To model a requirement where more than one person can be joint owners on a Financial Account, the Admin can map additional owners using the Financial Account Role. The Financial Account Role is a junction object that links a contact or an individual to a financial account and defines their role or relationship with that account. By using Financial Account Role, the Admin can addmultiple owners to a Financial Account and specify their ownership percentage, primary status, and other details.

A gap analysis is a key step in identifying different business processes and outlining encompassing system flows based on the existing environment when setting up Salesforce Financial Services Cloud (FSC). A gap analysis is a method of comparing the current state of a system or process with the desired future state and identifying the gaps or differences between them. By conducting a gap analysis, a consultant can understand the customer’s painpoints, requirements,and expectations and design a solution that leverages the best practices and features of Salesforce FSC.

To meet the requirements of sharing special deposit products for employees, the administrator should create a Financial Account sharing rule based on criteria. A Financial Account sharing rule is a sharing rule that grants access to financial account records based on record owner or field values. A sharing rule based on criteria is a type of sharing rule that grants access to records that meet certain criteria. By creating a Financial Account sharing rule based on criteria, the administrator can share the special deposit products with the customer service employees within a specific group basedon a field value that indicates the product type.

The following functions should be added to the Delegated Administrator group for its franchise users:

Unlock users, which is a function that allows delegated administrators to unlock users who have been locked out due to incorrect login attempts or password expiration.

Assign or remove permission sets for users in their delegated groups, which is a function that allows delegated administrators to grant or revoke additional permissions for users in their delegated groups by using permission sets.

Create and manage membership of specified public groups, which is a function that allows delegated administrators to create public groups for sharing purposes and add or remove users from those groups. 

Hank can see Action Plan Tasks in two places:

Onthe related list of the Account page layout, where he can view all the tasks associated with an account and their status, due date, owner, and priority4.

On the standard Salesforce task list, where he can view all thetasks assigned to him across different accounts and filter them by various criteria.

 The following steps are required to disable Person Accounts and use the Individual object model in Financial Services Cloud:

Log a case with Salesforce to perform the conversion from Person Accounts to the individual model. You need to contact Salesforce Support to request the conversion from Person Accounts to the individual model. This is an irreversible process that affects your data model and user interface. You should carefully evaluate your business needs and test the functionality in a sandbox or developer org before requesting the conversion in production.

Remove Person Account record types from the Individual Record Type Mapper. You need to remove any Person Account record types that are mappedto Individual record types in the Individual Record Type Mapper. This is a custom setting that defines how records are created when using certain features, such as Einstein Data Capture or Salesforce Inbox. You can access this setting by going to Setup >Financial Services Settings > Individual Record Type Mapper.

Assign the Individual record type to the user profiles. You need to assign the Individual record type to the user profiles that need to create or access Individual records. The Individual recordtype is a standard record type on the Account object that represents an individual person who is not directly related to your business, such as a prospect, influencer, or household member. You can assign record types by going to Setup > Profiles > Object Settings > Accounts > Record Types. Verified References: : Salesforce Help Article 5 : Salesforce Help Article 6 : Salesforce Help Article 7

To configure a custom field for reporting when relating two business accounts to each other, the administrator should configure the custom field on the Account-Account Relationship object. The Account-Account Relationship object is acustom object in Financial Services Cloud that allows you to create and manage relationships between two accounts, such as Household Member, Business Owner, Trustee, or Friend. You can use the Account-Account Relationship object to store additional information about the relationship between two accounts, such as role, start date, end date, or status. You can also use the Account-Account Relationship object to report on the account-account relationships and analyze their impact on your business. Verified References: : Salesforce Help Article [4] : Salesforce Help Article [5]

To modify a published Action Plan to support an additional task, Jen should use the Action Planitem feature to add an additional task to the published Action Plan. An Action Plan item is a construct in Financial Services Cloud that allows you to add, edit, or delete tasks in an existing Action Plan. You can use Action Plan items to customize your Action Plans according to your specific needs and preferences. Verified References: : Salesforce Help Article 1

The following standard Insurance Platform components can digitally enable the core insurance operations of getting an insurance quote or submitting a claim:

Policy Administration, which is a component that allows users to manage the lifecycle of insurance policies, such as creating, renewing, canceling, or endorsing policies. By using Policy Administration, the consulting firm can enable customers to view and update their policy information online.

Claims Management, which is acomponent that allows users to manage the lifecycle of insurance claims, such as creating, investigating, adjusting, or settling claims. By using Claims Management, the consulting firm can enable customers to submit and track their claims online.

