Financial Services Cloud: Platform for High-Touch … Financial Services on the Platform for...

Financial Services Cloud:Platform for High-Touch ClientRelationships

Salesforce, Summer ’18

@salesforcedocsLast updated: June 20, 2018

https://twitter.com/salesforcedocs

© Copyright 2000–2018 salesforce.com, inc. All rights reserved. Salesforce is a registered trademark of salesforce.com, inc.,as are other names and marks. Other marks appearing herein may be trademarks of their respective owners.

CONTENTS

Welcome to Financial Services Cloud . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

Deliver Financial Services on the Platform for High-Touch Client Relationships . . . . . . . . . . . . . . 1Key Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Set Up Clients, Households, and Relationships . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Enter Financial Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Create a Wallet Share Opportunity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17Create a Lead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17Convert a Lead to a Client . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17Create a Case from Financial Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17Work with Client Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

WELCOME TO FINANCIAL SERVICES CLOUD

EDITIONS

Available in LightningExperience for an extra costin: Professional, Enterprise,and Unlimited Editions

Welcome to Financial Services Cloud, the platform for high-touch client relationship management.

Deliver Financial Services on the Platform for High-Touch Client Relationships

Financial Services Cloud is a reimagined front-office. Get a clean, aggregated view of the mostrelevant, actionable client information without logging in to a dozen systems throughout theday. Accelerate your productivity with technology and digital workflows that reduce the timeyou spend on routine, administrative tasks. Focus instead on delivering the highly personalized,proactive service that your clients expect.

Key Terms

Certain terms can have multiple meanings within a financial services context. It’s important to clarify what we mean when youencounter terms like account or client in our app.

Set Up Clients, Households, and Relationships

Create records for clients, households, and their extended network of relationships so that you maintain a rich, holistic view of yourbook of business.

Enter Financial Data

Create records for clients’ financial accounts and their underlying holdings, assets, liabilities, and financial goals.

Create a Wallet Share Opportunity

Create an opportunity record related to a financial account to track wallet share opportunities.

Create a Lead

Create a lead record to track a prospect.

Convert a Lead to a Client

Convert a lead record to a client record.

Create a Case from Financial Accounts

Create a case for a client’s financial account so you can see the related case from the financial account’s page or the client’s profilepage.

Work with Client Data

Track the specifics of your client interactions so that you develop a rich history to draw on for building relationships.

Deliver Financial Services on the Platform for High-Touch ClientRelationships

EDITIONS


Financial Services Cloud is a reimagined front-office. Get a clean, aggregated view of the mostrelevant, actionable client information without logging in to a dozen systems throughout the day.Accelerate your productivity with technology and digital workflows that reduce the time you spendon routine, administrative tasks. Focus instead on delivering the highly personalized, proactiveservice that your clients expect.

Get started with the basics of managing your client book for deeper engagement and more profitableclient-advisor relationships.

1

A New Way of Working—in Lightning Experience

Financial Services Cloud features are available exclusively in Lightning Experience. It’s different from Salesforce Classic, because itresponds to the way you work and gives you deeper context into what’s going on with your clients.

Home Helps You Take Charge of Your Day

The Home page gives you instant access to the most pressing items on your to-do list. What are your priorities today? What’s next?What’s left to do? The Assistant prepares you for the most productive day possible, with proactive alerts about newly assigned leadsand opportunities requiring attention.

Browse Your Client and Household List Views

Browse the Clients and Households list views to quickly navigate to client and household profiles. View filtered lists of clients andhouseholds, based on similar interests or financial characteristics.

Client and Household Profiles

Profiles give you a rich, holistic picture of a client’s or household’s financial past, present, and future. In a single view, monitor financialaccounts, visualize personal and household relationships, manage goals, and review activity history.

Monitor Your Book of Business with Dashboards

Dashboards help you see at-a-glance your engagement with existing clients and potential to bring in more business.

