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Suppose images of garden hedges come to mind when you think of the term ‘hedge fund,’ you’re not too far off. A hedge fund is an alternative investment fund that trades in liquid assets by pooling together multiple investments from wealthy investors. Like a garden hedge which is grown for privacy and security, a hedge fund lowers or ‘hedges’ the risk for investors by diversifying their portfolios. Hedge funds are often an investment choice for high net-worth individuals. They are managed by a fund manager who has the knowledge and expertise to make informed and profitable decisions. With clients’ money in their hands, hedge fund managers need to understand exactly who their clients are by having a comprehensive CRM system in place. We have detailed the top 5 CRM software that hedge fund managers should think about using.
Upfront Conclusion
The best hedge fund crm software right now is Pinnakl and AtomInvest
Top 5 CRM for hedge funds
- Pinnakl – best for user-friendly technology
- AtomInvest – best for managing the investment lifecycle
- Navatar – best for business intelligence
- Backstop Solutions – best for maximizing productivity
- DealCloud – best for managing an extensive client database
1. Pinnakl – best for user-friendly technology
Pricing: starting from $250 per month
Pinnakl was explicitly created for hedge fund managers as a technologically advanced CRM solution that is user-friendly, affordable, and easy to set up, yet still sophisticated compared to traditional software. Pinnakl combines portfolio management, order management, and customer relationship management within one software and displays information in an easily digestible way. The software also has powerful AI reporting capabilities to help improve team performance.
Key features:
- Track every client and their interactions with your business
- Manage the onboarding of new clients
- Integrate your emails and calendars
- Financial reporting tools
- AI to create customized dashboards, insights, and reporting
Reasons to buy:
- Explicitly designed for hedge fund managers
- Get a view over all your clients
- Powerful AI which can give you suggestions to improve your campaigns, efficiency, and customer service
- Manage your portfolio and orders within the same software as your CRM
- Integrate with your existing applications for no extra charge
Reasons to avoid:
- Pricing plans are not shown on the website. The monthly fee was across the internet
- No free trial
- No support hub, just an online chat function
2. Atom Invest – best for managing the investment lifecycle
Pricing: Custom pricing
Atom Invest is a unified software that aims to pull together all the parts of the investment lifecycle into one platform. The software enables hedge funds to manage relationships with clients, optimize their portfolio, improve their ESG impact and receive seamless reporting. It is used by some big names in the industry, with over 30,000 users worldwide. The software is clean and modern, ideal for visual learners.
Key features:
- Manage new and existing deals with clients with the deal pipeline
- Centralize all client details
- Keep track of all interactions with clients
- Automate collection of data from portfolio companies
- Reporting and insights on how to improve your performance and ESG strategy
Reasons to buy:
- Real-time analytics on how your funds are performing
- Onboard clients efficiently
- View your ESG and impact data
- Learn more about how risk-averse your clients are
- Track the performance of all your portfolios in one place
- Support hub ticketing system for professional help
Reasons to avoid
- Custom pricing could be unpredictable and expensive
- Lots of elements to learn about, which could take time
3. Navatar – best for business intelligence
Pricing: not provided on the website
Navatar is a CRM software for the financial market with different products depending on your business need. There is a specific product for hedge funds that aims to provide you with data and intelligence to help you optimize your strategy. Navatar was built on Salesforce, which offers users a seamless experience, reliability, and security.
Key features:
- Relationship management workflows to engage with clients
- Measure and track all client touchpoints with your fund
- In-depth reporting and analytics
- Integrate with all your day-to-day applications
- Measure performance against the industry and competitors
Reasons to buy:
- Understand more about your clients and business performance
- Create a metric-driven and insight-led strategy
- Integrate with programs like LinkedIn and Outlook to combine all your contacts
- Manage all your transactions and deals in one place
- Find a competitive advantage by tracking the performance of your peers
Reasons to avoid
- There is no price available on the website or on the internet
- Lack of professional 24/7 support
- It may be time-consuming analyzing so much reporting data
4. Backstop Solutions – best for maximizing productivity
Pricing: not provided on the website
Backstop Solutions focuses on saving time and helping investment teams improve their productivity. The software aims to transform complicated and time-consuming tasks into streamlined processes such as managing relationships, client communication, and prospect tracking. Backstop Solutions helps fund managers move away from recording information on spreadsheets, paper documents, and multiple platforms by consolidating all data within one system.
Key features:
- Capture all contacts in one place
- Record notes, meetings, calls, and documents with each client
- Manage client information
- Automatic syncing with contacts from email accounts
- Learn about your client types and investment outcomes
Reasons to buy:
- It can be used on iOS and Android mobile devices
- Speed up time-consuming tasks like data entry and document sharing
- Create a centralized system of client information
- Access digital documents and client materials
- View the complete transaction and activity history with each client
- Professional customer service to help with setup and any custom features you need
Reasons to avoid:
- There is no pricing information on their website
- Navigation of the software has been reviewed as “difficult” due to the number of features
- Custom reporting takes time to set up
- The UI/UX was reported to be “dated”
5. DealCloud – best for managing an extensive client database
Pricing: not provided on the website
DealCloud is an all-inclusive software hedge funds who need to manage an extensivedatabase of clients. It can also be used for business development, pipeline management, marketing and reporting. It has been used by the global financial institution KMPG to centralize their processes alongside a variety of other businesses in the industry. DealCloud also connects with third-party applications and has an automated marketing tool to help manage new relationships.
Key features:
- Manage all your contacts and track interactions
- Create workflows to manage deals and transactions
- One-click downloadable and custom reports
- Email marketing function to communicate with clients and prospects
- Integrate with MS Teams, Outlook, and SharePoint to collaborate with colleagues
Reasons to buy:
- Centralize customer and communication data
- Speed up day-to-day activities
- It can be used on mobile and desktop
- Create informed marketing campaigns using automated reports
- Responsive support team
Reason to avoid:
- There is no pricing information on their website, although it was reviewed as expensive
- The mobile app is reviewed as “difficult to navigate”
Frequently Asked Questions (FAQs)
Why does a hedge fund need CRM software?
A hedge fund can manage anywhere from hundreds of thousands to millions of dollars of investments every day on behalf of their high net-worth clients. It is essential that fund managers know who their customers are, how to contact them, when they have interacted with your business, and how to keep their loyalty in the long-term. A CRM software will take out the manual labor of tracking client interactions and will automatically pull that data together for you. It can then help you make informed decisions about their investments and follow up on any new leads.
Why is pricing not available for hedge fund CRM software?
Unlike other industries that have software pricing readily available, a lot of the software researched for this article did not have pricing available on their website. Due to the complexity of the industry and the specific needs of each hedge fund, the pricing packages are created after you have spoken to a sales representative. They can get a better idea of which features and packages would suit your fund the best.
How can CRM software improve the performance of a hedge fund?
Understanding who your clients are and their investment preferences can help you to maximize their investments. For example, through looking at demographics and past trends, you may identify that a certain age group is more risk-averse than others. This can help make an insight-led business decision when you are talking with a new client.
Learning more about how your customers found your business (social media, website, email) will help you make decisions on where to focus your marketing. If you find that social media is bringing lots of clients, you may want to create a social media marketing campaign to reach more of your audience and, in turn, gain more clients.