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Page 1 Salesforce Industries Financial Services Wealth Management Industry Blueprint V 1.0 Mar 3, 2016

Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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Page 1: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

Page 1

Salesforce Industries

Financial Services – Wealth Management

Industry BlueprintV 1.0 – Mar 3, 2016

Page 2: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

Page 2© Copyright 2000-2015 salesforce.com, inc. All rights reserved. Various trademarks held by their respective owners. Salesforce.com, inc. The Landmark at One Market, Suite 300, San Francisco, CA, 94105, United

States

Forward-Looking Statements

Page 3: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

Page 3

Industry Blueprint

Page 4: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Financial Services Business View

PROCESSES MARKET SELL ORIGINATE UNDERWRITE / ADJUDICATE FULFILL SERVICE & TRANSACT REVIEW, RENEW & GROW COLLECT & MANAGE

CLIENT

ENAGEMENT ATM Branch Contact Center Agent/BrokerMobile OnlineSocial

» » » » » » »

INVESTMENT BANKING

PRODUCTS

Equities Trading

Mergers and Acquisitions

Asset Management

Brokerage Services

Private Banking

COMMERCIAL BANKING

PRODUCTS

Banking Credit Cards

Cash Management Prepaid Cards

Equity/Debt Trade Finance

Loans Trade Services

Payments Liquidity Management

ANNUAL REVENUE SEGMENTS

< $100M

$100M - $500M

$500M - $1B

$1B - $10B+

ANNUAL REVENUE SEGMENTS

$100M - $500M

$500M - $1B

$1B - $10B

$10B +

INSURANCE

PRODUCTS

Life & Annuities

Property & Causality

CUSTOMER SEGMENTS

PERSONAL COMMERCIAL

Single Small Business

Dinks Mid Size

Family Enterprise

Retired

Wearables

WEALTH MANAGEMENT

CLIENT SEGMENTS

Mass Market

Mass Affluent

High Net worth

Ultra High Net worth

PRODUCTS/SERVICES

Asset Management

Deposits

Lending

Insurance

Concierge Services

RETAIL BANKING

PRODUCTS

Deposits

Investments

Payments Credit Cards

Loans LOC

Mortgage Services

CONSUMER SEGMENTS

Student

Post-Grad/First Job

Married

Family/Investing

Retirement

Page 5: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

Wealth Management Blueprint has been defined using the following method

industry trends

drive new business

themes

business

themes

drive

new

business

capabilities

© Copyright 2000-2015 salesforce.com, inc. All rights reserved. Various trademarks held by their respective owners. Salesforce.com, inc. The Landmark at One Market, Suite 300, San Francisco, CA, 94105, United

States

Page 6: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

Key Wealth Management Trends

Wealth

Management

Industry

Drivers

Changing

Investor

Behavior

Robo

Advisors

Bigdata

AnalyticsGoal Based

Advice

Changing

Regulatory

Environment

Shifting

Demographics

Reference: 10 Disruptive trends in wealth management 2015 by Deloitte

© Copyright 2000-2015 salesforce.com, inc. All rights reserved. Various trademarks held by their respective owners. Salesforce.com, inc. The Landmark at One Market, Suite 300, San Francisco, CA, 94105, United

States

Page 7: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

New Business Themes

Business Themes

Tailored financial advice & products

Anywhere/anytime advice

Rich digital engagement

Multiple sources of advice

Robo & hybrid advice

Goal based advice

Multi-generational relationships

Advisor & client retention

Effective & proactive engagement

Predictive analytics

Advisor efficiency

Regulations & Compliance

© Copyright 2000-2015 salesforce.com, inc. All rights reserved. Various trademarks held by their respective owners. Salesforce.com, inc. The Landmark at One Market, Suite 300, San Francisco, CA, 94105, United

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Page 8: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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Wealth Management Blueprint: Level 0 (Business Capabilities)