Einstein Analytics for Financial Services Cloud

The Einstein Analytics for Financial Services Cloud app gives you embedded Financial Services Cloud dashboards in Financial ServicesCloud. Through dashboards of configurable client data and custom charts, you can gain new insight about your book of business.

What Client Data Can I See?

The Salesforce security and sharing model ensures flexibility and the appropriate levels of access to client data. Ask your administratorfor details about how data visibility is defined for your advisory teams.

A New Way of Working—in Lightning Experience

EDITIONS


Financial Services Cloud features are available exclusively in Lightning Experience. It’s different fromSalesforce Classic, because it responds to the way you work and gives you deeper context intowhat’s going on with your clients.

Tip: If you’re new to Lightning Experience, get oriented quickly by searching for the helptopic, Find Your Way Around Lightning Experience.

Home Helps You Take Charge of Your Day

EDITIONS


The Home page gives you instant access to the most pressing items on your to-do list. What areyour priorities today? What’s next? What’s left to do? The Assistant prepares you for the mostproductive day possible, with proactive alerts about newly assigned leads and opportunities requiringattention.

2

A New Way of Working—in Lightning ExperienceWelcome to Financial Services Cloud

• The dashboard (1) shows how opportunities look for the quarter.

• The Assistant (2) helps you be proactive with alerts about leads assigned to you today, and opportunities requiring attention.

• The Tasks component shows upcoming tasks. Mark them complete right on the page. As long as you remain on the page, you canalways reopen completed tasks. Refreshing the page removes completed tasks from view.

• Today’s Events shows the next five items on your calendar today. Past events drop off as the day progresses.

• Birthdays lists the clients celebrating birthdays in the next seven days.

• Upcoming RMDs lists the clients who will be 70 years and 6 months in 90 days and must take required minimum distributions (RMD).The RMD age can’t be configured. For privacy, only the client record’s owner can see if the client is approaching the RMD age.

• Opportunities and Leads components help you track ways to deepen and grow your book of business.

Browse Your Client and Household List Views

EDITIONS


Browse the Clients and Households list views to quickly navigate to client and household profiles.View filtered lists of clients and households, based on similar interests or financial characteristics.

These list views display the clients and prospects and households that you work with.

• See which list views your administrator has made available by selecting the list view name atthe top of the page.

Tip: The My Clients and My Groups list views are a good starting point, as they show allthe clients and households in your book of business. These list views display from theAccounts tab.

• To sort, click any column header.

• Change the filter criteria to dynamically update your view of My Clients or My Groups, segmenting clients by criteria such as marketingsegments, age, or birthdays.

1. To expand the list of criteria you can filter by, select the Filters icon.

2. For each filter that you want to change, select the filter, edit the criteria, and then select Done.

Important: If you’re filtering by a currency value, specify a currency ISO code—such as USD or GBP—before the value.For example, GBP100000. The ISO code must be one of your firm’s active currencies.

3

Browse Your Client and Household List ViewsWelcome to Financial Services Cloud

3. Select Apply.The list view refreshes with your updated filter criteria.

For now, you can’t save your changes to a list view that you’ve edited.

• View up to 25 records per page, and a maximum of approximately 2,000 items per list view.

If you can't access some items because the list view contains more items than the maximum, narrow your filter criteria so that moreitems are accessible.

Client and Household Profiles

EDITIONS


Profiles give you a rich, holistic picture of a client’s or household’s financial past, present, and future.In a single view, monitor financial accounts, visualize personal and household relationships, managegoals, and review activity history.

Highlights panelSee the last and next scheduled interaction at a glance.

Details tabQuickly access details, without having to leave the profile page. Tabs on the profile pages offersimilar views, with slight differences between the client and household profiles. For clients,view summaries of Know Your Client information, employment, and contact information. For households, view high-level summariesof total financial assets. To edit Details information, use the Edit button in the highlights panel.

Financials tabTrack financial accounts by the predefined categories of investment accounts, bank accounts, and insurance policies. Also trackassets and liabilities.

