To make sure that Scott’s data is rolling up to the Adams Household, the Banker should make the Adams Household Scott’s primary Group and edit the Activities & Objects to Roll Up. A primary Group is a construct in Financial Services Cloud that allows you to define the main group for a client. You can use primary Group to roll up financial data from all the financial accounts that are related to the client or the group. By making the Adams Household Scott’s primary Group, the Banker can ensure that Scott’s financial data is included in the household summary. The Banker can also edit the Activities & Objects to Roll Up to specify which items, such as financial accounts, goals, or referrals, should be rolled up for Scott. Verified References: : Salesforce Help Article 4

To troubleshoot the issue of Financial Account Balances not adding up to the Financial Summary field in the related Household, the Admin should take the following steps:

• Ensure RollUpByLookup Configuration is Active, which is a custom setting that enables or disables the Rollup By Lookup (RBL) feature. RBL is a feature that allows users to aggregate data from financial accounts and display it at the client and group levels1.
• Ensure the reported Household is the Primary Group for the member, which is a field on the Account object that indicates whether an account is the primary group for a contact or an individual. The primary group determines which financial summary fields are displayed on the contact or individual page2. Verified References: 12

The Salesforce Admin can hide sensitive Life Events on the Life Events component on the Lightning Page using the Properties pane. The Life Events component is a Lightning component that displays a timeline of life events and business milestones for a client or a group. The Admin can use the Properties pane to customize the component and select which event types to show or hide on the timeline.

A screen flow is a type of flow that guides users through a series of screens to complete a task or collect information2. Screen flows can also interact with external systems using Apex actions or invocable actions3. In this case, the consultant can create a screen flow that collects the caller’s name and social security number from the agent, and then invokes an Apex action or an invocable action that makes a web service call to an external authentication service.

To capture and display commercial customers and their parent companies, Lake Tahoe Bank SF Admin can use the following steps:

• Add the Business record type to the Group record type mapper, which is a custom metadata type that defines which record types can be added as members of a group1.
• Leverage Groups to capture the majority owner of a commercial customer, which is a business entity that has a stake in another business entity1. Groups are a feature that allows users to create and manage household and business relationships1.
• Use Account hierarchy to capture minority owners of a commercial customer, which are business entities that have less than 50% stake in another business entity2. Account hierarchy is a feature that allows users to see how accounts are related to each other in a parent-child relationship2.
• Link multiple owners to the business entity as a Group, which allows users to see all the stakeholders of a commercial customer in one place1

When using Data Loader to insert new records into Salesforce, if the Account Owner field is not specified in the import file, the default owner will be the user who is logged into Data Loader. In this case, since the administrator is logged into Data Loader with their own credentials, they will be assigned as the owner of all the new Business Account records. This behavior is consistent with the standard Salesforce rule that every record must have an owner.

References:

• About Data Loader
• Mass update Account ownership with Data Loader

The Financial Services Cloud capability that provides the ability to accommodate the request of sharing specific records with certain users who are not typically engaged in that account is Compliant Data Sharing. Compliant Data Sharing is a feature that allows users to share records with other users based on criteria such as record type or field value. Users can create sharing rules for objects such as account, contact, individual, financial account role, opportunity participant role, or case team role. By using Compliant Data Sharing, the financial institution can share records with legal and compliance members who must be engaged for particular deals based on a field value that indicates the deal type.

Feed tracking has to be enabled for the Action Plan object in order to add a Chatter component to the Action Plan Lightning record page. Feed tracking allows you to see updates on records in Chatter feeds. You can enable feed tracking for custom objects, such as Action Plan, from the setup menu. Once feed tracking is enabled, you can add Chatter components, such as Feed or Publisher, to the record page using the Lightning App Builder. References: [Feed Tracking], [Chatter Components]

The following security settings must be set up in Salesforce to meet the requirements of using out-of-the-box Financial Services Cloud objects and components with minimal custom objects and private record sharing with managerial visibility:

