Junxure CRM finally comes out of the workshop and into the cloud

In beta since 2012, product's goal is to lure advisers already using cloud-based Redtail and Salesforce

Jul 9, 2014 @ 11:07 am

By Joyce Hanson

The long-delayed release of Junxure Inc.'s cloud-based version of its customer relationship management system was finally announced on Wednesday. The question now is whether advisers will pay for a service already available from Redtail and Salesforce.

Junxure Cloud CRM, in beta since 2012, is now in use at approximately 50 advisory offices by 300 or so users, according to Greg Friedman, co-founder and president of Junxure.

“We wanted to get it right," Mr. Friedman said. "We went through several iterations to get to where we are, and we feel really good about it. Rather than rush to market, we chose to keep plugging.”

The cloud-based CRM offers single sign-on access to client information along with third-party integrations with financial planning, document management and portfolio management systems.

Key features of Junxure Cloud include a client communications function that tracks letters and e-mails created with templates for a consistent client experience. Also included are workflow tools and corporate memory that tracks which user is assigned a certain task.

Mr. Friedman said Junxure's team of six developers tested several models of Junxure Cloud's look and feel before they settled on a satisfactory user experience. At one point, Junxure brought in a user-experience consultant, he added.

Custodians Charles Schwab & Co. Inc., Fidelity Investments, Pershing and TD Ameritrade Institutional either have existing integrations with Junxure Cloud CRM or are rapidly developing them, Mr. Friedman said. In addition, third-party product providers are able to integrate with the CRM using Junxure's published application program interface, he said.

Bill Winterberg, founder of FPPad, a technology consulting firm for financial advisers, said many advisers are going to be pleased now that Junxure Cloud is in release.

“It's a relief that it's finally here,” he said. “Advisers who were using the desktop version can now take a serious look. I think advisers will have high expectations of Junxure Cloud because it's taken so long to come to market.”

It has stiff competition. In last year's InvestmentNews tech survey, Junxure came in second among the CRM systems used most by advisers, at 19.2%, following Redtail Technology at 39.5%. Salesforce CRM came in third with 9.8%.

Julie Cochrane, Junxure consulting and training director, was involved in adviser training throughout the Cloud CRM beta process and passed advisers' feedback on to the developers.

“The navigation in Junxure cloud is very simple,” Ms. Cochrane said. “We hear all the time about firms wanting to track workflow. They want to be efficient and keep their pulse on what's happening at the firm. Junxure Cloud does that with being able to assign tasks to different people.”

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