Considerations for Designing Your Financial Services Cloud Implementation
Plan ahead to make the transition easier for your user teams, partners, and clients. To ensure successful launch and adoption, determine how you want to support client interactions and services.
Required Editions
| Available in: Lightning Experience |
| Available in: Professional, Enterprise, and Unlimited Editions |
You can implement Financial Services Cloud in a new Salesforce org or an existing org. Work with your Salesforce team to determine the best option for your company.
- Review the out-of-the-box capabilities and compare them to your current needs. How do you want to change the default configurations? Evaluate the modifications to fields, picklists, layouts, and other features that are required to support your business processes.
- Plan for integrations with transactional systems, external data sources, custodians, and any other platform.
- Estimate the size of your user base and determine your licensing requirements.
- Determine if any limits or limitations affect your implementation.
- If you are using Salesforce Go to discover and set up new features, it is important to note that Salesforce Go doesn't separate restricted-use subscriptions from unrestricted ones within the system. Any limitations for restricted subscriptions are defined in your contract and are not automatically enforced by the service. You are responsible for managing user access and ensuring these contractual restrictions are adhered to.
- Before you enable a new feature from Salesforce Go, manually review and identify any potential impact on your existing Salesforce customizations. Identifying any potential impact is especially important if you have installed the Financial Services Cloud managed package and are considering implementing the Financial Account Management feature or Group Membership and Households feature using the Financial Account Standard Data Model.
Considerations for Adopting Salesforce Standard Features
If you're an existing Financial Services Cloud user, you can continue to use the managed package features. Salesforce hasn’t yet decided about the end of life for the managed package. However, it’s recommended that you evaluate the standard financial account data model and assess the transition path to ensure alignment with the Salesforce standard platform.
If you’re a new Financial Services Cloud user, Salesforce recommends that you use the standard features and minimize the use of managed package features to align with Salesforce strategy about standard platform features. If there are features in the package that you want to use, reach out to your account team.
Here are a few migration guidelines
- Review the new features and consider whether it’s worth switching from the managed package to standard features.
- Before you decide to migrate, it’s important to thoroughly understand the similarities and differences between the standard and managed package features that are available in both.
- If you decide to migrate from the managed package data model to the standard data
model:
- Consider all the dependencies, such as independent software vendors (ISVs) or partner apps on your existing data model.
- Plan any metadata or data migration and thoroughly test them in your sandbox, and review these considerations.
Managed Package and Standard Features
The table lists the Financial Services Cloud features and indicates if a feature is available only in the managed package or is available only as a standard feature or both.
| Feature Area | Feature | Standard | MANAGED PACKAGE |
|---|---|---|---|
| Client Management and Engagement | 360 View | Yes | Yes |
| Group Membership and Households | Yes | Yes | |
| Goals | Yes | Yes | |
| Referrals | No | Yes | |
| Record Rollups | Yes | Yes | |
| Summary Rollup | Yes | Yes | |
| Financial Account Management | Financial Account and related objects | Yes | Yes |
| Financial Holdings | Yes | Yes | |
| Financial Accounts 360 Component | Yes | Yes | |
| Retail Banking Console, Wealth Management, and Corporate Investment Banking | Yes | Yes | |
| Data and Analytics | CRMA Analytics Templates | Partial | Yes |
| Reports (Advisor Reports, Top Referrals, and so on) | No | Yes | |
| Data Cloud for FSC Data Kit | Partial | Yes | |
| Integrations and Extensibility | Household API | Partial | Yes |
| Service Process Automation | Prebuilt Service Process Defintions | Yes | Yes |
