Quick Overview
- 1#1: Orion - Comprehensive wealth platform providing portfolio management, reporting, CRM, trading, and billing for financial advisors.
- 2#2: Black Diamond - Integrated wealth management platform with portfolio accounting, performance reporting, rebalancing, and client portals.
- 3#3: Envestnet Tamarac - End-to-end portfolio management solution offering reporting, billing, trading, and compliance tools for advisors.
- 4#4: Advyzon - All-in-one advisor platform combining CRM, financial planning, portfolio management, and secure document storage.
- 5#5: Wealthbox CRM - Modern CRM tailored for financial advisors to manage client relationships, tasks, workflows, and communications.
- 6#6: eMoney Advisor - Advanced financial planning software with interactive client portals, goal planning, and household-level insights.
- 7#7: RightCapital - Cloud-based financial planning tool specializing in retirement, cash flow, tax, and Social Security optimization.
- 8#8: Morningstar Office - Investment research and analysis platform with portfolio tools, asset allocation, and manager ratings for advisors.
- 9#9: Redtail CRM - Feature-rich CRM for advisors with email integration, calendaring, task management, and mobile accessibility.
- 10#10: Altruist - Modern custodian and software platform offering low-cost trading, portfolio management, and reporting for RIAs.
Tools were selected based on a rigorous assessment of key metrics, including feature depth, reliability, user experience, and value, ensuring alignment with the dynamic needs of financial advisors seeking to optimize operations and elevate service delivery.
Comparison Table
This comparison table explores key financial advisor software solutions, including Orion, Black Diamond, Envestnet Tamarac, Advyzon, and Wealthbox CRM, to guide advisors in evaluating tools that fit their practice. Readers will discover details on core features, usability, integration options, and more, enabling informed choices.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | Orion Comprehensive wealth platform providing portfolio management, reporting, CRM, trading, and billing for financial advisors. | enterprise | 9.7/10 | 9.8/10 | 9.1/10 | 9.3/10 |
| 2 | Black Diamond Integrated wealth management platform with portfolio accounting, performance reporting, rebalancing, and client portals. | enterprise | 9.2/10 | 9.5/10 | 8.4/10 | 8.7/10 |
| 3 | Envestnet Tamarac End-to-end portfolio management solution offering reporting, billing, trading, and compliance tools for advisors. | enterprise | 8.8/10 | 9.4/10 | 7.9/10 | 8.2/10 |
| 4 | Advyzon All-in-one advisor platform combining CRM, financial planning, portfolio management, and secure document storage. | specialized | 8.8/10 | 9.2/10 | 8.5/10 | 8.3/10 |
| 5 | Wealthbox CRM Modern CRM tailored for financial advisors to manage client relationships, tasks, workflows, and communications. | specialized | 8.7/10 | 8.5/10 | 9.3/10 | 8.1/10 |
| 6 | eMoney Advisor Advanced financial planning software with interactive client portals, goal planning, and household-level insights. | specialized | 8.7/10 | 9.2/10 | 8.0/10 | 8.1/10 |
| 7 | RightCapital Cloud-based financial planning tool specializing in retirement, cash flow, tax, and Social Security optimization. | specialized | 8.7/10 | 9.2/10 | 8.9/10 | 8.3/10 |
| 8 | Morningstar Office Investment research and analysis platform with portfolio tools, asset allocation, and manager ratings for advisors. | enterprise | 8.3/10 | 9.2/10 | 7.6/10 | 7.9/10 |
| 9 | Redtail CRM Feature-rich CRM for advisors with email integration, calendaring, task management, and mobile accessibility. | specialized | 8.2/10 | 8.0/10 | 8.5/10 | 8.3/10 |
| 10 | Altruist Modern custodian and software platform offering low-cost trading, portfolio management, and reporting for RIAs. | enterprise | 8.7/10 | 8.5/10 | 9.2/10 | 9.5/10 |
Comprehensive wealth platform providing portfolio management, reporting, CRM, trading, and billing for financial advisors.
Integrated wealth management platform with portfolio accounting, performance reporting, rebalancing, and client portals.
End-to-end portfolio management solution offering reporting, billing, trading, and compliance tools for advisors.
All-in-one advisor platform combining CRM, financial planning, portfolio management, and secure document storage.