Quote, Rate, and Apply, which is a component that allows users to create and compare insurance quotes, calculate premiums and discounts, and apply for policies online. By usingQuote, Rate, and Apply, the consulting firm can enable customers to get an insurance quote online

The following insurance processes are managed by the PolicyAdministration component:

Payments: Payments are the amounts that a policyholder pays to an insurance company for a policy or a claim. You can use the Policy Administration component to manage the payment schedules, methods, and statuses for your policiesand claims. You can also use the Policy Administration component to integrate with external payment systems and track the payment transactions and balances for your policies and claims.

Approvals: Approvals are the processes that an insurance company follows to review and authorize a policy or a claim. You can use the Policy Administration component to configure and automate the approval workflows, rules, and criteria for your policies and claims. You can also use the Policy Administration component to assign approvers, send notifications, and monitor the approval statuses and histories for your policies and claims.

Endorsements: Endorsements are the changes or modifications that a policyholder requests or an insurance company makes to a policy. You can usethe Policy Administration component to manage the endorsement requests, types, and statuses for your policies. You can also use the Policy Administration component to update the policy details, coverages, premiums, or terms based on the endorsements for your policies. Verified References: : Salesforce Help Article [9] : Salesforce Help Article [10] : Salesforce Help Article [11]

The following statements about Action Plans are true:

When you work with Action Plans, you first create Action Plan Templates, which are reusable sets of tasksthat define a common clientprocess1.

Action Plans make it easy to create reports and dashboards, so you can monitor progress and ensure compliance. Users can use standard report types or custom report types to create reports on action plans, action plan templates, action plan items, action plan item templates, and action plan item owners1.

Action Plans can be used to automatically assign task owners and deadlines for specific client engagements. Users can specify task owners by using assignment logic such as specific user, role, queue, action plancreator, or account team1. Verified References: 1

Group Membership is a construct in Financial Services Cloud that allows you to define the relationship between a group and its members. You can use Group Membership to specify the following information:

The role of the member within the group, such as Owner, Beneficiary, Trustee, etc.

Whether the group is the primary group for the member, which affects how financial data is rolled up and displayed. Verified References: : Salesforce Financial Services Cloud User Guide, page 38.

The following are the building blocks of Flow Orchestration:

Steps: Steps are discrete units of work that can be performed by a user or a system within a flow orchestration. Steps can have different types,such as user input steps, system action steps, decision steps, or subflow steps. Steps can also have different attributes, such as name, description, icon, input variables, output variables, or preconditions.

Stages: Stages are logical groupings of stepsthat represent phases or milestones within a flow orchestration. Stages can have different attributes, such as name, description, icon, entry criteria, exit criteria, or completion actions.

Work Items: Work Items are instances of flow orchestrations that track the progress and status of each execution. Work Items can have different attributes, such as name, description, owner, assignee, due date, priority, status, stage history, or step history. Verified References: : Salesforce Help Article [7] : Salesforce Help Article [8] : Salesforce Help Article [9]

If a client is associated with more than one Household or Group, their records will get rolled up to the household selected by the advisor for record rollups. A Household or Group is a construct in Financial Services Cloud thatallows you to group related accounts together and view their aggregated financial data and activities. A client can belong to multiple Households or Groups, but only one of them can be selected as their primary Group for record rollups. The primary Groupdetermines which Household or Group will display the client’s records in its summary components or related lists. The advisor can select or change the primary Group for a client using the Primary Group field on the client’s record page. Verified References: : Salesforce Help Article 6

The Financial Services Cloud featurethat 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.

Discovery Framework is a scalableassessment framework that financial institutions use to gather and evaluate customer information through digital and human channels. Some of the things to consider regarding Discovery Framework are:

Discovery Framework creates highly capable forms with integrations and advanced logic. The forms can be customized with various types of questions, validations, calculations, branching, andintegrations with external systems1.

Discovery Framework can create both standard and hierarchical questions. Standard questions are single-level questions that can be grouped into sections. Hierarchical questions are multi-level questions that can have subquestions based on the answer to the parent question2.

FSC Discovery Framework allows archiving questions. Archiving a question removes it from the active question pool and prevents it from being added to new forms. Archived questions can be restored if needed3.

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 aclient 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.

The following steps should be taken by the administrator to configure Financial Services Cloud correctly based on the scenario:

Assign the record typeto users. You need to assign the new record type to the user profiles or permission sets that need to create or access referrals of that type. You can assign record types by going to Setup > Profiles > Object Settings > Leads > Record Types or Setup > Permission Sets > Object Settings > Leads > Record Types.

Create a new record type Referral’ on the Lead object. You need to create a new record type on the Lead object and name it Referral. You can use this record type to distinguish referrals from other types of leads and apply different page layouts, business processes, or validation rules for referrals.

