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Salesforce Sales Cloud for Wealth and Asset Management Firms

Sikich

Aug 24 2023

2 min read

Based on our years of experience working with wealth and asset management firms, we believe that the majority can benefit from using Salesforce’s Financial Services Cloud (FSC) platform. However, depending on the needs and objectives of the organization, there are instances where Salesforce Sales Cloud might be a more appropriate choice.

Let’s examine some reasons why a wealth management firm might prefer Sales Cloud to FSC:

A more straightforward solution

Compared to Sales Cloud, FSC is a complex platform that requires lots of customization. A small wealth management firm or a wealth management team that is primarily focused on marketing and sales may prefer Sales Cloud’s more streamlined functionality.

Lower cost

FSC is a more costly solution than Sales Cloud. For small-to-mid sized wealth management firms that prefer a more streamlined system, Sales Cloud can offer a more budget-friendly choice.

Keeps the focus on sales

Financial Services Cloud gives wealth management firms a 360 view of their industry, including lead generation, compliance, investment management, and building and supporting client relationships. But firms that focus primarily on marketing and sales may benefit from Sales Cloud’s sales-driven applications.

The right amount of customization

FSC is made to support the complex needs of financial industry firms, but some wealth management firms may prefer a more straightforward solution without too many bells and whistles.

Integration

Sales Cloud can be easily integrated with a firm’s current tools and platforms, which may make it desirable for a small-mid sized firm that aims to benefit from Sales Cloud’s functionality without having to overhaul all of its processes.

Still unsure? We can help!

Have you been debating between Sales Cloud and Financial Services Cloud, but still aren’t sure which one is right for your wealth management firm? Contact Sikich today and let our Salesforce product experts help you pinpoint a solution that is best suited for your business needs.

This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.

About the Author

Sikich

Sikich is a global company specializing in technology-enabled professional services. With more than 1,900 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and is comprised of one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals. *Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor. 