Modern CRM tailored for financial advisors to manage client relationships, tasks, workflows, and communications.
Advanced financial planning software with interactive client portals, goal planning, and household-level insights.
Cloud-based financial planning tool specializing in retirement, cash flow, tax, and Social Security optimization.
Investment research and analysis platform with portfolio tools, asset allocation, and manager ratings for advisors.
Feature-rich CRM for advisors with email integration, calendaring, task management, and mobile accessibility.
Modern custodian and software platform offering low-cost trading, portfolio management, and reporting for RIAs.
Orion
enterpriseComprehensive wealth platform providing portfolio management, reporting, CRM, trading, and billing for financial advisors.
Unified householding and aggregation engine that consolidates data from disparate custodians into a single, real-time client view.
Orion Advisor Technology (orion.com) is a leading comprehensive wealth management platform tailored for financial advisors and RIAs. It provides advanced portfolio accounting, performance reporting, automated rebalancing (including tax-smart strategies), billing, CRM integrations, and a robust client portal. The software excels in data aggregation and householding across multiple custodians, enabling advisors to deliver unified household views and scalable operations.
Pros
- Exceptional customizable reporting and analytics with drill-down capabilities
- Powerful automated rebalancing and tax optimization tools
- Seamless integrations with 100+ custodians, CRMs, and third-party apps
Cons
- Asset-based pricing can be costly for firms under $100M AUM
- Steep learning curve for advanced features and customizations
- Occasional lag with very large datasets or complex households
Best For
Mid-to-large RIAs and advisory firms with $100M+ AUM seeking an enterprise-grade, all-in-one portfolio management and reporting solution.
Pricing
Asset-based model, typically 20-40 bps on AUM (tiered lower for larger portfolios); minimums apply, custom enterprise quotes available.
Black Diamond
enterpriseIntegrated wealth management platform with portfolio accounting, performance reporting, rebalancing, and client portals.
Advanced householding and composite performance reporting that aggregates and analyzes multi-account client portfolios with drill-down attribution.
Black Diamond, from SS&C Technologies (ssctech.com), is a robust enterprise-grade wealth management platform tailored for financial advisors, RIAs, and broker-dealers. It delivers comprehensive portfolio accounting, advanced performance reporting, CRM functionality, automated rebalancing, and billing tools. The platform excels in householding multiple accounts, custodian integrations, and mobile access, enabling advisors to manage client portfolios efficiently at scale.
Pros
- Comprehensive performance reporting and analytics with householding capabilities
- Seamless integrations with major custodians like Schwab, Fidelity, and Pershing
- Scalable CRM and mobile app for client engagement and on-the-go management
Cons
- Steep learning curve for new users due to its depth and customization options
- Premium pricing model that may be prohibitive for smaller firms
- Occasional reports of slower customer support response times during peak periods
Best For
Mid-to-large RIAs and wealth management firms handling complex, high-AUM client portfolios that require enterprise-level scalability and advanced reporting.
Pricing
Custom enterprise pricing typically based on assets under management (AUM) or per-account fees, starting around $10,000+ annually for smaller implementations with higher tiers for full features.
Envestnet Tamarac
enterpriseEnd-to-end portfolio management solution offering reporting, billing, trading, and compliance tools for advisors.
Household-level dynamic rebalancing with direct trading execution and tax-loss harvesting optimization
Envestnet Tamarac is a comprehensive wealth management platform tailored for financial advisors, providing integrated tools for portfolio reporting, automated rebalancing, billing, and client relationship management. It leverages data from multiple custodians to deliver performance analytics, customizable reports, and a client portal for enhanced transparency. The platform streamlines advisor workflows, supports compliance, and scales with growing advisory firms.
Pros
- Highly customizable reporting with multi-custodian data aggregation
- Advanced automated rebalancing including tax optimization
- Seamless integrations with leading CRMs and custodians
Cons
- Steep learning curve and extensive training required
- High cost structure unsuitable for small firms
- Interface feels dated compared to modern fintech alternatives
Best For
Mid-to-large registered investment advisors (RIAs) handling substantial AUM who require enterprise-grade portfolio management and reporting.
Pricing
Custom pricing based on AUM or accounts; typically starts at $10,000+ per month for mid-sized firms with tiered fees.
Advyzon
specializedAll-in-one advisor platform combining CRM, financial planning, portfolio management, and secure document storage.
