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Salesforce Launches AI-Powered CRM for Financial Advisors

March 29, 2017

With Financial Services Cloud Einstein, financial advisors can see a holistic view of each client's household, visualize their client's wealth ecosystem and leverage Einstein artificial intelligence to uncover new client opportunities.

Since its general availability in March 2016, Financial Services Cloud continues to see tremendous customer momentum, including Transamerica Financial Network (TFN), which is standardizing on the solution for advisors and agents. It joins Perigon, Veterans First Mortgage and Wealth Enhancement Group, who are using Financial Services Cloud to connect with clients in entirely new ways.

Wealth Management Today

Today's investors are sharing more data than ever before. However, only 18% of them say their advisors are doing an excellent job tailoring advice to them.1 This personalization gap is driven in part by the inability of advisors to link together clients' multiple accounts and relationships to gain a holistic view of their financial lives, as well as the relationships they value most. To meet the needs of today's investors — and, at the same time, grow their books of business — financial advisors must stop managing data and relationships in silos, and not only start capitalizing on the wealth of information clients are providing them, but also taking advantage of emerging technologies like artificial intelligence that enable them to work smarter.

Introducing Financial Services Cloud Einstein

Last year, Salesforce launched Financial Services Cloud to provide advisors with the next generation of tools to build deeper 1-to-1 client relationships, supercharge productivity and deliver always-on client engagement. Today, Salesforce is adding new innovations to the product that make every advisor smarter including:

  • Einstein Opportunity Insights enable advisors to boost productivity and intelligently uncover opportunities based on clients' sentiments, competitor mentions and overall engagement. For example, advisors can automatically see if a client mentions a competitor in an email thread and — when coupled with a decrease in communications — receive a reminder to reach out and nurture the relationship.
  • Relationship Builder gives advisors the ability to easily connect information about clients and their households in one place, and edit their existing roles and activities. For example, an advisor can easily add when a client has taken on a new role such as becoming a board member at a company.
  • Relationship Groups enable advisors to link clients to multiple households, trusts and business groups to ensure they have holistic views of wealth across all accounts and relationships. For example, advisors can track when their clients take on new responsibilities within other households, such as becoming a power of attorney for an aging parent, and then proactively reach out with personalized advice.
  • With Relationship Map, advisors can visualize a client's family wealth ecosystem and financial accounts in a single snapshot and drill into opportunities to deepen and grow their book of business. For instance, an advisor can discover that a client has become the beneficiary of a trust that is in need of estate-planning services.

"Clients' financial circumstances and goals are constantly changing," said Mat Johnson, chief strategy officer, Perigon. "To build and nurture strong relationships with them, it is crucial for our advisors to have a panoramic view not only of individual clients, but also of their households and extended networks. New Financial Services Cloud Einstein helps augment our advisors with AI, giving them the visibility and intelligence to provide clients with the best guidance based on all relevant factors."

"Relationships are complicated. Clients are often part of multiple households and play multiple roles," said Rohit Mahna, SVP and GM of Financial Services, Salesforce. "Financial Services Cloud Einstein gives advisors a snapshot of a client's entire wealth ecosystem, and empowers them to uncover new opportunities that exist within their client's extended household or relationship groups. And with Einstein AI built in, advisors can better prioritize their days and engage with the right clients at the right time."

Pricing and Availability

•Relationship Builder, Relationship Groups and Relationship Map are generally available today at no additional charge for all Financial Services Cloud users.

•Einstein Opportunity Insights is available for $50 per user, per month for Financial Services Cloud users in Enterprise Edition and above.

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