For financial advisors, wealth managers, and RIAs (Registered Investment Advisors), a Client Relationship Management (CRM) system is not just a tool—it’s the backbone of daily operations. From managing client interactions to ensuring compliance, the right CRM can make or break efficiency and client experience.
Many advisory firms start their journey with Redtail CRM because it is designed specifically for financial services. However, as businesses expand, firms often feel the need for a more scalable, customizable, and integrated platform. That’s where Salesforce CRM, especially Salesforce Financial Services Cloud (FSC), comes into play.
Migrating from Redtail to Salesforce can seem complex, but with the right strategy, it can transform your client management process. This guide will cover why firms move, challenges faced, migration steps, best practices, and post-migration benefits—making it the ultimate resource for financial advisors planning this transition.
Why Do Firms Move from Redtail to Salesforce?
1. Scalability & Growth
-
Redtail works well for smaller teams, but as your firm grows, it may not scale effectively.
-
Salesforce supports everything from small practices to global enterprises, making it future-proof.
2. Customization & Flexibility
-
Redtail offers fixed workflows, while Salesforce allows firms to build custom dashboards, automate client journeys, and tailor processes.
-
Advisors can personalize CRM workflows for investment planning, estate planning, retirement, and insurance.
3. Integration Capabilities
-
Redtail integrates with financial tools but has limitations.
-
Salesforce integrates with thousands of apps via AppExchange and APIs, including custodians, portfolio management systems, compliance platforms, and marketing tools.
4. Compliance & Security
-
Both platforms are compliant with financial regulations, but Salesforce offers advanced audit trails, encrypted data storage, and role-based access.
-
This makes Salesforce better for large firms dealing with strict compliance requirements.
5. Advanced Automation & AI
-
Salesforce Einstein AI provides predictive analytics, next-best-action suggestions, and automated workflows.
-
Advisors can use AI to forecast client needs, identify cross-selling opportunities, and personalize engagement.
Challenges in Redtail to Salesforce Migration
Moving from Redtail to Salesforce isn’t just about exporting and importing contacts. Firms often encounter these challenges:
-
Data Mapping – Aligning Redtail fields (e.g., “Households,” “Notes”) to Salesforce objects (Accounts, Contacts, Opportunities, Activities).
-
Data Cleansing – Removing duplicates, outdated contacts, and inconsistent formats.
-
Historical Records – Migrating client notes, activity history, and compliance logs without data loss.
-
User Adoption – Teams familiar with Redtail need training to adapt to Salesforce’s advanced features.
-
Workflow Differences – Processes in Redtail may not directly translate into Salesforce workflows.
-
Integration Gaps – Re-establishing integrations with custodians, compliance systems, or financial planning software.
The Step-by-Step Redtail to Salesforce Migration Process
Step 1: Planning & Assessment
-
Evaluate current Redtail CRM usage.
-
Identify essential data to migrate: Clients, Accounts, Households, Notes, Activities, Workflows, Documents.
-
Decide whether to use Salesforce Financial Services Cloud (FSC) or standard Salesforce CRM. FSC is highly recommended for financial firms.
-
Set migration goals: Do you want a simple data move, or full transformation with workflows and integrations?
Step 2: Data Mapping & Cleansing
-
Map Redtail fields to Salesforce objects:
-
Redtail Contacts → Salesforce Contacts
-
Redtail Households → Salesforce Accounts (Households)
-
Redtail Activities → Salesforce Tasks & Events
-
Redtail Notes → Salesforce Notes/Activities
-
-
Clean data before moving:
-
Standardize addresses, phone numbers, and email formats.
-
Merge duplicate clients.
-
Remove outdated leads or inactive accounts.
-
Step 3: Choosing a Migration Method
Firms can choose from:
-
Manual Migration (CSV Export/Import)
-
Export data from Redtail as CSV files.
-
Use Salesforce Data Loader or Data Import Wizard to upload.
