Practifi Reviews & Product Details

Practifi Overview

What is Practifi?

Powered by Salesforce and built for the industry, Practifi is an enterprise business management platform designed for high-performing financial advice firms. Our innovative product suite helps advisory teams integrate systems and automate processes while maximizing revenue, boosting growth and strengthening client relationships. With offices in Sydney and Chicago, and loyal clients across APAC, Europe and North America, Practifi provides the foundation and support needed to build the financial advisory firm of the future. To learn more, visit practifi.com

Practifi Details
Website
Languages Supported
English
Product Description

Practifi is the business management platform for financial services. Practifi helps wealth businesses connect with their customers, drive efficiency gains and simplify compliance. Built on the world’s leading enterprise CRM platform, Practifi revolutionises financial advice, superannuation and insurance technology.


Seller Details
Seller
Practifi
Company Website
Year Founded
2013
HQ Location
Sydney, NSW
Twitter
@Practifi
767 Twitter followers
LinkedIn® Page
www.linkedin.com
57 employees on LinkedIn®

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Practifi Reviews

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Portfolio Operations Manager
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The Practifi platform is highly customizable. Our firm is able to enter and run reports on just the information we need for our business. Review collected by and hosted on G2.com.

What do you dislike?

Since the platform allows for customizations, it's easy to go overboard on changes. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Speak to other businesses in your industry using the platform. Ask them about best practices and what they have found most helpful. Talk to your customer service team regarding other users and how they are customizing the system. USE your customer service team!! They are highly skilled and knowledgeable. The turnaround time on questions and issues is remarkably fast. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are able to use Practifi to further our marketing and business development models. We have been able to streamline processes that are customized and consistent across all of our clients. Review collected by and hosted on G2.com.

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General Manager of Operations
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Workflow and tracking client work has been the number one strength of practifi, we are able to have a file move across clients desk in an effective manner. The use of interactions and feed help for day to day client work. Review collected by and hosted on G2.com.

What do you dislike?

The negatives have been the lack of data integrations for the financial services industry including investments and insurance. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Review your current system and what you are looking for, if you are considering a good workflow and compliance CRM then PractiFi will work for you, if you need to use the CRM more for advice then PractiFi may not suit. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are solving the problem of missing client files, nothing is getting through the cracks. We can have overview as a firm Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Practifi has a fairly intuitive layout which makes navigating the software quick and easy. There seem to be many layers to each feature, which I like, since you can get more detailed and granular if the situation merits it, or leave things more basic and broad. For the most part, we have been able to fit our methods into the system or learned to use what exists in the system to fit our needs if the existing tool was a better fit. The support team and developers are awesome! Review collected by and hosted on G2.com.

What do you dislike?

With any new software or product, there are bugs and things that don't work perfectly out of the gate. It's not perfect, it doesn't do everything. There are some funky features that can require a number of clicks to view or enter something. Overall the pros outweigh the cons in my mind, but it does require some patience and understanding that it won't be perfect overnight. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Be patient. This process will take time. But it will be worth it. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are able to track client interactions in a much more robust and organized way than before. We continue to progress with customized tools to help our staff use the CRM more, and move away from old methods like keeping an excel spreadsheet, or other individual files. Review collected by and hosted on G2.com.

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Systems Manager
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The AT A GLANCE Dashboard at user & division level. The 360 View page for client. Task functionality. Easy extraction of data to csv files for analysis. Box Storage & Xplan integrations. Responsive support team. Review collected by and hosted on G2.com.

What do you dislike?

Some of the modules are under developed and need enhancing. No datafeeds. Costly customisations after implementation. Inadequate Help Guides. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

My only recommendation is to reach out to other similarly modelled finance companies that are using Practifi to get a better understanding of their user experience and understand what customisations they needed to make to suit their business processes. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Data integrity. Improved tracking of interactions with client. Better CRM user experience. Review collected by and hosted on G2.com.

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AI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Our relationship manager understands our requirements and always works in our best interest to find a useful solution. Extremely prompt with his replies and always keeps us in the loop with the progress of things. Review collected by and hosted on G2.com.

What do you dislike?

Turnaround time and lack of regular updates on some tickets even with constant following up. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Integrations with MYOB and other accounting software to allow companies to track invoices on Practifi and have a 1 stop shop.

Also integration with some telephony systems like Zoom would be extremely beneficial. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Having an automated workflow system. The reduction of heavy reliance on the team to remember the process rather than having a system guiding them through it. Review collected by and hosted on G2.com.

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Financial Advisor
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The email integration. You can automatically capture client emails without having to manually log them. Incredible time saver! Review collected by and hosted on G2.com.

What do you dislike?

Inside the meeting interaction details, there needs to be formatting options: bullet points, numerals bold, etc. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Capturing all client/prospect interactions in an efficient manner. Time saved, revenue increased, headaches reduced. Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The best part is the ease to which you can navigate the platform. It uses the engine of SF without all the confusion of navigating SF. There are easy ways to run reports and view client information. I can easily find household vs client information. Providers is another great tool within Practifi. Review collected by and hosted on G2.com.

What do you dislike?