• Organization-wide sharing defaults should be set to meet sharing requirements for all objects in use. Organization-wide sharing defaults are the baseline level of access that users have to records that they do not own or are not explicitly shared with them. You can use organization-wide sharing defaults to specify the default access level for each object, such as Public Read/Write, Public Read Only, or Private. You can also use organization-wide sharing defaults to enable or disable features such as grant access using hierarchies, external access, or external org-wide defaults.
• The Role Hierarchy in setup should be configured to allow for managers to automatically see records of those under them. The Role Hierarchy is a structure that represents the levels of data visibility and access that users have in an organization based on their role or position. You can use the Role Hierarchy to define the roles and subordinates for each user and grant access to records owned by or shared with users below them in the hierarchy. You can also use the Role Hierarchy to control the visibility of dashboards, reports, and territories.
• Custom permission sets and out-of-the-box FSC permission sets should be configured or updated and assigned to all users for the use of FSC components and field-level security. Permission sets are a collection of settings and permissions that give users access to various tools and functions in Salesforce. You can use permission sets to grant additional permissions or access levels to users without changing their profile. You can also use permission sets to control the field-level security for each object and field, which determines whether users can view, edit, or delete data in those fields. Financial Services Cloud provides several out-of-the-box permission sets that grant access to FSC components and features, such as Action Plans, Financial Accounts, or Relationship Groups. You can also create custom permission sets to meet your specific business needs. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2 : Salesforce Help Article 3

A suitable use case for Flow Builder is to collect input from internal users with a form placed on a Lightning page or launched by a button. Flow Builder is a tool that allows users to automate business processes by building flows that guide users through screens, execute logic, manipulate data, and interact with Salesforce and external systems. By using Flow Builder, the system administrator can create a flow that collects input from internal users with a form and performs actions based on the input.

Action Plans are a feature that allows users to create templates for common client processes, such as loan approval, account opening, or financial review. Action Plans can create repeatable tasks and automate the task sequences when executed. When an action plan is created from a template for a specific target record, such as an account or an opportunity, items that have no assigned user are assigned to the owner of that target record. Action Plans can also enhance collaboration and productivity by automatically assigning task owners and deadlines for specific client processes.

The Access Interest Tags for Financial Services Cloud permission is included in two permission sets that are provided by FSC:

• FSC Foundations permission set: This permission set grants access to the core features of FSC, such as financial accounts, account groups, households, goals, referrals, and interest tags7.
• FSC Extension permission set: This permission set grants access to additional features of FSC that extend beyond the core functionality, such as action plans, relationship groups, relationship maps, client tasks, client notes, and interest tags8.

To create a new FSC permission set that includes the Access Interest Tags for Financial Services Cloud permission, either of these permission sets can be cloned and modified as needed.

References:

• FSC Foundations Permission Set
• FSC Extension Permission Set

The following statements are true for the Financial Services Cloud Person Account Data Model:

• The Person Account is a virtual object displaying data from Accounts and Contacts objects. It represents all aspects of the person and includes data such as date of birth or tax ID number. You can use Person Accounts to store information about individual people by combining certain Account and Contact fields into a single record.
• The Person Account model uses the standard Account object to hold all of the details about a person. The Account object has been extended with custom fields and a Person Account Record Type. You can use Person Accounts to simplify your data model and reduce the number of records you need to manage.

The architect at Cumulus Insurance should be aware of the limitation that the administrator can define up to 300 total sharing rules for each object when using the Role Hierarchy and sharing rules to implement the franchise business model. Sharing rules are a way of granting additional access to records based on criteria, such as record owner, role, or field values. The Role Hierarchy is a way of organizing users into a hierarchy that reflects the reporting structure of the company. The Role Hierarchy and sharing rules can be used together to control the access and visibility of records for different users in Financial Services Cloud. However, there is a limit of 300 sharing rules per object, which means that the administrator may need to use other methods, such as public groups or manual sharing, to grant access to records beyond this limit.

References:

• [Sharing Rules]
• [Role Hierarchy]
• [Sharing Rule Limits]

Actionable Relationship Center (ARC) is a tool that a Salesforce FSC consultant can recommend to a wealth manager who needs to make sense of complex client relationships and discover new business opportunities. ARC is an advanced visualization engine that provides a holistic view of customers and their relationships with actionable insights, all in one place5. ARC helps users understand relationships among people and businesses by presenting them in interactive components, such as graphs, cards, lists, and filters6. ARC also allows users to perform actions on the customer data, such as creating tasks, sending emails, or updating records7.

