About Wealth Effects
Wealth Effects’ mission is to guide its clients through life’s many stages. The firm offers its clients stability through college planning, retirement planning, career changes/guidance, elder planning, divorce, and estate planning. They use Fidelity as a custodian and pride themselves on offering clients outstanding personalized white-glove service at scale.
Business Case
Wealth Effects was looking to improve its overall workflow efficiency by reducing administrative and repetitive tasks for client relationship management. They wanted to reduce human error and ensure all required tasks were completed correctly and timely. Wealth Effects also needed a better way for advisors to relay money movement requests to operations. The requests needed to include the correct details, only operations relevant information, and be able to notify operations when the request was submitted.
Solution
Leveraging Plative Innovate, Wealth Effects created a custom screen flow in Salesforce Financial Services Cloud for creating Case records specific to each money movement type. The screen components were dynamic so only relevant fields would appear and the fields were designed to match the required fields in Fidelity. A custom flow was created to send escalation emails based on due date and tasks created were automated based on requirements.
Outcomes
Implementing these Salesforce enhancements, advisors now spend less than 20 seconds creating money movement requests that contain all required fields and relevant information for processing. Operations can now process requests without having to follow up for clarification and an audit trail is now visible for tracking all money movement requests. By streamlining these tasks, Wealth Effects has improved advisor productivity and can focus on increasing revenue.