There are limitations to how much you can customize and I wish Practifi wouldn't present these as options if it breaks the system. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Tracking client communication, task, birthdays, calendar events, asset level. Review collected by and hosted on G2.com.

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Financial Planner | Wealth Coach | Social Security Planning | 401K Benchmarking | Investment Advisor
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Our firm appreciates the flexibility in Practifi, and the ability to build out robust workflows with adjustments based on multiple outcomes. Review collected by and hosted on G2.com.

What do you dislike?

There are some challenges with Salesforce in general around email functionality and mail merges, but this is being addressed in version updates. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We have been able to integrate Orion, our portfolio management tool, into Practifi which has helped us easily sort our clients within the CRM by assets and categorize them within our service levels. Review collected by and hosted on G2.com.

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AF
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

We have a lot of shifting of client relationships here, the fact that the interactions are so well organized means that newer team members can be brought up to speed on the relationships more easily. Review collected by and hosted on G2.com.

What do you dislike?

Too much clicking to open pages. You can't export tables from anywhere except Data Management. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Transparency in communication related to clients. Tasking that's visible for burden and accountability. Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Customization that Practifi has given us. Review collected by and hosted on G2.com.

What do you dislike?

Can be very complicated. Sometimes feels overwhelming (specifically the SalesForce backend). Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Make sure you have buy in from your entire staff before doing. Can be a steep learning curve. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Relationships among clients, providers, and referalls. Review collected by and hosted on G2.com.

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AI
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Practifi is helpful to assit with bugs and enhancemnets related to salesforce

Working with Kharles and team Review collected by and hosted on G2.com.

What do you dislike?

Dont know any - they are easily reachable - no downsides Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

All salesforce bugs and enhancemnet to run my company CRM system Review collected by and hosted on G2.com.

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AF
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The functionality of it , it is not overly busy in its presentation. Review collected by and hosted on G2.com.

What do you dislike?

Sometimes it is hard to work out how to make changes - would like more specific teaching video. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

It is very practical and easy to use once you understand how it works. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Keeping track of workflow through assigning tasks to myself and others within the organisation - things are not getting missed. Review collected by and hosted on G2.com.

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AF
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Easy to use. Friendly set-up for financial services (RIA) firm, with ability to expand and customize to meet your firm's needs. Helpful and responsive relationship managers and tech support. Review collected by and hosted on G2.com.

What do you dislike?

Integrations with key platforms not fully developed. Onboarding was bumpy at first, but worked through. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Consider the onboarding and administrative requirements of implementing new softward. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Collaboration between support team and advisors. Workflows Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Organic
What do you like best?

The set up, customization, and ongoing support to help us create a solution that fits our business needs. Review collected by and hosted on G2.com.

What do you dislike?

There is nothing I dislike about Practifi. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

It has been a tool that has helped us tremendously. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are moving away from using email to complete various client service tasks. Our Practifi support person helped us create tasks and processes that allows us to capture everything in one place. It has helped us become much more structured and organized in our client service delivery. Review collected by and hosted on G2.com.

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Chief Operating Officer
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Organic
What do you like best?

Give the relatively accessible price point I found the onboarding process and project management both useful and valuable. Provided me a far better experience than other systems I have attempted to implement in the past. Review collected by and hosted on G2.com.

What do you dislike?

Whilst not a significant issue, I had not previously used project management software so running the implementation through Asana was probably overkill for me. It did not however diminish the quality of the Practifi team and their high levels of engagement and patience. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Consider as an alternative to Salesforce Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Centralised system for clients, compliance, processing and general business management. Review collected by and hosted on G2.com.

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UF
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

fully customizable, very robust features Review collected by and hosted on G2.com.

What do you dislike?

not as intuitive as I would like it to be Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

assigning daily tasks to teammates...others held accountable and have a daily list of what is to be accomplished Review collected by and hosted on G2.com.

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UF
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

The support I received went above and beyond to find a solution to my issue. When several email exchanges did not work, they promptly initiated a zoom meeting and were able to get me squared away fairly quickly. The thing I liked best was the personal attention to my case and the knowledge, skill and capabilities of the tech support specialist. Review collected by and hosted on G2.com.

What do you dislike?

I did not dislike a single thing - they were awesome! Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Stick with it, ask questions, do the training and watch the tutorials! Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Overall awareness of clients accounts and how to properly categorize and track interactions and assets. The benefits realized is organization and excellence! The ability to update client accounts improves productivity within our team as well. Review collected by and hosted on G2.com.

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IF
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

I think it is a solid CRM / built as a complete overlay on top of Salesforce that enhances everything that a team in the financial services industry needs. With room to grow, PractiFi is delivering a great product and emphasizes customization and partnership. Each release is more robust and geared to help RIA's in the US grow and organize their pipeline. Review collected by and hosted on G2.com.

What do you dislike?

the system is still a little green but moving forward Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

we are working on reporting and workflows Review collected by and hosted on G2.com.

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President
Financial Services
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

We can build processes that help us scale our business Review collected by and hosted on G2.com.

What do you dislike?

Not much to speak or. It could speed up a bit. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Better workflows and tracking of tasks. Review collected by and hosted on G2.com.

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