References:

• Actionable Relationship Center (ARC)
• Get Started with Actionable Relationship Center
• Work with Actionable Relationship Center

Identification Document is the Financial Services Cloud object that should be recommended for storing client data on drivers’ licenses and passports. Identification Document is a standard object that represents a document that verifies a person’s identity, such as a driver’s license, passport, or national ID card. You can create identification document records for individual clients and link them to their person accounts. You can also store information such as document type, number, issue date, expiration date, and country of issuance. References: [Identification Document Object], [Manage Identification Documents]

From the Life Events card, a Wealth Advisor can take the following actions:

• Create Lead & Referral: This action creates a lead record for a new prospect or a referral record for an existing client based on the life event information.
• Request Record Approval: This action initiates an approval process for the life event record to ensure compliance and quality standards.
• Create Opportunity: This action creates an opportunity record to track the potential revenue from the life event. Verified References: : Salesforce Financial Services Cloud User Guide, page 30. : Salesforce Financial Services Cloud User Guide, page 31. : Salesforce Financial Services Cloud User Guide, page 32.

To enable Multiple Relationship Groups, which is a feature that allows users to add individuals to more than one group or household, the Admin needs to use Custom Settings. Custom Settings are similar to custom objects and enable application developers to create custom sets of data, as well as create and associate custom data for an organization, profile, or specific user. The Admin can use Custom Settings to enable Multiple Relationship Groups by following these steps:

• From Setup, enter Custom Settings in the Quick Find box, then select Custom Settings.
• Click Manage next to Group Member Record Type Mapper.
• Click Edit next to Default Organization Level Value.
• In Multiple Relationship Groups Enabled, select True.
• Click Save.

As part of the preparation for the data migration process, the administrator should run a daily backup data export for a week, then continue to run this job weekly until they are ready for data migration. This is a best practice for data migration in Salesforce that allows the administrator to identify the data they want to migrate, create templates for the data, prepare the destination org, and validate the data2. By running a daily backup data export for a week, the administrator can capture any changes or updates in the data and compare them with previous exports. By continuing to run this job weekly until they are ready for data migration, the administrator can ensure that they have the most recent and accurate data to migrate into Financial Services Cloud. Verified References: 2

The best way for the Admin to access a Financial Services Cloud pre-configured org, including data and the right licenses, to learn about the product is to request a 30-day Financial Services Cloud trial org. You can sign up for the 30-day trial using this form 4. You get preconfigured and preloaded sample data so you can start playing around in your new org right away. Once you’re done testing it out, you can transition your trial org to a production org with the help of your account executive or solution engineer. Verified References: : Trailhead Module 5

The following processes are part of Claims Management:

• Auto Adjudication, which is a process that allows claims to be processed automatically without human intervention, based on predefined rules and criteria. Auto adjudication can improve the efficiency and accuracy of claims processing and reduce operational costs.
• Reserve Management, which is a process that involves estimating and setting aside funds for future claims payments. Reserve management can help insurers manage their cash flow and solvency and comply with regulatory requirements.
• Payment, which is a process that involves disbursing funds to claimants or providers after a claim has been approved. Payment can involve different methods, such as check, electronic funds transfer, or debit card. Payment can affect the customer satisfaction and retention rate of insurers.

 The relationships between the parties when the Financial Services Cloud consultant sets up Rachel’s person account should be as follows:

• Primary Group Household - Addams Household
• Primary Member - Rachel Addams
• Spouse - Nigel Adams
• Trustee - Addams Charitable Trust
• Household - Symonds Household
• Primary Member - Neil Symonds
• Beneficiary - Rachel Addams
• Related Accounts - Addams Charitable Trust
• Related Contacts - Ivan M. Kohl

The following things happen when an opportunity record that has opportunity participants with associated share table entries is set to Private:

• The share table records are deleted, which means that any sharing access granted by the opportunity participants is revoked.
• The opportunity participant records are not deleted, which means that they still exist on the opportunity record and can be viewed by users who have access to the opportunity. 

To configure customized nodes for display in Actionable Relationship Center (ARC), developers should reference the FlexCard in the Display properties of the custom ARC relationship graph. A FlexCard is a tool that allows users to create custom user interfaces for displaying data from Salesforce or external systems using OmniScripts and Integration Procedures. A custom ARC relationship graph is a metadata type that defines the nodes and edges of a custom relationship graph for ARC. By referencing the FlexCard in the Display properties of the custom ARC relationship graph, developers can customize the look and feel of the nodes and display data from various sources on them. 