Relationships tabManage the network of relationships involving the individuals in a household. Add new household members. Add people fromoutside of the household as Related Contacts. For households, you can add other households or business entities as Related Accounts.You can edit or delete associated contacts and accounts.

Goals tabTrack what matters to your clients for goals-based planning.

Related tabSee comprehensive summaries of financial accounts, tangible assets, liabilities, and related lists such as opportunities, cases, andnotes and attachments. This view can be handy for onboarding when you want to quickly enter a series of financial accounts, goals,opportunities, and relationships.

ComposerCreate tasks and events, and log client communications. Use the Chatter feed to share information and collaborate with other teammembers who manage the client relationship.

It’s possible that your fields, field names, and field order differ from what you see here. Don’t worry about that. It was just your administratorwho customized them. The layout of sections within profile pages can’t be changed.

4

Client and Household ProfilesWelcome to Financial Services Cloud

Monitor Your Book of Business with Dashboards

EDITIONS


Dashboards help you see at-a-glance your engagement with existing clients and potential to bringin more business.

1. In the navigation menu, go to the Dashboards list view.

2. Look for My Book of Business dashboards in the Public Dashboards folder.

• My Book of Business - Overview—Manage your existing book of business with insightsabout AUM, wallet share, held-away assets, and financial account totals by client.

• My Book of Business - Engagement Opportunities—Deepen client relationships by trackingupcoming client reviews, birthdays, and other relationship touchpoints.

• My Book of Business - Sales & Opportunities—Grow your book of business by identifying new AUM opportunities and focusingyour sales process on hitting targets.

3. Select a dashboard of interest. Select Refresh to get the latest data.

Einstein Analytics for Financial Services Cloud

EDITIONS

Available in: Enterprise andUnlimited Editions

The Einstein Analytics for Financial Services Cloud app gives you embedded Financial Services Clouddashboards in Financial Services Cloud. Through dashboards of configurable client data and customcharts, you can gain new insight about your book of business.

From the navigation bar, click Advisor Analytics.

Einstein Analytics for Financial Services Cloud includes multiple embedded dashboards, each with a different focus on your book ofbusiness.

• Client List: Get a focused list of clients with robust filtering capabilities that surface financial data points and account details acrossan advisor’s entire book of business.

5

Monitor Your Book of Business with DashboardsWelcome to Financial Services Cloud

• 80/20: Maximize your time by comparing client revenue against advising activities and identify key actions to apply to high-potentialclients.

• Activities: Analyze interactions in context to different activity types to see how they are impacting your client relationships. Identifygaps and opportunities to improve future engagement.

• Financial Accounts: Respond to market conditions in a timely manner by uncovering the types of financial accounts and securitiesthat make up an advisor’s book of business.

• Client Goals: Measure client goals across an advisor’s entire book of business, spot key trends and create tasks or opportunities incontext to client data so advisors can help keep clients on track.

What Client Data Can I See?The Salesforce security and sharing model ensures flexibility and the appropriate levels of access to client data. Ask your administratorfor details about how data visibility is defined for your advisory teams.

Key Terms

EDITIONS


Certain terms can have multiple meanings within a financial services context. It’s important to clarifywhat we mean when you encounter terms like account or client in our app.

AccountA business account, such as a vendor or company that does business with consumers or othercompanies. Not to be confused with a financial account. In Financial Services Cloud, accountsometimes also refers to a household entity or even an individual client.

AssetA tangible asset that is not represented in financial account records, such as real estate orcollectibles. If your firm doesn’t use an asset aggregation service to track held-away financial accounts, assets also offer a simple wayto account for held-away financial accounts.

ClientAny individual who does business with your firm—in the past, present, or future. Prospects are clients, too. When you see referencesto an individual within the app, we mean a person who’s a client. You see client and individual used interchangeably.

Financial accountAn investment account, bank account, insurance policy, or other type of financial account. In some financial services applications,financial accounts are the central unit of organization. Other applications treat clients or family groups as the central unit. FinancialServices Cloud fits in this latter category with a client-centric design.