Back

Office

Middle

Office 8. Risk

Management9. Internal Controls 10. Accounting 11. Legal

12. Research &

Analysis

13. Front Office

Support Functions

Front

Office 1. Practice

Management

2. Prospecting &

Relationship

Management

3. Wealth

Planning4. On-boarding 5. Servicing

6. Modeling,

Rebalancing &

Portfolio

Management

7. Reporting,

Review and

Bigdata Analytics

14. Product

Development &

Management

15. Product

Fulfillment &

Servicing

16. Treasury

Management

17. Human Resources

Management 18. Technology

19. Enterprise

Planning &

Management

Client

EngagementATMBranch Advisor/Broker MobileOnline Social WearablesContact Center

Enablers 20. Enablers

3rd Parties 21. External Parties

360-degree

Client View

Party(Retail Customer /

B2B Party)

Contact

Information

Engagement

Preferences

Client

Interactions &

Knowledge

Financial

Information

Case Info,

Service

History

Transaction

History

Rollups

Page 9: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

1. Practice

Management

2. Prospecting & Relationship

Management3. Wealth Planning 4. On-boarding 5. Servicing

6. Modeling,

Rebalancing &

Portfolio

Management

7. Reporting,

Review, Bigdata

Analytics

1.1 Sales Planning &

Forecasting

2.1 Prospect

Attraction

2.6 Pipeline

Mgmt.

3.1 Goal

Based

Planning

3.6 Family Office

Support

4.1 Digital Account

Opening &

Compliance

Validation

5.1 Trading

Facilitation &

Execution

6.1 Model Dev. &

Admin.

7.1 Practice

Dashboards

1.2 FA Attraction &

On-boarding

2.2 Leads &

Referrals Mgmt.

2.7 Campaign

Mgmt.

3.2

Retirement

Planning

3.7 Philanthropic

Planning

4.2 Straight Through

Processing5.2 Case Mgmt. 6.2 Rebalancing

7.2 Operational

& Compliance

Reporting

1.3 Compensation

Mgmt.

2.3 Opportunity

Management

2.8 Activity

Mgmt.

3.3

Education/Col

lege Planning

3.8 Special

Needs

4.3 Product/Service

Selection

5.3 Self Service,

Client Portal,

Robo advisors

6.3 Portfolio

Construction

7.3 Client

Reporting

1.4 Regulatory &

Compliance

Oversight

2.4 360-degree

client view

2.9 Journey

Mgmt.

3.4 Int’l Tax

Planning

3.9 Simulation &

Wealth

Projection

4.4 Account Opening

Interfaces 5.4 Call Center

6.4 Portfolio

Analysis &

Monitoring

7.4 Bigdata

Analytics &

Business

Intelligence

1.5 Business Mgmt. &

Admin Support

2.5 House holding

& Relationship

groups

2.10 Data

Aggregation

3.5 Estate

Planning

3.10 Proposal

Assembly &

Approval

Workflow

4.5 Document Mgmt.

5.5 Relationship

Deepening &

client

engagement

effectiveness

6.5 Cash Flow

Forecast

7.5 Periodic

Client Reviews

3.11 Investor

Risk Scoring

Wealth Management Blueprint: Front Office – Level 1 Processes

Page 10: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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Wealth Management Blueprint: Middle Office – Level 1 Processes

8. Risk Management 9. Internal Controls 10. Accounting 11. Legal 12. Research &

Analysis

13. Front Office Support

Functions

8.1 Manage Credit Risk 9.1 Analyze Capital Flow 10.1 Statements11.1 Legal

Management

12.1 Securities

Research 13.1 Paperless middle office

8.2 Manage Market Risk 9.2 Control checks on

accuracy of profits & loss 10.2 Financial Control

11.2 Contract

Structuring 12.2 Rating

13.2 Automate compliance

functions like KYC/AML

8.3 Manage Operational

Risk9.3 Auditing

10.3 Financial

Compliance Resolution

11.3 Monitoring

Regulatory Change 12.3 Performance

13.3 Automate handling of

client actions items like

checking order status, adding

beneficiary etc.

8.4 Manage Strategic Risk 10.4 Tax Administration 12.4 Classification

13.4 Automate client/practice

mgmt. & compliance reporting

and analytics

8.5 Manage Regulatory

Risk12. Market News

Page 11: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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Wealth Management Blueprint: Back Office – Level 1 Processes

14. Product

Development &

Management

15. Product

Fulfillment &

Servicing

16. Treasury Management

17. Human

Resources

Management

18. Technology 19. Enterprise Planning &

Management

14.1 Securities15.1 Investment

Accounts16.1 Cash Management

17.1 HR Policies

& Practices

18.1 Infrastructure

Mgmt.