To help onboarding new customers, the consultant should recommend using Action Plan and Action Plan Template. Action Plan is a feature in Financial Services Cloud that allows you to automate and standardize common business processes or service requests, such as customer onboarding, account opening, or loan origination. You can use Action Plan to create templates that define the tasks, owners, and deadlines for each process or request. You can also use Action Plan to enforce task dependencies and completion criteria, so that bankers cannot skip or miss any tasks or move to the next stage of the onboarding process without meeting the requirements. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2

A Relationship Group is a construct in Financial Services Cloud that allows you to model complex and dynamic relationships between clients and accounts. You can use Relationship Groups to link duplicate client records and create a consolidated view of their financial data, activities, and interactions. You can also use Relationship Groups to sync data between Salesforce and the source system using external IDs and integration tools. Verified References: : Salesforce Financial Services Cloud Implementation Guide, page 67.

Unify and improve team collaboration by sharing and managing customer leads and referrals across multiple lines of business at the bank to drive customers’ financial needs and deepen client relationships; Deliver connected and personalized digital experiences to the bank’s customers thanks to a 360-degree view of its customer data consolidating multiple customer databases and sources from diverse channels at the bank; Modernize client-advisor experiences from engagement to relationship management to effectively drive long-term, trusted relationships.

To grant restricted access to users like Bank Tellers who need only limited access to Financial Services Cloud features, the Admin can use Financial Service Cloud Basic permission set license. This license enables user access to a license with contractual restrictions for Financial Services Cloud and provides access to core objects such as accounts, contacts, leads, opportunities, cases, activities, reports, dashboards, and custom objects. This license also provides access to some Financial Services Cloud features such as Action Plans, Actionable Relationship Center (ARC), Branch Management, Complaint Management, Data Consumption Framework (DCF), Discovery Framework (DF), Document Generation (DG), Groups (Householding), Intelligent Document Automation (IDA), Intelligent Need-Based Referrals and Scoring (INRS), Referral Management (RM), Relationship Builder (RB), Relationship Groups (RG), Relationship Map (RM), Timeline (TL). 

The following OmniStudio tools should be used to design a solution that meets the requirements for creating a car insurance quote process for the website:

• OmniScripts, which are tools that allow users to create guided, interactive, and intuitive scripts that capture data and execute actions. By using OmniScripts, the consultant can create a script that guides the user through the car insurance quote process and captures the contact and address information, the driver’s age, and the car model and year.
• Integration Procedures, which are tools that allow users to orchestrate data and actions across multiple systems using RESTful APIs. By using Integration Procedures, the consultant can create a procedure that calls the core system service to calculate an insurance quote based on the data provided by the user and returns the quote to the OmniScript.
• Business Rules Engine, which is a tool that allows users to define business logic and validation rules using natural language expressions. By using Business Rules Engine, the consultant can create rules that validate the data entered by the user and enforce any business policies or conditions for the car insurance quote process.

The following expectations are from implementing multi language features in FSC:

• Bankers in Japan have been accessing FSC in Japanese, but the new bankers in China will be accessing FSC in Chinese. This expectation means that FSC supports multiple languages and allows users to choose their preferred language for their user interface and data display.
• In Seoul, South Korea, the branch managers will be reviewing their FSC dashboards every morning in Korean, while their colleagues in Shanghai, China, will be doing so in Chinese. This expectation means that FSC supports multiple languages for reports and dashboards and allows users to view them in their preferred language.

To ensure the data is loading into the correct fields in Financial Services Cloud, the consultant should utilize a field mapping file with the external system allocation and the corresponding field in Salesforce. A field mapping file is a file that specifies how fields from an external system map to fields in Salesforce. By using a field mapping file, the consultant can ensure that the data from the new custom object is imported into the correct fields in Financial Services Cloud and avoid any data loss or inconsistency.

The following statements are true for Rollup By Lookup (RBL) in Financial Services Cloud:

• An RBL (Rollup By Lookup) rule displays summary calculations of financial account information, such as account balances. You can use RBL rules to aggregate financial account data across different levels of client relationships.
• The Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the diem and group levels. You can use RBL configuration to define which fields are rolled up and how they are calculated for each diem and group type.
• Salesforce does not recommend or provide support for creation or customization of Financial Services Cloud RBL rules. RBL rules are complex and require extensive testing and validation. If you need to create or customize RBL rules, you should contact a certified Salesforce partner or consultant. Verified References: : Salesforce Financial Services Cloud Implementation Guide, page 75. : Salesforce Financial Services Cloud Implementation Guide, page 76. : Salesforce Financial Services Cloud Implementation Guide, page 77.

