The Salesforce1 Ecosystem for Financial Advice

Key Concepts

PractiFI is pretty easy to learn. But it’s a bit different to systems you may have used before. So let’s explain the

key concepts.

Ready?

!  A client is usually a household or a business

! Mr John & Mrs Jean Smith & their 2 kids = the Smith Household = 1 client, 4 client people

!   Each client is assigned a segment and moves through a lifecycle of stages

!   The heart icon represents clients, because we all love our clients (of course!)

!  A service is work (typically chargeable) that you perform for clients

!  Over time, you may perform many services for a client, e.g. limited advice, comprehensive advice, a mortgage

application, an insurance policy application

!   Your practice’s revenue, costs & profitability can be tracked through services

!  As part of providing an advice service (remember services from last slide?), you’ll capture your client’s

financial goals

!   You’ll set an overall strategy and make specific recommendations to help achieve those goals

!   The financial instruments you implement – investments, loans, policies, etc. – are tracked against those

recommendations

!   You can capture relationships of any kind between anyone of interest in your practice

!   E.g. the Smith Household’s lawyer is Morley Partners; Feldman Household was referred by Tim, your

paraplanner; Tony Alvarez is the main contact person at Alvarez Household & Smart Systems (both clients)

!   If a relationship type isn’t in the picklist, just talk to your PractiFI administrator & they’ll add it in (or they’ll call us!)

!   Your administrator will configure standard processes for routine work done in your practice, like “Needs Analysis”, “Client Review”

or “Life Policy Application”

!   Each process has a set of associated steps

!   You can start a process for a client from the Launcher menu (the icon in the top nav bar), which will create and allocate

tasks for each process step

!   Typically you’ll start a process against a service, e.g. start the Needs Analysis process for a Comprehensive Advice service

!   This is where you add simple file notes, upload documents & collaborate with your team about a client

!   It also contains automated audit notes to let you know when important information about the client changes

!   You can apply settings to get a daily digest of client feeds emailed to you & to receive an email whenever a team

member comments or asks you a question

You don’t have to learn everything on day one. Start with clients (the heart icon, remember?), get comfortable and

move on from there.

Got a question? Feel free to drop us a note.

team@practifi.com