Financial Services Cloud

July 2, 2021

Financial Services Cloud.

Financial Services Cloud (FSC) is the most suited Salesforce Cloud product for the Financial Services industry. FSC is a managed package that extends and enhances the functionality of Salesforce's core CRM products - Sales Cloud and Service Cloud - to better meet the needs of wealth management firms, insurance companies and banks. Financial advisors and wealth managers can take advantage of FSC to have a holistic view of their clients and adapt their sales strategy to best serve them.

With FSC wealth and asset managers can strengthen client relationships by delivering faster, more personalised financial advice. With a 360-degree view of goals, accounts, investments, and more, they can proactively reach out to clients when opportunities arise and stay one step ahead of their expectations.

Comnexa works with a number of clients in the financial services industry and specifically with offshore fund, trust, wealth and asset managers. The demonstration below was prepared with an offshore wealth manager in mind.

Find out how the Royal Bank of Canada transformed advisor productivity with FSC.

How is Financial Services Cloud different from Sales Cloud?

Built on the word's #1 CRM solution, Financial Services Cloud comes out of the box with all the core Sales Cloud features, plus new custom fields and objects modelling financial accounts, assets, liabilities, and goals for both individual clients and across entire households.

Financial Services Cloud is an integrated platform designed to drive stronger client relationships that last generations. Powered by Salesforce Lightning, Financial Services Cloud makes it easy for advisors to deliver a concierge level of service with the personalised, proactive advice clients expect. With an enhanced set of productivity and engagement features, advisors can spend less time gathering client information and more time doing what they do best — providing holistic, goal-based advice that puts their clients at the centre of everything they do.


Make smarter and faster client decisions.

Strengthen client relationships by delivering faster, more personalised financial advice. With a 360-degree view of goals, accounts, investments, and more, you can proactively reach out to clients when opportunities arise and stay one step ahead of their expectations.


Deepen and grow your book of business.

Benefit from more visibility into a client’s family wealth ecosystem, and get a holistic view of both managed and held-away assets. Keep track of your clients’ top relationships and uncover new opportunities to deepen and grow your book of business across multiple networks.


Wealth Reports And Dashboards

Salesforce Financial Services Cloud helps you prepare and view customised wealth reports and dashboards for your clients, providing you with a snapshot of their current financial status.

In the Reports tab, you can find various types of wealth reports stored in the following folders:

  • Client Reports.
  • Client Interest Reports.
  • Financial Account Reports.
  • Holdings and WM Asset Reports.
  • Know Your Client Reports.

Wallet Share Calculations

Wallet Share (or Share of Wallet) is a common marketing metric that helps you calculate a specific percentage of your clients’ spending on a particular product/service. It is an important factor in calculating important financial statements.

As a financial services provider, you can use the automated Wallet Share Calculation feature of the Financial Services Cloud to provide personalised services to your clients.

Whether you are managing the finances of your clients or providing them with financial advice, these calculations provide ample amount of information regarding your clients’ activities.

Relationship Mapping

It is important to keep a track of the relationships you form with your contacts and the ones they form with each other.

Relationship Mapping features allows you to determine relationships between your leads, contacts, and accounts. There are chances of your contacts having a lot in common and these relationships help you provide better services to them. e.g. Link the relationships between your intermediaries, clients, their lawyers and other complementary service providers.

This feature includes determining the relationships your team members have with your contacts, leads, or accounts. It helps the users identify whether any of your business development team know the contacts they are serving outside of the business environment.

Data Security

One of the primary concerns of clients engaging with a financial institution is that of their data being secure.

Salesforce Financial Services Cloud works in sync with Salesforce Shield, offering an additional security layer to the clients’ stored within the system. This security is also provided to the tool used for monitoring data usage access.

This reassures your clients that their valuable and sensitive data is in safe hands. Additionally, Financial Services Cloud users have access to Event Monitoring, Platform Encryption, and Field Audit Trail to further ensure the safety of data.

Client And Household Profiles

This feature provides you with a complete view of our clients’ or a household’s financial activities. It allows you to view the past, present, and probable future of the financial decisions and transactions made by your clients. This allows you to get a 360-degree understanding of your clients and helps you serve them better.

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