Household

A type of relationship group that includes people and business entities who have direct relationships with one another and whosefinancials are summarized at the household level. Salesforce doesn’t track directly how individuals within a household are related.Their relationship is based on their relationships with the same household and by their roles within that household (client, spouse,dependent, and so on).

People associated with the household but outside of it are related contacts, such as lawyers, accountants, or tax planners. Organizationalentities associated with the household but don’t roll up any financials to the household are related accounts, such as related businessesor related households.

In client and household profiles, household (relationship group) members appear together and are clearly separate from otherassociated entities, who are also known as extended relationships.

6

What Client Data Can I See?Welcome to Financial Services Cloud

IndividualA person who is a client.

LiabilityA debt owed, such as a mortgage or loan.

Set Up Clients, Households, and Relationships

EDITIONS


Create records for clients, households, and their extended network of relationships so that youmaintain a rich, holistic view of your book of business.

Individual Client or Prospect Creation

Financial Services Cloud gives you two ways to create individual clients or prospects.

Create a Household

Track groups of individual clients and business entities who have direct relationships with oneanother and shared financials.

Create a Relationship Group

Use a relationship group to create, maintain, and visualize client and group relationships in Financial Services Cloud. For instance, ahousehold is a type of relationship group.

Add Household Members and Relationships

Add members to a household, and relate business entities and other people to the household members. Define how to summarizethe members’ activity and financials at the household level.

Add an Extended Relationship to a Client or Household

Better visualize clients’ relationships with people outside of their household. Track the other professionals who advise clients abouttheir financial lives. Also track clients’ affiliations with owned businesses and other organizational entities.

Individual Client or Prospect Creation

EDITIONS


Financial Services Cloud gives you two ways to create individual clients or prospects.

Create a Client or Prospect

When you want to track engagement with a new individual client or prospect, create anindividual.

Create a Client or Prospect with the Client Profile Builder

When you want to track engagement with a new individual client or prospect, create anindividual and add that individual to a relationship group.

7

Set Up Clients, Households, and RelationshipsWelcome to Financial Services Cloud

Create a Client or Prospect

EDITIONS


When you want to track engagement with a new individual client or prospect, create an individual.

1. From a clients list view, select New.

2. Select Individual.

3. In Account Name, enter the client’s name.

4. Select a status.

• For a confirmed client, select Active.

• For a prospect, select Prospect.

• For a client that you’re onboarding, select Onboarding.

5. After you enter other relevant information, save the record.

Clients can’t be deleted.

SEE ALSO:

The Individual Model

Create a Client or Prospect with the Client Profile Builder

EDITIONS


When you want to track engagement with a new individual client or prospect, create an individualand add that individual to a relationship group.

Complete this information about the individual.

• Account details

• Contact details

• Relationship group details (optional)

1. Click Home.

2. From the Create Individual section, click New.

3. In Account Name, enter the individual’s name.

4. Select a status.

• For a confirmed client, select Active.

• For a prospect, select Prospect.

• For a client that you’re onboarding, select Onboarding.

5. Optionally, enter the remaining account details and then click Save & Next.

6. Optionally, enter the contact details and then click one of the following:

• To finish creating the individual, click Save.

8

Individual Client or Prospect CreationWelcome to Financial Services Cloud

https://help.salesforce.com/apex/HTViewHelpDoc?id=fsc_admin_data_model_individual_client.htm&language=en_US#fsc_admin_data_model_individual_client

• To add the individual to a relationship group, click Save & Next and continue with the following steps.

7. Select the member’s role.

• If the member is the primary household member, select Client. You can select more than one role.

• If the member is not the primary household member, select the member’s role relative to the primary household member’s role,such as Dependent or Spouse.

8. If you want to roll up activities and objects for this member, select Primary Group.

• Roll-up items are summarized at the household level for all members who have this household as their primary group.