19.1 Strategic Business

Planning

14.2 Banking Products 15.2 Bank Accounts 16.2 Liquidity Planning & Control17.2 Workforce

Development

18.2 Information

Security Mgmt.19.2 Change Mgmt.

14.3 Insurance Products 15.3 Insurance

Policies

16.3 Management of interest,

currency and commodity risks

17.3 Organization

Development

18.3 Business

Continuity Mgmt.

19.3 Release & Deployment

Mgmt.

14.4 Special Products 15.4 Annuities 16.4 Procurement of finance &

investments

17.4 Employee &

Labor Relations

Mgmt.

18.4 Information

Mgmt.19.4 Performance Mgmt.

14.5 Non-Financial

Products

15.5 Books &

Records

16.5 Contacts with banks & rating

agencies

17.5 Workforce

Strategy 18.5 Device Mgmt. 19.5 Service Level Mgmt.

14.6 Product Strategy 15.6 Cash Mgmt 16.6 Corporate Finance 19.6 Program & Project Mgmt.

14.7 Product Master15.7 Custody &

Clearing

19.7 Facilities Mgmt. &

Support

Page 12: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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Wealth Management: Enablers & External Parties – Level 1 Processes

20. Enablers

20.1 Security 20.5 Ideas

20.2 Workflow 20.6 Integration

20.3 Collaboration 20.7 MDM

20.4 Communities

20.8 Apps in

AppExchange

21. External Parties

21.1 Custodians21.7 Social Media

21.2 Brokers & Transfer

Agents

21. 8 Lead/Prospect Data

Providers

21.3 Market Data

Providers

21.9 Other Data/Service

Providers

21.4 Account Aggregators 21.10 Regulators

21.5 Insurance Clearing

Houses21.11 Govt. Agencies

21.6 Data Aggregators

Page 13: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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Client Engagement: Capability Overview

Client Engagement

Branch

Agent/Broker

Contact Center

Online

Mobile

Social

ATM

Wearables

Capability Summary

• Provide seamless experience across all channels

• Enable co-browsing

• Leverage mobile & social channels to effectively engage millennial clients (Gen Y)

• Drive do-it-yourself clients to less expensive or self service channels

• Leverage assisted channels to provide differencing customer experience by providing

advice on complex portfolios & excellent customer service

• Improve advisor productivity by delivering right information to right channels based on

engagement preferences

• Leverage wearables to send contextual alerts and notifications to both advisors and

clients (example: market event that forces a rebalancing scenario)

A focus on digital channels like mobile/social allows financial advisors to engage younger clients effectively

at a reduced service cost. Assisted channels are necessary to provide advice on complex portfolios & to

handle customer issues.

Page 14: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Front Office Layer: Capability Overview

Front Office

Practice Management

Prospecting &

Relationship Management

Wealth Planning

On-boarding

Servicing

Modeling, Rebalancing &

Portfolio Management

Reporting, Review,

Bigdata Analytics

Capability Summary

Manage:• Improve advisor efficiency by addressing workflows gaps, reducing duplicate data entry and providing single view of information from

across many front, middle and back office systems

• Manage business effectively by leveraging analytics over historical practice performance data

• Enforce regulatory/compliance requirements and manage regulatory risk by proactively identifying and resolving non-compliance

items. In light of changing regulations, Compliance can be a differentiating capability that wealth management firms can offer to

advisors. Also compliance automation can significantly improve advisory efficiency and gives time back to build/develop client

relationships

• Provide 360-degree client view so that advisors can fully understand client goals/needs and can provide a personalized advise

• Effectively engage prospects/clients across all channels and throughout the client lifecycle

• Offer digital on-boarding experience with straight through processing & automated compliance checks

• Provide integration to data aggregation tools, wealth planning, portfolio management, performance reporting, custodians and other

middle & back office systems like books & records, product fulfillment/servicing systems so that advisors can focus on

advising/serving clients rather than aggregating data from multiple systems

• Provide servicing capability through self service and assisted channels (offer client portal, call center integration etc.).

