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.
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.
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.