CRMs are everywhere, but only a few actually work for financial advisors. Gabe Karkanis on how Maximizer is one of them
This article was produced in partnership with Maximizer.
Building a book of business. Dealing with inflexible CRMs. Managing compliance through manual processes.
These are common challenges for financial advisors, and Gabe Karkanis is familiar with all of them.
Karkanis spent years building a book of over 200 clients as a financial advisor. He remembers pounding the phones, keeping track of client records in a patchwork of tools, and entering notes late into the evening. “It’s no wonder so many firms feel like they’re drowning in systems instead of supported by them,” he says.
Alongside that frontline experience, he brings a strong background in technology - having studied computer science, launched a B2B SaaS business, which he ran for seven years, and worked closely with software development teams.
That combination now drives his work as Senior Director of Product at Maximizer, where he’s focused on building CRM tools that reflect how advisors actually operate: practical, integrated, and relationship-focused.
From contact database to core operating system
Karkanis is quick to point out that CRM has evolved far beyond being a glorified digital Rolodex.
But in wealth management, legacy expectations often lag behind what modern client relationships demand.
“Too many people still think of CRM as just a contact list,” Karkanis says. “But what sets a purpose-built CRM apart isn’t just functionality. It’s relevance.”
In contrast to general-purpose platforms, wealth management CRMs are designed to capture the full scope of a client’s financial life. That includes investment accounts and holdings, compliance documentation, household relationships, and every touchpoint with the firm - all housed in a unified platform.
“In many of the general-purpose CRMs, firms have to change their processes to fit the software. That’s backwards,” he says. “You should be able to mold the CRM to your firm, not the other way around.”
That level of adaptability, he adds, is particularly vital in financial services.
With regulatory scrutiny on the rise and data governance a board-level concern, financial firms are under pressure to ensure accurate, timely, and secure client documentation. Maximizer is working to ease that burden.
“One major thing we’re rolling out is integration with modern meeting platforms like Microsoft Teams and more, even AI transcription tools,” Karkanis says. “Imagine finishing a call and having the transcript automatically linked to the client record in the CRM. That kind of automation saves time and ensures compliance, especially when regulators come asking for records five years down the line.”
This kind of automation also supports required documentation like Know Your Client (KYC) forms, signed agreements, and compliance correspondence.
AI that thinks like an assistant, not an algorithm
Karkanis is clear-eyed about the risks that come with leaning too heavily on automation, particularly in a profession where trust is paramount.
He offers a cautionary tale, “We heard about a firm that sent out AI-generated prospecting emails. One email said, ‘Great job presenting at the conference last week’ - except the client wasn’t a speaker. They just attended. That relationship was over before it started,” he says.
Rather than chasing full automation, Maximizer is focused on building tools that act more like intelligent assistants.
“We’re not trying to replace the advisor’s judgment. We’re trying to give them back time and make them sharper when it counts,” Karkanis explains.
An example is their forthcoming Timeline 360 tool, which surfaces a summary of key details, such as anniversaries, maturing investments, household changes, right before a meeting. The aim is not to dazzle with AI, but to quietly equip the advisor with exactly what they need to make each interaction more meaningful.
Karkanis recalls his time as an advisor, where the CRM served as the focal point for biweekly meetings. “We’d review custom dashboards that showed pipeline activity, renewals, expansion opportunities. Everyone had the same information and we could align quickly,” he says.
What comes next: Security, scale, and specialized design
The roadmap ahead reflects two clear priorities: tighter integration with the financial services ecosystem and a disciplined use of AI.
On the integration front, Maximizer is expanding connections to back-end custodians and data aggregators, making it easier for advisors to view client holdings, insurance policies, or transaction histories without toggling between platforms. This effort supports a larger vision of CRM as the command center, drawing in just enough data to inform decision-making, without becoming overloaded or redundant.
On the AI side, development is focused on specific use cases: surfacing anomalies in data, accelerating prep for meetings, and supporting personalization at scale. But the firm is taking a cautious approach, with all generative tools hosted securely in Canada and no client data routed through third-party AI vendors.
The dangers of using public AI platforms without proper guardrails are very real. Karkanis points to recent incidents where proprietary company data was leaked by employees using open tools like ChatGPT. “It takes technical expertise to set these systems up properly. Firms need to understand that,” he details. “It’s not just about what the tool can do. It’s about where the data goes, who has access, and whether you’re actually protecting your clients.”
Advisors are reasserting that this profession has never been about numbers alone. At its core, it is a relationship business; one built on trust, long-term thinking, and a deep understanding of each client’s life.
A purpose-built CRM becomes central to that mission. When implemented effectively, it doesn’t just reduce administrative drag or improve reporting. It becomes the connective tissue of the firm.