Deepen: • Enable cross/up sells by addressing workflow, data gaps and integrations across different line of businesses

• Leverage predictive analytics to anticipate and resolve service actions

• Proactively deliver alerts & notifications to advisors & clients on contextual business/life events

• Reduce advisor’s swivel chair time by fully integrating front, middle and back office systems

Grow:• Attract financial advisors and enable them by providing right tools to grow their book-of-business

• Leverage predictive analytics to target leads/prospects with relevant offers/products and improve lead conversion rates

Processes provide capabilities to manage the advisory practice and ensure adherence to compliance

standards, tools to improve advisor productivity and build book of business, and an engagement layer to

engage clients throughout the client life cycle.

Page 15: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Middle Office Layer: Capability Overview

Middle Office

Risk Management

Internal Controls

Accounting

Legal

Research & Analysis

Front Office Support Functions

Capability Summary

• Enable Paperless Middle Office (ex: digital on-boarding)

• Fully automate front office support activities

• Implement and enforce technology controls to manage regulatory and compliance risk

• Ensure effectiveness of governance, risk management, and control processes through internal audits

• Allow senior leaders to have real-time access to quality business data by enforcing data

quality/accounting standards

• Automate reporting and analytics by providing shared service based on single view of business data

• Allow business to manage different types of risks: operational, regulatory, strategic, credit and market

• Provide up to date research and analysis of securities. Provide data on securities performance, future

projections, rating, market perspective etc.

Processes that help manage risk across the organization through various controls, standards and audits.

They also provide administrative support to customer-facing personnel.

Page 16: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Back Office Layer: Capability Overview

Back Office

Product Development &

Management

Product Fulfillment & Servicing

Treasury Management

Human Resources Management

Technology

Enterprise Planning &

Management

Capability Summary

• Define product strategy, develop products and manage master product catalog

• Provides product specific fulfillment, servicing and default management capabilities

• Manages core banking functions like cash management, payments, procurement of finances,

investments etc.

• Provide enterprise capabilities HR, stakeholder relationships mgmt., finance/asset mgmt.,

project/program mgmt., change mgmt., release & deployment mgmt., performance mgmt., service

level mgmt., facilities mgmt. etc.

• Provide technology infrastructure (ex: enterprise service bus, servers, mobility devices) to run

banking operations

Processes that provide core banking and standard enterprise management capabilities

Page 17: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Enablers Layer: Capability Overview

Enablers

Security

Workflow

Collaboration

Communities

Ideas

Integration

MDM

Apps in App Exchange

Capability Summary

• Provide sign sign-on, event monitoring, field auditing and encryption type of capabilities to protect

customer data & meet regulatory requirements

• Provide E2E workflows to fully automate business processes and eliminate manual workarounds

• Enable collaboration with clients and members of advisor team

• Enable clients to self service and have real-time access to their portfolio performance data by providing

client portal across multiple engagement channels

• Leverage partners to provide integration capabilities like enterprise service business, banking APIs, ETL

& MDM tools etc. to fully connect the wealth management organization and reduce duplicate data entry

and improve advisor efficiency

• Enable partners to build innovative apps to provide differentiating customer experience

• Provide single view of data to enable E2E reporting & analytics

Enablers provide improved operational efficiency, data security and effective client engagement by

deploying automated business processes and connecting the entire wealth management organization in

an effective manner

Page 18: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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External Parties: Capability Overview

External Parties

Custodians

Brokers & Transfer Agents

Market Data Providers

Accounts Aggregators

Insurance Clearinghouses

Data Aggregators

Social Media

Lead/Prospect Data Providers

Other Data/Service Providers

Regulators

Govt. Agencies

Capability Summary

• Integrate with custodians, brokers/transfers agents, account aggregators,

clearinghouses to aggregate account data at the 360-profile level and eliminate

manual workarounds

• Fully automate business processes like on-boarding, trade execution etc. and there

by eliminate duplicate and manual data entry across multiple apps

• Build database of quality leads and improve lead conversion rates

• Integrate with social media to build social client profile. Also effectively engage

clients throughout the client life cycle and positively influence the practice brand

• Connect with regulators and govt. agencies to ensure regulatory compliance and

mitigate risk

Integrate with larger wealth management ecosystem to enable effective lead targeting by improving lead

data quality, enable E2E business processes and provide single point access to data by aggregating

data.

