Salesforce has new artificial intelligence tools for advisers

The CRM can predict which clients are most likely to add money — or leave the firm

May 7, 2019 @ 1:39 pm

By Ryan W. Neal

Salesforce is making its Einstein artificial intelligence technology more useful for financial advisers.

The new Einstein Analytics for Financial Services can predict which clients are most — or least — likely to increase their assets under management, or which clients are most likely to leave the firm. The new tools are built directly into Financial Services Cloud, the version of Salesforce's client relationship management software tailored to financial advisers.

[More: Salesforce partners with IBM Watson for AI use in CRM]

Advisers can look across their book of business and drill down into individual client data to understand what is driving the AI's prediction. Rohit Mahna, general manager of Salesforce Financial Services, said this can help advisers better prepare for a client meeting or know which clients to reach out to.

"Is this a happy client or an unhappy client? You might know this for your best clients, but what about for all 650?" Mr. Mahna said. "[Einstein] is taking artificial intelligence down to the individual."

Salesforce is also using Einstein to power new analytic dashboards covering things like client financial goals, referrals and fees. Salesforce FSC now includes 100 metrics, 40 dashboards and 20 data sets so advisers don't have to rely on the home office for daily insights or analyses of their clients, Mr. Mahna said.

He added that firms can also customize the analytics they receive and connect external data sources, such as a financial planning software.

Salesforce first brought its AI engine to FSC in 2018 with Einstein Next Best Action, which recommends moves an adviser could make based on client behavior.

Invesco is also making Jemstep, a white-label digital advice technology, available on Salesforce's AppExchange. Firms using Jemstep as their robo-adviser will now be able to see client goals, risk profiles, assets and investments within Salesforce.

In a statement, Jemstep president and CEO Simon Roy said the new integration "results in an intelligent and scalable enterprise-class digital platform for advisers supporting personalized solutions for investors."


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