morningstar
- Risk: Nitrogen (Riskalyze)
- Tax: Holistiplan
- Compliance: Smarsh, Global Relay
Integration Considerations
Modern advisor tools must work together. Key integration points:
CRM ↔ Planning: Client data flows between relationship management and financial plans
Planning ↔ Portfolio: Account data syncs for accurate projections
Portfolio ↔ Custodian: Trading and account data automation
CRM ↔ Portfolio: Activity logging and client communications
Research → Portfolio: Investment ideas flow to implementation
Integration Leaders
- Orion - Extensive ecosystem with planning, CRM, trading
- Envestnet - MoneyGuidePro, Tamarac, Yodlee in one family
- Redtail - 150+ integrations with most advisor tools
Emerging Trends in Advisor Technology
AI Integration
AI is transforming advisor tools:
- MoneyGuidePro's BlocksGPT - AI-powered planning insights
- Stock Alarm Pro - AI earnings summaries
- Holistiplan - Automated tax return analysis
- eMoney - Natural language plan queries
Direct Indexing
Platforms enabling personalized index strategies:
- Orion's Custom Indexing
- Parametric (Morgan Stanley)
- Ethic Investing
Unified Platforms
Consolidation toward all-in-one solutions:
- Orion acquiring planning, trading, CRM capabilities
- Envestnet building comprehensive ecosystem
- Altruist combining custody with software
Choosing the Right Tools
Questions to Ask
- What's your AUM and client count? - Determines platform tier needs
- What's your investment philosophy? - Active vs passive affects tool needs
- How tech-savvy is your team? - Impacts training and adoption
- What's your growth plan? - Choose scalable platforms
- What integrations matter most? - Check compatibility before committing
Red Flags to Avoid
- Long-term contracts without trial periods
- Poor customer support reputation
- Limited integration capabilities
- Outdated user interfaces
- Unclear pricing structures
Implementation Tips
- Start with CRM - Foundation for everything else
- Add planning next - Core to client relationships
- Layer in research tools - Support investment decisions
- Integrate gradually - Don't implement everything at once
- Train thoroughly - Tools only work if used properly
Conclusion
The right technology stack can transform your advisory practice—improving client experience, increasing efficiency, and enabling growth. The key is matching tools to your specific needs rather than buying the most expensive options.
Key takeaways:
- CRM is foundational - Start with Redtail, Wealthbox, or Salesforce depending on size
- Planning software is essential - MoneyGuidePro, eMoney, or RightCapital serve different needs
- Portfolio management scales - Graduate from custodian tools as you grow
- Research tools vary widely - From enterprise Morningstar to accessible Stock Alarm Pro
- Integration matters - Choose tools that work together
- AI is coming - Look for platforms incorporating intelligent features
- Total cost adds up - Budget for the full stack, not just individual tools
The advisor technology landscape continues evolving rapidly. Stay informed on new entrants and features that could improve your practice.