Home » Articles » Practical Applications of CRM During the Financial Advice Lifecycle

Most clients follow a fairly predictable life pattern, which informs the sort of financial advice & services you provide. They get an education, buy their first car and first home. They have children. They buy a bigger home and retire.

But your book of business is full of clients, and their spouses and children—all at different life stages. It’s a logistical nightmare trying to keep track of everyone. Unless you acquire some technological assistance.  

That’s why people buy a CRM like *ahem* Maximizer CRM for Financial Advisors. It automates a whole range of work processes, helping you meet your clients’ changing needs. 

Client Needs & Life Event Triggers 

A recent PwC report illustrates the client lifecycle on a timeline populated by “life triggers” and “needs”. These events span a few years to decades, and all of them have huge implications for financial planning and advice.  

Of course, some people blaze their own lifepath and can’t be easily fitted into this model. But you can make a safe assumption that your clients will experience some, if not all, of the following events: 


A recent report from BMO Wealth Management shows millennials are more likely to continue with their post-secondary education to compete in a cut-throat marketplace. But the price of education has also shot up over the last two decades, becoming a major expense—particularly for those struggling to go it alone without parental help. You’ll want to use CRM to track each child as they near university age. You’ll also need to track clients who are able to draw down on their RRSP for those who plan to pursue their education later. 

First Big Purchase 

After education, the next big expense is usually a first home. Some young home-buyers get help from their baby boomer parents—while others will be looking to draw down from their RRSP. You’ll need to use your CRM to track RRSP payments and withdrawals, and find the most efficient way for clients to pass down money between generations. You’ll also be looking to manage risk through a range of insurance products, including life insurance (something which young people often think doesn’t apply to them). 

A CRM allows you to track the services and products your clients are using, and identify gaps where you’re able to up-sell or cross-sell. 

Starting & Growing a Business 

This isn’t applicable to all your clients. But you’ll need to consider those who are business owners. Again, anticipate up-sell and cross-sells for other investments and insurance products. 


Children can be a joy. But they’re also a huge expense. Your CRM is integral to managing this aspect of your clients’ financial lives. A pre-configured yet adaptable solution like Maximizer CRM for Financial Advisors comes out-of-the-box with everything for RESPs to insurance—for individuals or entire households. You’ll also be able to set up automatic date triggers for example, to remind you to inform clients when they will no longer be eligible for RESP grants.  

Retirement Planning 

Likely one of the biggest client conversations you’ll ever have is retirement planning. If your clients are organized, they’ll start planning well ahead of time. A CRM can track where your clients are currently at and where they need to be. You can also “set and forget” time and date triggers so you never miss a client review or key milestone again.  

Legacy Planning  

A major concern, particularly for HNW clients, is legacy and estate planning. Again, we’re going to shamelessly plug Maximizer CRM for Financial Advisors: it is the perfect tool for this. The configuration and setup allows you to manage clients by household and as individuals. That way you get a comprehensive view not just of your client, but of their whole family and the products and services they have.  

Managing Multiple Clients 

So far, we haven’t really delved into how to manage client life stages beyond the level of the individual client or household. What about how you can use CRM to drive efficiencies across your practice? 

Well, a CRM like Maximizer CRM for Financial Advisors is configured to help you deliver the personalized service your clients expect at scale. With dashboards, you’re able to consolidate client data into one easy-to-digest view. You can look at all your clients turning 61 this month or those who are due for a face-to-face meeting. And that’s just the start.  

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