• Designating a household as a primary group for a member lets you add the member’s related business to the household. As amember of the household, the related business’s activities and objects are also summarized at the household level.

9. If you enabled this household as a primary group, select which activities and objects, such as financial accounts or financial goals,to roll up when summarizing data at the household level.

Note: You can select more than one item for this individual.

10. To designate this individual as the primary household member, select Primary Member.

Designating a primary member is not required, but a household can have only one primary member.

11. Save your changes.

SEE ALSO:


Create a Household

EDITIONS


Track groups of individual clients and business entities who have direct relationships with oneanother and shared financials.

Note: A household is a type of relationship group.

1. From an accounts list view, select New.

2. Select Household.

3. In Account Name, enter the household name (for example, Claire Johnson Household). Leavethe other fields empty because they are automatically calculated or don’t yet apply.

4. Save the record.

Households can’t be deleted or made inactive.

5. On the Relationships tab, do one of the following:

• From the relationship map, on the household component, click Edit Group.

• From the Group Members section, click Edit.

The next part of creating a household is adding group members and relationships. You can add members only through the Relationshipstab on the group profile.

SEE ALSO:


9

Create a HouseholdWelcome to Financial Services Cloud


EDITIONS


Use a relationship group to create, maintain, and visualize client and group relationships in FinancialServices Cloud. For instance, a household is a type of relationship group.

Note: You can’t delete or make a group inactive.

1. From an individual client or business account profile, click the Relationships tab.

2. Do one of the following.

• From the relationship map, click + Add Group.

• In the Primary Group section, click New.

Note: If the client already has a primary group, it appears as the section name. You can edit the primary group. A clientcan have only one primary group.

• In the Relationships Group section, click New.

3. For Account Name, enter the household name (Example: Claire Johnson Household). Leave all other fields empty.

4. Click Save & Next.

The next part of creating a relationship group is adding group members and relationships. You can add members only through theRelationships tab on the group profile.

SEE ALSO:



EDITIONS


Add members to a household, and relate business entities and other people to the householdmembers. Define how to summarize the members’ activity and financials at the household level.

Note: If you can’t add a client to more than one household, ask your Salesforce admin toenable the multiple relationship groups custom setting.

1. Do one of the following.

• Create a Household

• Create a Relationship Group

2. For Member Name, enter an existing individual client’s name or select + New Contact.

10

Create a Relationship GroupWelcome to Financial Services Cloud

For a new contact, do the following.

a. Select the Individual record type. Then click Next.

b. Enter the contact’s last name and other optional information.

c. Save the contact record.

3. Select the member’s role.

• If the member is the primary household member, select Client. You can select more than one role for each member.

• If the member is not the primary household member, select the member’s role relative to the primary household member’s role,such as Dependent or Spouse.

4. If you want to roll up activities and objects for this member, select Primary Group.

• Roll-up items are summarized at the household level for all members who have this household as their primary group.

• Designating a household as a primary group for a member lets you add the member’s related business to the household. As amember of the household, the related business’s activities and objects are also summarized at the household level.

• You can add a business to only one primary group.

5. If you enabled this household as a primary group for the member, select which activities and objects, such as financial accounts orfinancial goals, to roll up when summarizing data at the household level.

Note: You can select more than one item for each member.

6. To designate this individual as the primary household member, select Primary Member.

Designating a primary member is not required, but a household can have only one primary member.

7. To add another member to the household, click + Add Row and enter the required information.

11

Add Household Members and RelationshipsWelcome to Financial Services Cloud

8. To relate a member’s business entity to the household, do the following.

a. From the section of relationships with other accounts, under Related Member, enter a household member.

b. Select the role that describes how the member is associated with the related business entity.

c. Enter the member’s related business entity.

d. If you want the business entity to be a member of the household, and the business’s activities and objects summarized at thehousehold level, select Add to Group.

Note: To add this business entity to the household, the household must be the primary group for the related member.

e. To relate another business entity to the household, click + Add Row and complete the information.