Page 19: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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▪ For data/information concepts defined in Salesforce Financial Services Cloud (FSC) Product, leverage the

Salesforce Data Model (ex: Account, Contact, Financial Account, Holding, Goal etc.) and extend as

necessary

▪ For data/information concepts not defined by FSC, we recommend use of ISO20022 standard as a baseline

to define data model & integration interfaces. The base ISO model can be extended to support your use

cases. Conforming to a standard will ensure easy integration & smooth orchestration between other

partner solutions & FSC. We want to eliminate/reduce conflicts in data model definition by different

partners & FSC

▪ For more info ISO standard, refer to: https://www.iso20022.org/

Data Model Guidance

Page 20: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

Page 20

Appendix A Functional Requirements

Page 21: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

1Manage advisor registration, licensing, qualifications, certifications and continuous educational requirements

Practice Management High License to advise clients

2

Provide a capability for advisors to define client service models (ex: high, med, low touch clients) and to help implement them throughout the client life cycle

Practice Management High Service models

3

Implement analytics and dashboards to manage and improve advisory practice. The dashboards might include; clients by age, clients by service models, clients by fees/commission, business expenses, AUM by regions, client profitability etc.

Practice Management High Practice dashboards

4Manage fees/commissions Practice Management High Fees/commissions

5Manage advisory relationships (includes advisor attraction & on-boarding)

Practice Management High Advisor on-boarding

6

Provide appropriate tools to advisors to help streamline advisor activities, business processes and improve advisory efficiency. They might include collecting ideas from advisors, resolving issues/cases, facilitating collaboration among advisor teams etc.

Practice Management High Advisor at the center

Page 22: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

1Provide 360-degree view of client information through automated processes

Client Prospecting &

Relationship Management

High 360-degree client view

2

Establish a centralized and comprehensive system of

record for all client profile information along with all

existing relationships.

Client Prospecting &

Relationship Management

High 360-degree client view

3

Ability for advisor to print full client view, which contains

a client’s financial goals, plans, assets, meetings

planned, etc. This requires that all supporting systems

(such as portfolio mgmt., financial planning) are able to

refer to the client uniquely.

Client Prospecting &

Relationship Management

High 360-degree client view

4Aggregate clients’ data across all the internal products Client Prospecting &

Relationship Management

High 360-degree client view

5

Aggregate clients’ data across external financial

institutions. This results in increased cross-sell

opportunities.

Client Prospecting &

Relationship Management

High 360-degree client view

6Provide capability to alert advisors on client life events or profile changes

Client Prospecting &

Relationship Management

High 360-degree viewAlerts & Notification

Page 23: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

7

Tightly integrate lead management with contact

management (i.e., activity or event management). It

enables efficient leads mgmt. as well as calendar &

contact mgmt.

Client Prospecting &

Relationship Management

High Leads Mgmt.

Activity/Event Management

8Provide ability to generate comprehensive view of a

prospect (interactions, referred by, mailers sent etc.)

Client Prospecting &

Relationship Management

High Lead/Prospect Mgmt.

9Provide Calendar/Email integration Client Prospecting &

Relationship Management

High Contact Management

10

Provide a capability to capture KYC information

beginning with first client touch. And integrate with KYC

enforcement systems

Client Prospecting &

Relationship Management

High KYC Compliance

11

Provide ability to fetch financial data from both existing

internal relationships as well as from external financial

institutions or account aggregators

Client Prospecting &

Relationship Management

High Knowledge Management

360-degree view

12Provide ability to auto populate client and financial data

from existing data sources

Client Prospecting &

Relationship Management

High Auto form population

13

Provide ability to support, customize and automate

grouping concepts like households, relationship groups

etc.

Client Prospecting &

Relationship Management

High Relationship Groups

Page 24: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

14Track lead usage and prompt advisors of ‘not acted

upon’ leads

Client Prospecting &

Relationship Management

High Leads Mgmt.

15Measure productivity with respect to lead conversion Client Prospecting &

Relationship Management

High Leads Mgmt.

16

Populate lead with client / prospect information (ex:

past advisor relationships, past meetings, etc.).

Providing access to client info along with lead helps

advisors with correct understanding of client needs

Client Prospecting &

Relationship Management

High Leads Mgmt.