The order that the consultant should follow when performing the data migrations is Individuals, then Financial Accounts, then Financial Account Roles, then Financial Account Transactions. This order ensures that the data dependencies and relationships are maintained and that the data integrity and quality are preserved. By migrating Individuals first, the consultant can create the records that represent the customers of the bank. By migrating Financial Accounts next, the consultant can create the records that represent the financial products or services that the customers own or use. By migrating Financial Account Roles next, the consultant can create the records that link the individuals to the financial accounts and define their roles or relationships with those accounts. By migrating Financial Account Transactions last, the consultant can create the records that represent the transactions or activities that occur on the financial accounts. 

Enable Compliant Data Sharing for Interaction Summaries, Use Interaction Summary Participants to provide the right access to individuals or groups, and Disable Role-Hierarchy-Based Sharing for Interaction Summaries.

The following steps are required to migrate customer records from the Individual Model to Person Accounts in Financial Services Cloud:

• Ensure Person Accounts is enabled on the org. You need to have Person Accounts enabled before you can convert Individual Model records to Person Accounts. You can enable Person Accounts by contacting Salesforce Support or by using the Enable Person Accounts option in Setup > Account Settings.
• Configure your Person Account record types in the Individual Record Type Mapper. You need to map your existing Individual Model record types to the corresponding Person Account record types. You can do this by using the Individual Record Type Mapper option in Setup > Financial Services Settings.
• Use a CSV file to map PersonRecordTypeId to the Person Account RecordTypeId and use Data Loader to update Client Records. You need to update the Client records with the correct PersonRecordTypeId value that matches the Person Account RecordTypeId value. You can do this by using a CSV file and Data Loader to perform a bulk update operation. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2 : Salesforce Help Article 3

The solution that the consultant should suggest the client explore to improve its clients’ documentation submission and tracking is the Send Documents flow for Retail Banking. The Send Documents flow for Retail Banking is a prebuilt flow that allows users to send documents requests to clients via email and track the status of the requests in FSC. The flow uses DocuSign eSignature integration to enable clients to sign and return documents electronically. By using the Send Documents flow for Retail Banking, the consultant can help the client streamline and simplify its document management process and improve its customer service agents’ efficiency

The following FSC features should be part of the solution design for managing confidential deal information and notes sharing among deal team members:

• Financial Deal Management: Financial Deal Management is a feature in Financial Services Cloud that allows you to track and manage complex deals that involve multiple parties, products, and stages. You can use Financial Deal Management to store confidential deal information such as deal name, amount, status, or participants. You can also use Financial Deal Management to associate opportunities, products, or tasks with a deal.

The following names are Association Type picklist field values:

• Trust, which is a value that indicates that the accounts are related through a trust relationship.
• Family, which is a value that indicates that the accounts are related through a family relationship.
• Peer, which is a value that indicates that the accounts are related through a peer relationship.

The functionality that Rollup By Lookup (RBL) can provide for rolling up customer data at the client and group levels are as follows:

• An RBL rule displays summary calculations of financial account information, such as account balances, net worth, total assets, total liabilities, and so on1.
• When you edit a financial account record or primary group membership, the Rollup By Lookup (RBL) configuration updates the corresponding RBL summaries at the client and group levels1.
• Rollup By Lookup (RBL) displays associated records for Financial Accounts, Financial Goals, and Opportunities on the client and group pages1. Verified References: 1

According to the Salesforce documentation1, record rollups at the group level allow you to aggregate information from related records for several objects in Financial Services Cloud. When you enable record rollups at the group level, all corresponding records are stamped with the Primary Group in the Rollup__c lookup field. This field is added to the Account, Contact, Account Contact Relationship, and Financial Account objects. You can then use this field to create reports and dashboards that show aggregated data for each group.

Intelligent Need-Based Referrals and Scoring is a capability that helps bankers prioritize the most promising referrals by assigning a score based on the client’s needs, preferences, and interactions. It also helps bankers route referrals to the best suited specialists or advisors. 

The unmanaged extension package for Intelligent Need-Based Referrals and Scoring provides users access to referral dashboards and reports, as well as referral scoring and routing features.

The Financial Services Cloud feature that is most suitable for tracking clients’ hobbies for marketing purposes is Interest Tags. Interest Tags are features that allow users to add tags to contacts or individuals based on their interests or preferences. Users can create custom interest tags or use predefined ones from FSC. By using Interest Tags, the wealth management firm can capture its clients’ hobbies and use them for marketing segmentation or personalization.