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Meet the New Age Financial Advisor – Salesforce Financial Service Cloud

CRM,Financial advisors,Financial Service Cloud - posted by Soumini Vidyasagar

All this while, when you think of the term ‘financial advisor’, you get this picture of a man in his mid-50s carrying a briefcase with files and papers of client details, notepads and pens. A major percentage of their time is spent in referring through papers for client history, taking down points and making notes before preparing for the client meeting. The world is changing with the rapid changes in technology; and the need of the hour is to revolutionize financial services.

With an estimated $2 trillion expected to be transferred between generations in the next 5 years (according to The ‘Greater’ Wealth Transfer Report by Accenture, 2012) advisors need to meet the demands of today’s clients. This new generation of investors is more social, mobile, better informed and do not want to work with the old school financial advisors. The clients today want to get in touch with their advisors whenever and wherever they want to. According to PwC Rebooting Wealth Management, 2015; more than 50% of the customers say that their advisors don’t have the technology to meet their needs.

To combat this challenge faced by financial advisors, Salesforce has launched the Financial Services Cloud; which will help  in providing better client engagement. This industry-based cloud focuses on adopting core CRM principles at the same time managing wealth. Let’s see how:

Financial advisors feel burdened by the tedious manual procedures in aggregating information. Salesforce Financial Services Cloud ensures higher level of client engagement and wealth management. On the cloud, advisors can get a snapshot of the info-rich client profiles, financial soundness, life goals and family relationships; thus providing a holistic client approach.

  • The Financial Services Cloud has created a dynamic user experience inspired by the client’s world. Additional profiles can be created in the same client’s page for their household relationships. To build trust among the present and future generations, it’s critical to understand these relationships. It is also important to have knowledge about the client’s goals. If your client is planning a retirement or buying a house or even creating a new trust; you can collaborate with the best minds from your advisory team and offer the best advice. All this on one page!
  • The Advisor homepage offers you a graph of your company’s performance, proactive alerts for the tasks that need your attention (whether delegated or personal). It also provides a prioritized To-Do list compiled from the calendar, tasks & opportunities.
  • With the Financial Services Cloud, you can break down the silos in your firm and focus on all the activities around the rich client profile. You and your whole advisory team can even connect directly with the clients using the Salesforce Private Client Community, from any device. By using the Salesforce1 app, you can carry all your important information, review your client’s data sheets, and receive alerts about any assigned tasks or meetings; on the go.

Beyond being an information aggregator, Salesforce Financial Services Cloud brings everything into context, puts the client at the center of everything, and gives you the information you need to make smart decisions and offer collaborative advice and solutions. You can spend more time helping clients – and less on administrative tasks.

To understand more about this industry-wide product, do drop a comment below or contact us.





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