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The purpose of the CRM is to warehouse contact information, meeting notations, and assign ourselves future tasks. With so many irons in the fire, we need to get things out of our heads and into a system so that nothing slips through the cracks.

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Not all advisors will need a traditional CRM. We just need to ensure client data is accurate and up to date, and nothing falls through the cracks.

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From a practical compliance standpoint, every client file must have:

• a contact record
• all client information we can reasonably uncover and document
• all communications and deliverables documented
• a cadence for following up and keeping on track
• we are never "done" with an Active Client.

There is always a task or reminder to be assigned.

There is always a "what's next."

How we go about getting this accomplished depends on the advisor, the practice, and the needs of the client.