This past week I had two online sessions with a member of the sales team at Redtail, the CRM software provider. It's interesting how this came to pass. In this post, I'll share what I learned.
A few weeks ago I wrote about my frustration in trying to reach Redtail's helpdesk. One Red employee noticed I was on hold for a while but had hung up. Much to my surprise, he called me shortly thereafter. Since then he and I have had a few discussions about the software. Here's the bottom line: Redtail is an excellent choice for its price.
I have been using ACT for over 10 years and am very familiar with it. While I was reviewing Redtail I was using ACT as my point of reference. I asked some very granular questions about Retail's features and functionality.
Because Redtail is integrated with my custodian TradePMR, account information is updated daily. This provides several benefits. For example, in Redtail I can query all clients who are holding a specific security and send them a group email to inform them of any new development. However, as integrations go, this one isn't as robust as I would like.
To clarify, I would like to see client information integrated as well; including name, (snail) mail and email addresses, DOB, phone number, etc. These items are included on every new account application so the information is already in the system. Including this data in the integration would greatly enhance Redtail's value. If this is a compliance issue, it could easily be mitigated by obtaining a client's authorization.