17

Incorporate a structured KYC data collection

framework into profile management capability so that

advisors can comply with KYC regulations

Client Prospecting &

Relationship Management

High KYC Compliance

18

Enable KYC checks to be an automated and on-going

activity, instead of a one time check done during

account opening process

Client Prospecting &

Relationship Management

High KYC Compliance

19

Implement use cases that result in improved advisor

efficiency. They might include: Aggregating data,

presenting relevant information, generating contextual

alerts/notifications, providing integration to related

systems, streamlining business processes, surfacing

status of key business activities etc.

Client Prospecting &

Relationship Management

High Advisor Productivity

Page 25: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

1

Integrate financial plan with client profile data. The planning tool

should automatically gather data from client profile and other sources

to improve efficiency

Wealth

Planning

High

2

Implement plan wizard functionality. It should facilitate a step-wise

approach to financial plans. This helps ensure standardization and

completeness in financial plans. Based on client goals, financial

positions, and risk profile, the wizard should make a determination of

the recommended set of planning tools. It should automatically pre-

populate the planning tools with client data from profile database.

Wealth

Planning

High

3

System must provide ability to select appropriate forms based on

planning output

Wealth

Planning

Medium Part of

client On-boarding

capability

4

Integration of financial planning tools output into portfolio management

tools. This would allow advisor and client to see how portfolio is

measuring up against the financial plan. Also advisors can setup

alerts based on the performance and plan goals.

Wealth

Planning

High Part of alerts mgmt.

capability

5Provide ability for planning tools to integrate with modeling/simulation

tools to extract their output to incorporate it into financial plan

Wealth

Planning

Low

6Planning tools should support multiple goals and plans for one client Wealth

Planning

Low

Page 26: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

7Integrate advisor desktop, financial planning, portfolio management, illustration, overlay, asset allocation tools to allow for automated portfolio rebalancing

Wealth

Planning

High Portfolio Management

8

Integrate advisor desktop, financial planning, and portfolio management tools to provide automated process for comparing financial status with plan

Wealth

Planning

High Portfolio Management

9Implement goal based planning Wealth

Planning

High Planning

10Implement client action plans based non-financial goals (ex: philanthropic goals)

Wealth

Planning

High Goal based Planning

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Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

1Provide a unified account opening tool Client on-

boarding

Medium Capability

2

Provide a plan wizard to enable automatic identification and selection

of correct account opening forms based on the financial plan, product,

and custodian. Additionally the tool should have a user friendly

interface to help advisors identify the right form

Client on-

boarding

Medium Capability

3

Pre-fill all existing client information. Any information that has already

been entered should not have to be entered again. The tool should

allow both advisor and client to complete the forms online

Client on-

boarding

Medium Capability

4Allow for multi-channel account opening Client on-

boarding

Medium Capability

5Have a customizable and extensible workflow Client on-

boarding

Medium Capability

6Integrate with trading systems to facilitate handling of both dollar & non-dollar denominated asset orders

Client on-

boarding

High Trading

7Provide self-service application with good call center technology for clients with lower investable assets

Client on-

boarding

Low Platform for DIY clients

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States

Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

8Provide unified order initiation platform to enhance efficiency of

entering transactions and monitoring status

Client on-

boarding

Low Order Management

9

Streamline on-boarding business process by integrating all accounting

opening apps/interfaces (doc mgmt., custodians, forms, eSignature,

KYC etc.)

Client on-

boarding

High Streamlining

10Provide ability to view account status online Client On-

boarding

High Status tracking

11

Implement rules engine to maintain and execute various account

opening rules (ex: product rules, regulatory rules, custodian rules,

state rules etc.)

Client On-

boarding

High Rules engine

12Aggregate account data from multiple custodians, books & records

systems

Client On-

boarding

High Data aggregation

13Implement client action plans based on service models (Ex: annual/

quarterly portfolio reviews)

Client On-

boarding

High Service models

Page 29: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

1Implement self service and assisted channels to customers Client Servicing High Portfolio

Management

2Integration with product servicing systems Client Servicing High Servicing

3Implement next best servicing action Client Servicing High Analytics

4Implement case status (Domino’s pizza tracker style) Client Servicing High Case integration

5Implement client Portal for self servicing Client Servicing High self servicing

6

Implement client retention, loyalty mgmt., and relationship deepening capabilities.

