Salesforce Releases Cloud CRM for Wealth Managers

Salesforce has announced a new wealth management-focused, cloud-based customer relationship management system.

This is the company’s first industry-specific product.

The Salesforce Financial Services Cloud is only available for previews now, but general availability is slated for February 2016. Pricing will be announced at the time of general release.

The new Salesforce Financial Services Cloud aims to help advisors offer more personalized client experiences and increase productivity.

“Today’s investors want a much different relationship with their advisors than their parents had,” said Simon Mulcahy, senior vice president and eneral manager of financial services at Salesforce, in a statement. “They want someone who understands them and engages them on their terms. Salesforce Financial Services Cloud sets advisors free from administrative tasks and gives them the modern tools they need to supercharge their relationships.”

Through the Salesforce Financial Services Cloud’s client profile, advisors will be able to see all of their clients’ information in one place – including instant access to tear sheets, financial accounts and goals.

A component of the client profile can also help advisors gain a more complete picture of everyone in the client’s family. This “relationship” section will let advisors map and build 1-to-1 relationships with each member of their clients’ households, using relevant information to manage their individual goals, such as budgeting for college, buying a new home or planning a summer vacation.

Advisors will also be able to access the Salesforce Financial Services Cloud app from any device, allowing them to “give ongoing advice in micro-moments to their clients,” Salesforce says.

The system promises to help eliminate some of advisors’ time-consuming manual and paper-based tasks through automation.