White-labeled client portal and mobile app with interactive reporting and secure document sharing
Advyzon is a comprehensive cloud-based platform designed for financial advisors and RIAs, integrating CRM, portfolio accounting, performance reporting, billing, financial planning, and client portals into a single solution. It streamlines advisor workflows from client onboarding to ongoing management and compliance. The platform emphasizes white-label branding, allowing firms to present a professional, customized experience to clients via web and mobile apps.
Pros
- All-in-one integration eliminates need for multiple vendors
- Highly customizable white-label client portal and mobile app
- Robust reporting, billing, and rebalancing tools
Cons
- Pricing scales quickly for larger firms or AUM
- Steeper learning curve for advanced customizations
- Third-party integrations are solid but not as extensive as specialized tools
Best For
Mid-sized RIAs and advisory firms seeking a scalable, fully integrated platform to centralize operations and enhance client experience.
Pricing
Starts at ~$120/user/month with tiered plans based on users and AUM; custom enterprise pricing available upon request.
Wealthbox CRM
specializedModern CRM tailored for financial advisors to manage client relationships, tasks, workflows, and communications.
Seamless, bi-directional integrations with major custodians and financial apps that sync client data and opportunities in real-time
Wealthbox CRM is a modern, cloud-based platform designed specifically for financial advisors to manage client relationships, track opportunities, and streamline workflows. It offers contact management, task automation, email tracking, and a visual pipeline for deals, all accessible via web and mobile apps. The software emphasizes ease of use and seamless integrations with custodians like Schwab and Fidelity, as well as tools like DocuSign and Zoom.
Pros
- Intuitive, modern interface that's quick to learn and mobile-friendly
- Extensive integrations with 100+ financial tools and custodians
- Powerful workflow automation and customizable SmartLists for efficiency
Cons
- Pricing is on the higher end, especially for solo advisors
- Reporting and analytics are solid but not as advanced as some competitors
- Lacks built-in portfolio management or advanced compliance features
Best For
Financial advisors or small teams looking for a user-friendly CRM focused on relationship management and daily workflows without unnecessary complexity.
Pricing
Starts at $35/user/month (Basic), $55/user/month (Premier), $65/user/month (Elite), billed annually with a 14-day free trial.
eMoney Advisor
specializedAdvanced financial planning software with interactive client portals, goal planning, and household-level insights.
Cash Flow Mosaic for intuitive, interactive cash flow forecasting and visualization
eMoney Advisor is a robust financial planning platform designed for wealth advisors, offering holistic tools for goal-based planning, cash flow analysis, and account aggregation. It provides a 360-degree view of client finances through interactive visualizations, scenario modeling, and Monte Carlo simulations. The software includes a client portal (Advisor360) and mobile app to enhance client engagement and advisor efficiency.
Pros
- Comprehensive planning tools with advanced visualizations and simulations
- Strong client portal and mobile app for better engagement
- Seamless integrations with custodians and CRM systems
Cons
- Steep learning curve for new users
- High pricing that may not suit smaller firms
- Occasional performance lags with large datasets
Best For
Established financial advisors managing high-net-worth clients who need sophisticated holistic planning capabilities.
Pricing
Custom enterprise pricing, typically $5,000-$12,000 per advisor annually depending on features and user count.
RightCapital
specializedCloud-based financial planning tool specializing in retirement, cash flow, tax, and Social Security optimization.
Real-time 'What-If' scenario modeling for dynamic adjustments during live client sessions
RightCapital is a cloud-based financial planning software tailored for financial advisors, enabling the creation of comprehensive, visual retirement, tax, investment, and estate plans. It features interactive client portals for real-time collaboration, Monte Carlo simulations for risk analysis, and specialized tools like Social Security optimization and decumulation strategies. The platform emphasizes client engagement through customizable reports and scenario modeling to illustrate financial outcomes effectively.
Pros
- Intuitive, modern interface with stunning visualizations for client presentations
- Comprehensive planning modules including tax optimization and retirement decumulation
- Strong client portal fostering engagement and self-service scenario exploration
Cons
- Higher pricing compared to some competitors
- Limited native integrations with certain CRM and custodian platforms
- Steeper learning curve for advanced customization features
Best For
Financial advisors who prioritize client-facing, interactive planning tools to build trust and demonstrate value in meetings.
