Why Migrate Your Data To The Cloud?

Building a financial services practice is no easy task, as you well know. Servicing clients and building your book of business is top priority. Very quickly, however, without the proper systems in place, you end up with client data in multiple locations – emails, Outlook contacts, notepads, custodian platforms, etc. Wouldn’t it be great if all that information were located in one secure place and accessible anywhere, anytime?

The Modern CRM

Enter the Customer Relationship Management tools of today. There are many options when it comes to CRMs including Redtail and Salesforce. These systems have a few main benefits including:

  • Anywhere/Anytime Accessibility – Cloud-based systems allow you to access your client’s information securely from anywhere at anytime using your smartphone, tablet or laptop
  • Scalablity – as your practice grows, these platforms grow with you meaning you won’t have to continuously migrate your data over time
  • Security – your client’s data is stored securely in world class data centers with stringent physical and cyber security protections
  • Integration – Modern CRMs come with pre-built integrations with most of the additional tools you need to run your business like email, document storage and financial planning tools.

Putting The Pieces Together

Migrating your data to a cloud-based system also brings additional benefits that are not necessarily possible without the consolidation of your data. Since CRM systems allow you to relate one record to another, you can very easily relate all sorts of information to your client’s record. For instance, those required client meeting notes – they can be “attached” directly to your client’s record where you can easily view a list of all the notes over time and sort them by date, priority, etc.

Reports and Dashboards

Once you’ve migrated your data to the cloud, suddenly a world of robust reporting becomes possible. Today’s CRM systems also allow you to represent your data graphically through dashboards. For instance, you can display a list of your top 10 clients by AUM or show a bar graph representing AUM by client segment. And these reports and graphs can be emailed to you daily or weekly so you can gain deeper insight into your practice.


Investing in a cloud-based CRM will also add value to your practice as a whole. Your succession planning will be much easier when you can easily provide information such as average client age to potential buyers or partners. It will also reflect a certain amount of business acumen and maturity that you have all your Key Process Indicators (KPIs) updated in real-time.


Cloud PM has been helping advisors choose the right technology for their practices for years. We always recommend starting with a cloud-based CRM system and then selecting tools that integrate easily with your data “hub.” Efficient processes begin with having a single source of truth which will eliminate the need to re-enter data in multiple systems and will open up a world of integration possibilities to better serve your clients.

Contact Cloud PM to see how we can help you migrate your data to a cloud-based CRM system today. If you’re already using a CRM, we can help you make the most of that investment.




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