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Salesforce Financial Services Cloud to transform client-advisor relationship

Nurdianah Md Nur | Aug. 27, 2015
The solution enables financial advisors to always be connected with their clients and provide personalised experiences to them.

Salesforce has rolled out the Salesforce Financial Services Cloud to enable financial advisors to engage with clients anywhere and on any device, thus improving their one-to-one client relationships.

According to Accenture, more than US$2 trillion in wealth is expected to transfer between generations in the next five years. To take advantage of this, financial advisors will have to understand the needs of the clients set to inherit this wealth. "Today's investors want a much different relationship with their advisors than their parents had. They want someone who understands them and engages them on their terms," said Simon Mulcahy, SVP and GM of Financial Services, Salesforce.

To offer such clients personalised experiences, advisors could use the Client Profile in Salesforce Financial Services Cloud to view all of their clients' information in one place, including tear-sheets, financial accounts and goals. Advisors could also leverage the Client Profile's Relationship feature to visualise and manage relationships with their clients' extended family members. This could then be used to map and build one-to-one relationships with each member of their clients' households, using relevant information to manage their individual goals, such as budgeting for college or buying a new home.

Since the solution runs on cloud, it allows advisors to always be connected to their client. Instead of scheduling quarterly meetings with customers, advisors can quickly and easily share information, as well as proactively respond to questions at any time via any device.

Available from February 2016, the Salesforce Financial Services Cloud was designed with inputs from AIG Advisor Group, Northern Trust and United Capital.

To extend the functionality of the solution, advisors can add tools from Salesforce independent software vendors such as Advisor Software, Informatica, and Yodlee. For instance, by adding Yodlee Account Aggregation Platform, advisors can gain aggregated, user-permissioned account data and a 360-degree view of their client's finances. This empowers them to deliver more personalised engagements that lead to increased assets under management and improve regulatory compliance, said Salesforce. 


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