SFDC – Financial Services – Financial Advisory Rules Engine Development – Success Story

Client Overview

The client is an India-based Financial Planning Firm, with a vision to empower its customers’ through quality unbiased financial advice, latest technology that helps customers’ with their personal financial management & assisting them in realizing all their dreams and converting them into realistic achievable goals.

Business Challenge

  • The financial advisory and wealth management industry has been hampered by complex, inefficient and expensive technology. Relationship managers, financial advisors, wealth managers and their operations and support staff must generally deal with a confusing collection of front-office, middle-office and back-office applications, built using different technologies and with diverse user interfaces, resulting in significant duplication of data, high error rates and processing complexities.

  • This fundamental lack of integration and simplicity, from both the user’s perspective and from an operations and support perspective, means that the business is less flexible and more expensive to operate than it needs to be

  • Client had chalked out a strategy to have a Pan-India presence across all tier 1, 2 and 3 cities. The client wanted a technology platform that would be highly secure, scalable and provide a completely integrated solution, covering front-office and back-office modules from lead capture, client conversion, financial planning services, billing, invoicing, renewals, referrals and all CRM features to maintain the customers.

  • The client was keen that the new solution was hosted in the cloud to avoid Cap-ex and at the same time provide anytime anywhere access to its distributed advisors and planners’ workflow on the road.

Technical Requirements

  • Visualforce

  • Apex

Solution Strategy

  • Eternus Solutions developed and implemented the platform using Salesforce and Force.com custom development

  • The platform comprehensively covered front-office sales, services and support, back-office operations and provides modules for financial planning, portfolio management, product distribution and transaction execution, service management, performance reporting, revenue tracking, customer invoicing, CRM, customer renewals & referrals management

  • The platform was built on Force.com and provided a self-service portal for customers to view their current portfolio and financial plan online, along with other reporting views of their financial health

  • The financial products covered include equity, debt, gold, real estate, mutual funds, fixed income, retirement products, life insurance, general insurance and succession planning.

Solution Components

  • Customization of Standard objects like Leads, Accounts, and Opportunity

  • Creation of new objects for managing the Projects, Payments and various charges

  • Triggers, Workflows and Classes to manage the business work flow

  • Data Analytics using business dashboards and reports to provide key insights

  • Data integration layer to push/ pull data from the back-office systems

Development Methodology

  • Development on Developer Sandbox

  • SRS and Design documents to start building any new components

  • Design and development of workflows for Sales and Service life cycles

  • Extensive usage of Trigger, Classes, Batch Apex and Schedulers to write custom logic

  • Data Tool Configuration using standard editor

  • Coding using SFDC standards and best practices

Key Platform Features

  • Ability to configure process workflows, KPIs, SLAs, escalation rules and tailor it to align with specific advisory business model

  • Track financial advisor performance, productivity and efficiency

  • Maintain constant customer connect using tribal activity features and functions on the platform

  • Measure customer financial health using configurable scorecards

  • Mark to market customer portfolio using external data feeds

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