Jason talks to Adrian Johnstone, Co-founder, and President of Practifi. Practifi is an advisor centric CRM that was developed on the Salesforce platform but is not Salesforce itself and has made a name for itself in terms of leveraging the advantage to build better automation workflows and tools for advisors.
Episode Highlights
- 0.44: Adrian explains that they use the term performance optimization platform in Practifi. They use salesforce as the chassis, but they are actually a product sitting on top and none of the nasty overlay stuff.
- 6.07: Adrian explains that their system is designed to provide the answers to questions you are not yet thinking like, who do I need to call, what do I need to call them about, what might I have missed from a compliance perspective and serve that information up to the right person at the right time.
- 9.20: Adrian told someone that they need to do something along the way is one thing, but what they have done is embed things like the data capture and data transfer within the workflow itself.
- 13.44: Many people don't realize that Salesforce and Microsoft are in pretty much every business where Salesforce exists, but they don't necessarily play great together on their own.
- 17.19: Adrian shares how they have built very specific integrations at an industry level, and they will continue to do that as well.
- 19.20: Adrian says that they also see newer firms coming into the market who look at integrating the Salesforce and what they find is that they are going to integrate to something that they know everyone has customized because there are a very few standard Salesforce instances out there.
- 21.58: Anyone who's going to really exercise the technology, then we are a great solution because you don't lose any of the flexibility. You just gain such a strong starting position, says Adrian.
3 Key Points
- Practifi is designed to cater for a multifamily office with complex relationship trees, many to many kinds of structures within there, as well as managing all of your other relationships.
- Adrian explains how they got away from standard stuff available on salesforce and built what Practifi Propel, which is an entire analytics suite and gives users the comprehensive time series data that one can really look at across the business.
- Adrian shares how he wants to create a more unified experience between the Salesforce and Microsoft Stacks because they know the Office 365 world is ubiquitous and they want to make that as seamless as possible.
Tweetable Quotes
- "Having something purposely built versus generic from day one is a big advantage for anyone starting off from day one." - Jason
- "Practifi is not trying to be the solution to the retail banker. It's a solution to the wealth to the financial intermediaries." – Adrian
- "As the underlying platform changes, you are forced into reinvesting in building because it doesn't stand still and so you can't." – Adrian
Resources Mentioned
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