9. To relate a member to another person, do the following.

a. From the section of relationships with other people, under Related Member, enter a household member.

b. Select the related role that describes how the contact is associated with the related member.

c. Enter the member’s related contact.

d. To relate another person to a household member, click + Add Row and complete the information.

Add an Extended Relationship to a Client or Household

EDITIONS


Better visualize clients’ relationships with people outside of their household. Track the otherprofessionals who advise clients about their financial lives. Also track clients’ affiliations with ownedbusinesses and other organizational entities.

Relate a Contact to a Client or Household

Add a lawyer, accountant, or other professional as a related contact. First, create a businessaccount for the contact (because every contact belongs to an account in Salesforce). Thenassociate the contact with a client or household.

Relate an Account or Another Household to a Household

Add an account that is associated with a household to track the household’s relationships with other entities, such as a business, atrust, or another household.

Relate a Contact to a Client or Household

EDITIONS


Add a lawyer, accountant, or other professional as a related contact. First, create a business accountfor the contact (because every contact belongs to an account in Salesforce). Then associate thecontact with a client or household.

1. In the navigation menu, go to Accounts and select New. Create an account record.If you’re adding a lawyer as the related contact, create an account record for the law firm.

2. From the Relationships tab of the client or household profile, do one of the following.

• From the relationship map, click + Add Contact.

• In the Related Contacts section, click New.

3. For Contact, verify the name of the household member that the contact is associated with.

The contact must be associated with a specific member—not with the household in general.

12

Add an Extended Relationship to a Client or HouseholdWelcome to Financial Services Cloud

4. Click the Related Contact field. Select either an existing contact or New Contact. If it’s a new contact, do the following.

a. Select the Business record type, because you’re adding a business contact. Click Next.

b. Enter the contact’s last name, and select the account name that you created in the first step.

c. Save the contact record.

5. For Related Role, select the role that describes how the contact is associated with the client.

6. Save the related contact record.

The related contact appears on both the client and household profiles. The contact’s record detail page also shows the entities that thecontact has relationships with.

Relate an Account or Another Household to a Household

EDITIONS


Add an account that is associated with a household to track the household’s relationships withother entities, such as a business, a trust, or another household.

You can associate an account entity only with a household entity—not with an individual client.To track a client’s relationship with an organizational entity, we recommend associating the accountwith the household.

1. On the Relationships tab of the household profile, do one of the following.

• From the relationship map, click + Add Account.

• In the Related Accounts section, click New.

2. For Account, verify the name of the household that the account is associated with.

3. Click the Related Account field, and select an existing account or New Account. Do the following for a new account.

a. If the related account is another household, select the Household record type. If the related account is a business or organizationalentity, select the Business record type. Then click Next.

b. Enter the account’s name and other optional information.

c. Save the account record.

4. For Related Role, select the role that describes how the account is associated with the household.

5. Save the related account record.

The related account appears on the household profile. The account’s record detail page also shows the entities that the account hasrelationships with.

Enter Financial Data

EDITIONS


Create records for clients’ financial accounts and their underlying holdings, assets, liabilities, andfinancial goals.

Add a Financial Account

Enter information about an investment account, bank account, or insurance policy. While thisdata is typically updated automatically from external systems, here’s how to enter a financialaccount manually.

13

Enter Financial DataWelcome to Financial Services Cloud

View Holdings Within an Investment Account

Expand the view of an investment account to see its underlying holdings.

Add Holdings to an Investment Account

Enter purchase history and details about financial holdings in an investment account.

Create Securities Records

Enter information about securities, such as stocks or bonds. While this data is typically updated automatically from external systems,here’s how to enter a securities record manually.

Add an Asset or Liability

Enter information about tangible assets—such as real estate or collectibles—or liabilities—such as mortgages or loans.

Add a Financial Goal

Create a financial goal to track clients’ progress toward major purchases, retirement savings, or other life goals.

