Salesforce (NYSE: CRM) has expanded its product suite with the availability of Salesforce Financial Services Cloud, helping streamline portfolio management and other data utilities, according to a Salesforce statement.
The launch of the Financial Services Cloud has already been bolstered by upwards of twenty partners that have enlisted in the distribution and utilization of Salesforce’s new management tool. The Financial Services Cloud is powered by Salesforce Lightning, which is designed to help advisors better connect with clients.
This includes expanded client profiles and household functionality – more specifically, the Financial Services cloud will help foster real-time analytics, always-on client engagement. In addition, through existing partnerships with Salesforce, the new tool will deliver a plethora of new capabilities for users that includes account and data aggregation, implementation services, portfolio management and rebalancing, prospecting, and full security and compliance measures.
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According to Simon Mulcahy, GM of Financial Services, Salesforce, in a recent statement on the new cloud launch: “Legacy advisor solutions were created decades ago to serve a product-centric world. Today, we live in a new world that is digital- and client-centric, which is turning the wealth management industry on its head.”
“We’re not only building tools that advisors need for this new world, but we’re also joining forces with best-in-class partners to deliver a next-generation solution that takes advantage of modern, cloud technology. This will help advisors transform the way they serve clients,” he added.
“Today’s investors don’t wait for quarterly meetings to discuss their finances with advisors; they expect to be able to engage them for advice when and how they want. That’s why we are thrilled to partner with Salesforce in developing the Financial Services Cloud. This initiative brings the latest digital technologies to the wealth management industry to help transform the way advisers connect with their clients,” reiterated Richard Lumb, Group Chief Executive, Financial Services at Accenture, in an accompanying statement.