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  • Writer's pictureCorey Schwitz

Leveraging Salesforce for Wealth Management

In the competitive field of wealth management, efficiency, and personalized service aren’t just goals—they’re necessities. Salesforce for wealth management, specifically the Financial Services Cloud, is engineered to meld these imperatives, equipping advisors with a platform for enhanced client rapport and streamlined back-office operations. Within this article, we explore how Salesforce facilitates a nuanced, client-focused approach that can set your firm apart.

Key Takeaways

  • Salesforce Financial Services Cloud (FSC) enhances wealth management by improving client relationship management, productivity, and streamlining processes through features like workflow automation, task management, and AI-based insights.

  • The 360-degree client view provided by Salesforce FSC offers financial advisors a comprehensive overview of client data, enabling personalized advisory services, efficient tracking of both managed and held-away assets, and integration with financial planning applications.

  • Success in implementing Salesforce FSC depends on selecting the right partner with expertise in wealth management, integration capabilities, and the ability to tailor solutions to the unique needs and regulatory requirements of the firm.

Transforming Wealth Management with Salesforce Financial Services Cloud

Wondering how Salesforce FSC revolutionizes wealth management? Here are some key ways:

  • Boosts productivity among wealth management professionals

  • Spearheads the digital transformation of the industry

  • Enables wealth advisors to build stronger, goal-oriented relationships with clients

  • Focuses on clients’ significant life events

The CRM tools within Salesforce FSC offer sophisticated client profile management, activity tracking, and communication capabilities, all of which contribute to effective client relationship management. This results in a deeper understanding of client needs and the ability to respond effectively. The rich analytics and reporting tools of Salesforce FSC provide insightful client trends and business performance data. These invaluable insights support wealth managers in seizing market opportunities.

Unifying Customer Experiences

You might be curious as to how Salesforce FSC unifies customer experiences. Salesforce FSC integrates seamlessly with a variety of tools and technologies, offering a consolidated visibility into the financial situations of clients, including their households. This holistic view of clients strengthens wealth management relationships and surpasses the barriers posed by legacy systems.

Through its integrative features, Salesforce FSC ensures the automatic updating of customer information in Marketing Cloud. This data synchronization guarantees that marketing efforts utilize the most current data, helping to deliver personalized and timely service.

Streamlining Wealth Management Processes

With its workflow automation and task management tools, Salesforce FSC aids financial advisors in minimizing administrative work. The optimization of these processes empowers financial advisors to work more efficiently, thanks to Salesforce FSC. This means they can focus more on value-added activities like financial planning and relationship-building.

The unified platform of Salesforce FSC offers the following benefits:

  • Modernizes client engagement

  • Increases satisfaction and advisor productivity through efficient, data-driven experiences

  • Streamlines operations, enabling financial advisors to operate more efficiently

  • Helps financial advisors respond more effectively to client needs

Proactive Tracking and Personalization

Advisors can deliver personalized and proactive client experiences leveraging Salesforce FSC’s customizable client management features, while also meeting client expectations. Proactive tracking and event alerts in Salesforce FSC enable engagement in significant micro-moments with clients, fostering deeper relationships.

The Einstein Relationship Insights feature in Salesforce FSC employs AI to furnish advisors with detailed client profiles. These profiles highlight personal aspirations and significant life milestones, enhancing personalization. Firms employing a 360-degree view of their client base through proactive personalization typically experience higher growth rates and are more effective in seizing cross-selling opportunities.

Elevating Advisor-Client Interactions with Salesforce Tools

Equipped with productivity tools and partner apps, Salesforce FSC empowers financial advisors to automate mundane tasks and track client referrals effectively. These tools amplify engagement opportunities, fostering more meaningful and impactful interactions with clients. The Advisor Home page in Salesforce’s Financial Services Cloud integrates with partner apps, streamlining routine workflows and centralizing client interaction tracking.

Within the Financial Services Cloud, financial advisors can schedule appointments and manage financial data with greater efficiency. This results in a more organized client management system and allows a financial advisor to engage with their clients on any device. Such timely and proactive communication assists in aligning with clients’ life goals.