Add a Financial Account Role

Enter information about a client’s involvement with a financial account, such as an individual who is a beneficiary or trustee.

Add a Financial Account

EDITIONS


Enter information about an investment account, bank account, or insurance policy. While this datais typically updated automatically from external systems, here’s how to enter a financial accountmanually.

1. On the Financials tab of the client or household profile, select New in the appropriate financialaccounts section.

2. Enter relevant details.

The Primary Owner can be a household member or an organizational entity—it can’t be thehousehold itself.

For investment accounts, if it’s one that your firm manages or administers, select Managed. If it’s one of your in-house products,leave Held Away unselected.

3. Save the record.

If you created the financial account from the client profile, and if the client’s financial account information is summarized at thehousehold level, the newly created account is also visible in the household profile. If a financial account is jointly owned by multipleindividuals, the full balance is displayed in each individual’s profile.

If some or all individuals belong to the same household, and if financial accounts are included in that household’s roll-up summariesfor the primary owner, then the balance is counted only once in the summary calculation.

If an individual client and an organizational entity jointly own a financial account, the primary ownership determines whether theaccount balance is included in roll-up summaries.

• If the primary owner is the individual client, the balance is included in the client’s household roll-up summary.

• If the primary owner is the organizational entity, the balance is excluded from the client’s household roll-up summary.

You can edit or delete a financial account from the Financials tab or the Related tab. You can also create a wallet share opportunity that’sassociated with a financial account. Select the actions icon next to the financial account name.

SEE ALSO:


14

Add a Financial AccountWelcome to Financial Services Cloud


EDITIONS


USER PERMISSIONS

To view holdings:• “Advisor” permissions

Expand the view of an investment account to see its underlying holdings.

1. On the Financials tab of the client or household profile, look for an arrow icon next to theinvestment account name.

If there’s no icon, holdings information isn’t available.

2. To expand the list of holdings within the investment account, select the icon.

SEE ALSO:



EDITIONS


Enter purchase history and details about financial holdings in an investment account.

When you add a holding, you can select from existing securities records only. If the securities recorddoesn’t exist yet, create it first.

1. On the Related tab of the client or household profile, select New in the Financial Holdingssection.

2. Enter a name, such as Salesforce shares.

3. Select the ticker symbol.

4. Select the financial account (investment account) for this holding.

5. Enter purchase details.

6. Save the record.

SEE ALSO:




EDITIONS


Enter information about securities, such as stocks or bonds. While this data is typically updatedautomatically from external systems, here’s how to enter a securities record manually.

Make sure that securities data is entered before you enter holdings for investment accounts.Otherwise, you can’t specify that the security is part of a holding.

1. From the navigation menu, go to the Securities list view, and then select New.

2. Enter the ticker symbol, securities name, and other relevant details.

3. Save the record.

15

View Holdings Within an Investment AccountWelcome to Financial Services Cloud

Add an Asset or Liability

EDITIONS


Enter information about tangible assets—such as real estate or collectibles—or liabilities—suchas mortgages or loans.

1. On the Financials or Related tab of the client or household profile, select New in the Assets andLiabilities section.

2. Select an Asset or Liability record type.

3. Enter required details, and then save the record.

Add a Financial Goal

EDITIONS


Create a financial goal to track clients’ progress toward major purchases, retirement savings, orother life goals.

1. On the Goals tab of the client or household profile, select New in the Goals Summary section.

2. Enter a name.

3. Select the household member who is the goal’s primary owner.

4. Enter other relevant details, then save the record.

If you created the goal from the client profile and if the client’s goals are summarized at the household level, the goal is also visiblein the household profile.

You can edit or delete a goal in the Goals tab or the Related tab. For now, you can enter savings-oriented goals only; a goal such aspaying down debt isn’t supported. You can’t associate a goal with specific financial accounts.

Add a Financial Account Role

EDITIONS


Enter information about a client’s involvement with a financial account, such as an individual whois a beneficiary or trustee.