Pricing
Starts at $150 per advisor/month (billed annually); tiered plans up to $225+ with added features and support.
Morningstar Office
enterpriseInvestment research and analysis platform with portfolio tools, asset allocation, and manager ratings for advisors.
Portfolio X-Ray® for comprehensive, multi-layered portfolio diagnostics and risk analysis
Morningstar Office is a robust investment research and portfolio management platform tailored for financial advisors, providing access to Morningstar's extensive database of mutual funds, ETFs, stocks, and other securities. It offers advanced analytics tools like Portfolio X-Ray for dissecting client portfolios, customizable reporting, and compliance features to support informed decision-making. The software emphasizes data-driven insights, performance attribution, and client presentation capabilities to enhance advisor-client relationships.
Pros
- World-class research data and proprietary ratings on investments
- Powerful analytics including Portfolio X-Ray and scenario modeling
- Highly customizable reports and client presentation tools
Cons
- Steep learning curve for full utilization
- High cost, especially for smaller firms
- Limited built-in CRM or practice management features
Best For
Established financial advisors prioritizing deep investment research, portfolio analysis, and data-backed recommendations over comprehensive practice management.
Pricing
Subscription-based starting at around $5,000 per advisor annually, scaling up to $15,000+ based on modules, users, and assets under management.
Redtail CRM
specializedFeature-rich CRM for advisors with email integration, calendaring, task management, and mobile accessibility.
Its vast Technology Ecosystem with 100+ native integrations tailored to financial services, enabling one-click data sync across planning, trading, and custodial platforms.
Redtail CRM is a cloud-based customer relationship management platform designed specifically for financial advisors and wealth managers. It centralizes client data, tracks interactions, automates workflows, and provides tools for document management and compliance reporting. The software excels in integrating with custodians, portfolio management systems, and financial planning tools to streamline advisor operations.
Pros
- Seamless integrations with over 100 financial technology partners including custodians like Schwab and Fidelity
- Strong compliance tools for email archiving, supervision, and regulatory reporting
- Intuitive interface with mobile app for easy access on the go
Cons
- Reporting and analytics features are somewhat basic compared to enterprise CRMs
- Limited built-in marketing automation and lead nurturing capabilities
- Customization options can feel restrictive for advanced users
Best For
Financial advisors and small to mid-sized firms prioritizing compliance, industry integrations, and straightforward client management without complex setups.
Pricing
Starts at $99 per user/month for the base plan (Technology), with Pro ($150/user/month) and Enterprise tiers for advanced features; annual discounts available.
Altruist
enterpriseModern custodian and software platform offering low-cost trading, portfolio management, and reporting for RIAs.
Accessible direct indexing with low minimums and automated customization for personalized tax-efficient portfolios
Altruist is a modern custodian and integrated platform built for independent Registered Investment Advisors (RIAs), offering commission-free trading, portfolio management, rebalancing, billing, and client reporting tools. It emphasizes low costs, automation, and a streamlined user experience to help advisors scale efficiently. The platform supports direct indexing, model portfolios, and a robust client portal, positioning itself as a disruptive alternative to traditional custodians like Schwab or Fidelity.
Pros
- Commission-free trading and ultra-low custody fees reduce advisor costs significantly
- Intuitive, modern interface with seamless integration of trading, rebalancing, and reporting
- Strong client portal and automated billing streamline operations for growing firms
Cons
- Newer platform with a shorter track record compared to established custodians
- Limited third-party integrations and CRM connectivity options
- Fewer advanced tools for complex multi-asset or institutional strategies
Best For
Independent RIAs and small-to-mid-sized firms prioritizing cost savings and efficient tech over extensive legacy features.
Pricing
Custody fees tiered from 25 bps on first $100M AUM down to 10 bps; commission-free trading; no platform or ticket charges.
Conclusion
The reviewed tools present a strong lineup, with Orion emerging as the top choice for its comprehensive wealth management platform. Black Diamond and Envestnet Tamarac follow, offering integrated and end-to-end capabilities that suit different operational needs. Together, they highlight the diversity of solutions available for financial advisors seeking to streamline their practice.
Start with Orion to experience its robust portfolio management, reporting, and CRM tools—an excellent way to enhance your advisory services.
Tools Reviewed
All tools were independently evaluated for this comparison