Einstein Relationship Insights

Harnessing artificial intelligence, Einstein Relationship Insights within Salesforce Financial Services Cloud unearths actionable insights for managing client relationships. This technology can leverage data from various Salesforce record types, enhancing advisors’ analytical capabilities.

By analyzing extensive client data, including industry benchmarks and marketing intelligence, Einstein Relationship Insights equips advisors with predictive models and valuable information for effective follow-up actions. This AI-powered tool helps advisors to understand their clients better, fostering stronger relationships.

Marketing Cloud Integration

Wealth management practices can seamlessly integrate Salesforce Marketing Cloud to automate outreach efforts and keep communication with clients consistent. Marketing Cloud Engagement for Financial Services Cloud offers email templates for setting up efficient email campaigns for institutions.

Salesforce FSC provides predefined email templates that can be customized as needed, such as Financial Support Services Email and Investment Advice Services Email. These tools ensure that communication with clients is consistent, personalized, and timely, enhancing the client experience.

The 360-Degree Client View: A Game-Changer for Financial Advisors

Financial advisors find a comprehensive 360-degree view of client data indispensable. It provides insights into client profiles, their relationships, and interactions with other clients and institutions. The Wealth Management Lightning app within Salesforce FSC is a key tool for wealth managers. It helps them to attain a complete understanding of client needs, fostering personalized service and improved productivity through the wealth management process.

Salesforce FSC offers capabilities for financial advisors to effectively track client financial goals, key targets, and action items, ensuring a thorough overview of the clients’ financial standing. Moreover, Salesforce FSC empowers financial advisors with enhanced visibility into household opportunities and a fuller view of both managed and held-away assets. This aids in the management of numerous clients and their varied financial objectives.

Keeping Track of Held Away Assets

Salesforce FSC facilitates the tracking of held away assets. These assets are not directly managed by advisors but are crucial for understanding a client’s complete asset portfolio and identifying additional advisory opportunities. With Salesforce FSC, wealth managers can have a holistic view of all assets, not just those they manage directly.

Having this complete picture allows advisors to make more informed decisions, offer better advice to clients, and spot potential growth opportunities. This comprehensive view of a client’s assets enhances the advisor-client relationship and boosts the advisor’s effectiveness.

Access to Financial Planning Applications

Salesforce FSC integrates with a variety of financial planning applications, allowing advisors to use multiple tools within a single platform. This integration capability contributes to efficient financial planning, as advisors can access all the tools they need without switching platforms.

Salesforce FSC’s robust partner ecosystem includes integrations with various financial planning tools, ultimately enhancing the platform’s utility for financial advisors. This seamless integration allows advisors to manage their clients’ financial plans more effectively and efficiently, leading to better client service and improved financial outcomes.

Enhancing Productivity and Compliance in Wealth Management

Customizable to meet specific regulatory requirements and client service strategies of wealth management firms, Salesforce FSC offers the following benefits:

  • Boosts overall productivity

  • Simplifies day-to-day activities such as tracking sales summaries and managing events

  • Contributes to increased efficiency for relationship managers

The ability to customize Salesforce FSC to fit the unique needs of a wealth management firm not only increases productivity but also ensures that the firm remains compliant with financial regulations. This combination of productivity and compliance is a significant advantage for any wealth management firm.

Reducing Time on Administrative Tasks

Wealth managers can automate routine processes with customizable actions in Salesforce FSC, effectively cutting down on the administrative tasks they handle. The Financial Services Cloud Administrator Guide details common capabilities aiming to minimize time spent on administrative tasks, providing harmonized management features across various lines of business.

Salesforce FSC embraces a minimally disruptive approach by allowing aggregation technology to overlay existing systems. This facilitates efficient integration with financial planning applications without the need for data conversion.

Ultimately, Salesforce FSC allows wealth managers to work smarter, not harder, freeing up time for value-added activities.

Automating Compliance Procedures

With its ability to integrate with various compliance solutions, Salesforce Financial Services Cloud offers a robust framework for adhering to regulations. Automation features in Salesforce FSC, like data visualization and event tracking, streamline the process of compliance management.