1. On the Financials tab of the client profile, select New in the Financial Account Roles section.

2. Select the financial account and the role that describes the client’s involvement.

3. Enter relevant details, including updating the start date as needed.

4. Save the record.

The newly added role is visible on the Financials tab.

Note: If you look on the Related tab of the client profile, you can see the full list of financial account roles that the clientoccupies. The Related list includes the financial account roles of Primary Owner and Joint Owner. These financial account rolesare created and updated automatically when you indicate that the client is a primary or joint owner on a financial accountrecord.

16

Add an Asset or LiabilityWelcome to Financial Services Cloud


EDITIONS


Create an opportunity record related to a financial account to track wallet share opportunities.

1. On the Financials tab, select the actions icon next to the name of any financial account.

2. Select New Opportunity (Wallet Share).

3. Enter the required fields and any relevant details.

4. Save the record.

Create a Lead

EDITIONS


Create a lead record to track a prospect.

1. From the navigation bar, go to the Leads list view, and then select New.

2. Select the appropriate lead record type, and select Next.

3. Enter the name, company name, and lead status, and other relevant details.

4. Save the record.

Convert a Lead to a Client

EDITIONS


Convert a lead record to a client record.

1. From the lead detail page, select Convert.

2. Click in Account Name, then select New Account.

3. Select the Individual record type, then select Next.

4. Enter any relevant details.

5. Save the new account record.

6. If you want to also create an opportunity record associated with the converted lead, enter an opportunity name.

7. Select Convert.

8. Close the confirmation message or select Go to Leads to continue creating more lead records.

Create a Case from Financial Accounts

EDITIONS


Create a case for a client’s financial account so you can see the related case from the financialaccount’s page or the client’s profile page.

1. From a client’s profile page, click the Financial Accounts tab.

2. Next to a financial account name, from the dropdown menu, click New Case.

17

Create a Wallet Share OpportunityWelcome to Financial Services Cloud

3. Enter the information about the case.


The case is associated with your client’s financial account.

You can see this case from the Cases section on the Related tab of either the financial account page or the client’s profile page.

Work with Client Data

EDITIONS


Track the specifics of your client interactions so that you develop a rich history to draw on forbuilding relationships.

Track Client Interactions

Track tasks and events and log client communications to maintain a complete history of yourinteractions with a client.

Track Client Interests

Track clients’ personal and financial interests so it’s easy to personalize communications and match clients with events of interest.

Track Client Interactions

EDITIONS


Track tasks and events and log client communications to maintain a complete history of yourinteractions with a client.

1. On the client profile, go to the Activity tab.

2. On the appropriate tab, schedule a task or event, send an email, or log a call.If the client’s tasks or events are included in the household’s roll-up summary, this task or eventis also displayed on the household profile’s Activities Related List on the Related tab.

Keep in mind these considerations when tracking client interactions.

18

Work with Client DataWelcome to Financial Services Cloud

• Your administrator can designate which activities affect the Last Interaction and Next Interaction dates that you see on the clientand household profiles. Ask your administrator for details.

• Last Review and Next Review dates are not calculated automatically based on a client’s Review Frequency. Last Review and NextReview dates are unrelated to the client’s task or event dates, even if a task or event is a review meeting.

Track Client Interests

EDITIONS


Track clients’ personal and financial interests so it’s easy to personalize communications and matchclients with events of interest.

1. On the client profile, select Edit in the highlights panel.

2. In the Know Your Client section, click in the Personal Interests or FinancialInterests field.

3. Enter an interest, such as Cooking or Retirement. If it exists in the app, select it fromthe list of suggested interests. Otherwise, press the Enter key after each new entry to add it tothe list.


19

Track Client InterestsWelcome to Financial Services Cloud

Financial Services Cloud: Platform for High-Touch … Financial Services on the Platform for...

Documents

Transcript of Financial Services Cloud: Platform for High-Touch … Financial Services on the Platform for...