Relationship deepening might include assets allocation (converting held away

accounts, retention, referrals, cross/up sells etc.)

Client Servicing High Relationship

deepening

7Implement client engagement based analytics & dashboards. Also provide

analytics around cost of acquiring new clients vs retaining existing clients

Client Servicing High Client analytics

Page 30: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

8Implement integration with trading systems to facilitate trade executions and order

status updates

Client Servicing High Trading integration

9Streamline client collaboration with advisor team Client Servicing High Collaboration

10Provide a capability to request, collect documents, capture documents, store and

share documents

Client Servicing High Document

collaboration

11Provide appointment scheduling capability for clients Client Servicing High Appointment

booking

12Implement video calling, co-browsing etc. to improve client collaboration Client Servicing High Collaboration

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States

Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

1Integrate on-boarding & portfolio management to improve advisor productivity Portfolio

Management

High Onboarding

integration

2Implement portfolio billing, client revenue, client profitability capabilities Portfolio

Management

High Billing

3Integrate planning, relationship management, and portfolio mgmt. to measure

portfolio performance against client goals

Portfolio

Management

High performance

monitoring

4Implement rebalancing Portfolio

Management

High Rebalancing

5Implement portfolio analytics Portfolio

Management

High Analytics

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States

Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

1Ability to provide single, consolidated and comprehensive statements

Reporting, Review, and

Bigdata Analytics

High

2Provide consistent client reports across business processes and business units

Reporting, Review, and Bigdata Analytics

High Client Reporting

3

Provide capability for reporting across accounts (ex: asset allocation across all accounts) and group multiple accounts for reporting

Reporting, Review, and Bigdata Analytics

High Client Reporting

4Provide comprehensive, consolidated and customizable

reporting capabilities

Reporting, Review, and Bigdata Analytics

High

5

Provide a single, comprehensive view of client

(including account balances within and outside firm,

financial plan, goals etc.)

Reporting, Review, and Bigdata Analytics

High

6Provide ability to customize reports based on client

needs

Reporting, Review, and Bigdata Analytics

High

7Provide ability to report across accounts & groups of

multiple accounts

Reporting, Review, and Bigdata Analytics

High

Page 33: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

8

Provide a centralized reporting interface Reporting, Review, and Bigdata Analytics

High

9

Ability to generate wide variety of reports without the

advisor having to go to different apps (from simple

account balance and net worth to complex attribution

analysis)

Reporting, Review, and Bigdata Analytics

High

10

Advisor should be able to customize and personalize

reports

Reporting, Review, and Bigdata Analytics

High

11

Ability to generate consolidated reports with data

across all accounts and groups of accounts

Reporting, Review, and Bigdata Analytics

High

12

Provide ability for client to review plan and portfolio

performance on an on-going basis

Reporting, Review, and Bigdata Analytics

High

13

Bigdata Analytics - Predictive analytics for practice

mgmt insights, bespoke advice & products, next best

service action, book of business insights, client

portfolio insights etc.

Reporting, Review, and Bigdata Analytics

High Predictive Analytics

Page 34: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

1

Provide capabilities to assess product suitability (based

on client risk profile), assess program/portfolio (based on

client risk & capacity) on a periodic basis and track

history for trending analysis & analytics.

CPQ, Practice Mgmt. High Business enabler

2Integrate front office with middle & back office systems

(ex: books & records systems)

Tech enabler High Integration

4

Regulatory Compliance: Provide compliance capabilities

for wealth mgmt.: FINRA, MSRB, KYC, suitability

standards, fund manager due diligence related rules etc.

Business Enabler High Regulations

Page 35: Financial Services Cloud - Blueprint Webinar (March 20, 2016)

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States

Advisor Desktop – Key Requirements

ID Requirement Category Priority Comments

1

Provide single single-on and identify management capability across all

apps that advisors use (ex: planning, portfolio mgmt., account opening,

advisor desktop, lead/contact mgmt. etc.) to streamline user access and

provisioning

Technology Enablers High Security

2Provide technology capabilities like mobile, social, collaboration etc. Technology Enablers High

3Provide alerts & notifications capability Technology Enablers High

4Provide workflow, collaboration, communities, ideas and search

capabilities

Technology Enablers High

5Provide integration and MDM capabilities Technology Enablers High

6Provide events management capability Technology Enablers High