By leveraging these integrated solutions and automation features, Salesforce FSC helps wealth management firms to more efficiently maintain compliance with ever-changing financial regulations. This ensures that firms can focus on serving their clients without worrying about falling afoul of regulatory requirements.

Choosing the Right Partner for Salesforce Implementation

Choosing a Salesforce implementation partner requires careful evaluation of factors like:

  • Project scope

  • Partner experience

  • Certifications

  • Cultural fit

  • Industry knowledge

  • Scalability

  • Methodology

  • Training

  • Cost transparency

  • Integration experience

  • Data security

  • Reference checks

  • Proof of concept

An effective Salesforce implementation partner provides services beyond technical setup, including application integrations, data cleansing, and comprehensive training to maximize the benefits of Salesforce CRM and enhance customer relationships.

Evaluating a potential Salesforce implementation partner’s industry expertise and track record is crucial to ensure they can deliver tailored wealth management solutions. Successful Salesforce implementation involves a skilled partner that can:

  • Fully realize the potential of the CRM through appropriate deployment

  • Recommend AppExchange apps

  • Provide pricing advice

  • Offer technical expertise to reduce project risks

  • Foster widespread user adoption

Customizing Solutions for Unique Needs

Partners that understand the unique needs of the wealth management industry can offer immense benefits, as they can:

  • Create specific pre-built solutions or custom configurations in Salesforce FSC

  • Provide expertise in Salesforce Financial Services Cloud adoption

  • Ensure that business goals align with user needs

  • Lead to more effective customization and usage

Business Analysts are crucial for Salesforce Financial Services Cloud adoption, as they ensure that business goals align with user needs, leading to more effective customization and usage.

Selecting a partner capable of customizing Salesforce FSC to meet a firm’s unique needs guarantees an optimal fit for the platform. This can result in more efficient processes, improved client relationships, and a competitive edge in the wealth management industry.

Integrating with Custodial Systems

AppCrown’s multi-custodian integration engine specifically designed for Salesforce FSC streamlines the aggregation of daily custodian data and aids in efficient household creation for RIAs and broker dealers. The success of integrating custodial and other third-party systems with Salesforce depends on the expertise of the implementation partner to merge these systems effectively.

Salesforce FSC at Sikich integrates with a variety of third-party applications including financial account data apps, form generation systems, and enhanced workflow applications. Choosing a partner that can effectively integrate Salesforce FSC with custodial systems ensures that the platform will fit seamlessly into a firm’s existing infrastructure.


In conclusion, Salesforce Financial Services Cloud is a transformative force in the wealth management industry. It offers a suite of powerful tools that enhance productivity, strengthen client relationships, provide actionable insights, and ensure regulatory compliance. Choosing the right Salesforce implementation partner is crucial to fully realize the benefits of this robust platform. With its ability to streamline processes, personalize services, and offer a 360-degree view of clients, Salesforce FSC is truly a game-changer for financial advisors.

Frequently Asked Questions

What is Salesforce Financial Services Cloud (FSC)?

Salesforce Financial Services Cloud (FSC) is a platform tailored for wealth management professionals, aiming to boost productivity, foster client connections, and offer strategic insights through analytics and reporting tools.

How does Salesforce FSC unify customer experiences?

Salesforce FSC unifies customer experiences by integrating with various tools and technologies, offering proactive tracking, and personalizing client experiences for a tailored approach.

What is the role of Einstein Relationship Insights in Salesforce FSC?

Einstein Relationship Insights uses AI to analyze client data and provide advisors with predictive models and valuable information for effective actions in Salesforce FSC.

How does Salesforce FSC facilitate compliance in wealth management?

Salesforce FSC facilitates compliance in wealth management by integrating with compliance solutions and offering automation features for streamlined compliance management.

What factors should I consider when choosing a Salesforce implementation partner?

When choosing a Salesforce implementation partner, consider factors such as project scope, partner experience, certifications, cultural fit, industry knowledge, scalability, methodology, training, cost transparency, integration experience, data security, reference checks, and proof of concept to make an informed decision.


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