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Our client, an investment advisory firm, faced challenges scaling its operations with an outdated CRM system. Their legacy system (Junxure) lacked the flexibility and integration capabilities needed to keep up with the firm’s growth. Wealth managers had to switch between multiple systems to track client information, portfolio data and compliance tasks—creating inefficiencies that impacted both internal operations and client service.
Additionally, the firm needed to improve its ability to manage key wealth management processes and workflows, such as Required Minimum Distributions (RMDs), Know Your Customer (KYC) requirements and client engagement tracking. While Salesforce FSC provided a strong foundation, the firm required significant industry-specific customizations to tailor the platform to its specific needs.
We worked closely with the firm to migrate their data from the legacy CRM to Salesforce FSC, ensuring a seamless transition without data loss or disruption. To enhance efficiency and usability, we customized FSC to align with the firm’s unique workflows, integrating portfolio management tools and automating key processes.
One of the major enhancements included improving RMD tracking. While FSC offers a basic RMD function, it lacked the sophistication wealth managers needed to effectively oversee distributions. We built a tailored RMD solution that not only identified which clients were due for an RMD but also automated the generation and distribution of letters and emails—eliminating a previously manual and time-consuming process.
We also developed a custom KYC solution to help portfolio managers maintain client relationships and compliance. This included automated task generation based on client attributes, dashboards to track upcoming and overdue KYC tasks, and a streamlined workflow for executing client outreach.
Additional enhancements included:
Throughout the implementation, we provided managed services to refine and optimize the system based on real-time feedback, ensuring that the firm’s evolving needs were met.
The implementation of a tailored Salesforce FSC solution transformed the way advisors and operations teams managed client relationships and compliance. By reducing reliance on multiple systems, automating manual processes and improving access to key client data, the firm significantly increased efficiency (reducing “chair swiveling”) and enhanced the quality of service provided to clients.