-
Suitable for small firms with <10,000 records.
-
-
Automated Migration Tools
-
Tools like Dataloader.io, MuleSoft, Skyvia, or custom ETL pipelines.
-
Ideal for large datasets, ensuring historical records, activities, and notes are preserved.
-
-
Hiring Salesforce Experts
-
Certified consultants handle data mapping, cleansing, and integration.
-
Recommended for firms with compliance-heavy data.
-
Step 4: Test Migration
-
Run a test with a small dataset.
-
Validate that:
-
Contacts are correctly mapped.
-
Historical notes appear under client profiles.
-
Activities and workflows function properly.
-
-
Get advisor feedback before full migration.
Step 5: Full Data Migration
-
Perform migration of all client records, notes, activities, and workflows.
-
Migrate documents and compliance files.
-
Ensure audit trails remain intact for regulatory compliance.
Step 6: Training & User Adoption
-
Provide training sessions on Salesforce dashboards, reports, and workflows.
-
Create custom dashboards for advisors (e.g., client pipeline, AUM tracking, upcoming reviews).
-
Provide cheat sheets and quick-start guides for daily operations.
Step 7: Post-Migration Optimization
-
Monitor data accuracy.
-
Configure Salesforce automations (e.g., client onboarding journeys, meeting reminders, compliance alerts).
-
Reconnect integrations with financial planning and compliance tools.
-
Regularly update Salesforce with new customizations.
Best Practices for a Successful Redtail to Salesforce Migration
-
Plan Ahead – Define scope, timeline, and key users before starting migration.
-
Involve Stakeholders – Include advisors, operations staff, and compliance officers in the planning process.
-
Clean Data First – Migration is the best time to fix bad data.
-
Prioritize Critical Data – Client profiles, historical notes, and compliance logs should never be skipped.
-
Leverage Salesforce FSC – Built for financial advisors, offering household management, client insights, and compliance tracking.
-
Invest in Training – Successful adoption depends on how comfortable your team feels with Salesforce.
-
Work with Experts – A certified Salesforce partner ensures a smooth transition.
Benefits of Migrating to Salesforce
After moving from Redtail to Salesforce, firms unlock:
-
360-Degree Client View – All client relationships, activities, financial accounts, and documents in one place.
-
Better Client Engagement – Personalized communications with Salesforce AI.
-
Improved Compliance – Stronger audit trails and monitoring features.
-
Enhanced Productivity – Automated workflows reduce manual tasks.
-
Scalable Growth – Ability to support unlimited clients and advisors.
-
Business Intelligence – Advanced dashboards and analytics for data-driven decision-making.
FAQs on Redtail to Salesforce Migration
Q1. How long does it take to migrate from Redtail to Salesforce?
-
Depending on data size, it can take 2–6 weeks for planning, migration, and training.
Q2. Will I lose any data during migration?
-
If done properly with correct mapping, no. Historical notes, activities, and client data can be preserved.
Q3. Can Salesforce integrate with custodians and financial planning tools?
-
Yes. Salesforce has an ecosystem of integrations including Orion, Black Diamond, eMoney, and Morningstar.
Q4. Do I need Salesforce Financial Services Cloud (FSC)?
-
Not mandatory, but FSC is highly recommended for financial advisors as it comes with pre-built wealth management features.
Q5. What is the cost of migration?
-
Costs vary depending on data size, customization, and whether consultants are hired. It can range from $5,000 to $50,000+.
Conclusion
Migrating from Redtail to Salesforce is not just a CRM upgrade—it’s a business transformation. While Redtail serves as a strong entry-level CRM for advisors, Salesforce provides unmatched customization, compliance, and scalability for growing firms.
With the right planning, data cleansing, and expert guidance, firms can ensure a smooth transition and unlock the full power of Salesforce.
🚀 If your financial practice is ready to scale, now is the time to make the move from Redtail to Salesforce and gain a future-proof CRM that grows with you.