Update the lead page layout. You need to update the page layout for the Referral record type and add or remove fields according to the requirements. You canalso make some fields required or read-only on the page layout level. You can edit page layouts by going to Setup > Object Manager > Lead > Page Layouts. Verified References: : Salesforce Help Article 3 : Salesforce Help Article [4] : Salesforce Help Article [5]

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.

Rollup By Lookup (RBL) is a feature in Financial Services Cloud that allows you to display summary calculations of financial account information, such as balances, market values, and cost bases. You can use RBL to roll up financial data to all joint owners’ primary households by doing the following:

Create custom RBL rules to rollup the joint owner balances using the Joint Owner field on the Financial Account object.

Enable RBL rules that rollup balances using Financial Account Role for joint owners using the Account Role field on the Account Contact Relationship object. Verified References: : Salesforce Financial Services Cloud Implementation Guide, page 75.

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 following Permission Set Licenses give users access to Financial Services Cloud features:

Financial Services Cloud Standard: 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)1.

Action Plans: This license enables user access to the Action Plansfeature, which 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 executed2.

FSC Insurance: This license enables user access to the Insurance feature, whichallows users to manage insurance policies and claims for clients. This license also provides access to some Insurance objects such as Policy, Claim, Coverage Type, Policy Product, Policy Product Offering. Verified References: 12

The following limitations should be considered before enabling Person Accounts in Financial Services Cloud:

Person Accounts cannot be disabled once they were enabled. Enabling Person Accounts is an irreversible action that affects your data model and user interface. You should carefully evaluate your business needs and test the functionality in a sandbox or developer org before enabling it in production.

Creating a client record via Salesforce Inbox is not supported. Salesforce Inbox is a feature that allows you to access Salesforce data and actions from your email application. However, you cannot use Salesforce Inbox tocreate a client record as a Person Account. You can only create a client record as an Individual Model record using Salesforce Inbox. Verified References: : Salesforce Help Article 4 : Salesforce Help Article 5

The System Admin can use the following Lead features for Intelligent Need-Based Referrals:

Lead Routing, which is a feature that allows users to distribute leads to the right users or queuesbased on criteria such as lead source, industry, or product interest.

Lead Assignment Rules, which are rules that specify how to assign leads to users or queues when they are created manually, captured from the web, or imported via Data Import Wizard.

Einstein Lead Scoring, which is a feature that uses artificial intelligence to analyze historical data and predict how likely a lead is to convert. Einstein Lead Scoring assigns a score and an insight to each lead, which can help users prioritize and follow upon the most promising leads.

The following OmniStudio tools should be recommended to generate the prefilled PDF:

OmniStudio Action Document Generation, which is a tool thatallows users to create documents from templates and data sources using OmniScripts and Integration Procedures. Byusing OmniStudio Action Document Generation, the consultant can create a document template with placeholders for the contact and address information and generate a PDF file from it using an OmniScript.

DataRaptor, which is a tool that allows users to extract and transform data from Salesforce or external systems using Integration Procedures. By using DataRaptor, the consultant can create a datasource that retrieves the contact and address information from Salesforce and maps it to the document template placeholders.

To ensure the correct profiles and permissions for an API integration between Salesforce and a risk control system, the consultant should do the following steps:

Create a dedicatedIntegration User that will be used to authenticate and authorize the API calls between Salesforce and the risk control system. The Integration User should have a unique username, password, and security token that are not shared with other users or systems.The Integration User should also have the minimum permissions and access settings required to perform the integration tasks.

Create a new custom profile and ensure API Only is selected. The API Only option restricts the user from logging in to the Salesforce user interface, but allows the user to access the Salesforce API. The custom profile should also have the appropriate object permissions, field-level security, record types, page layouts, and other settings that are relevant for the integration. The custom profile should be assigned to the Integration User.

 The following considerations should be included when configuring the report with branch management reportable objects:

Bankers with Branches with Opportunities, Accounts, Leads, and Contacts report types are available for creating reports with Branch Unit Related Records. These are standard report types that allow users to create reports that show data from Banker,Branch Unit, Opportunity, Account, Lead, Contact, and Branch Unit Related Record objects.

The reportable objects include Banker, Branch Unit, Branch Unit Related Records, and Branch Unit Customer. These are custom objects that are part of the branch management feature in Financial Services Cloud. Banker is an object that represents a banker or an employee who works at a branch unit. Branch Unit is an object that represents a physical location where bankers provide services to customers. Branch Unit RelatedRecord is an object that represents a record that is related to a branch unit, such as an opportunity, an account, alead, or a contact. Branch Unit Customer is an object that represents a customer who has a relationship with a branch unit.

When Branch Unit is the primary object, the administrator can select Branch Unit Customers or Branch Unit Related Records as related objects. This means that the administrator can create reports that show data from Branch Unit and its related objects by using lookup fields or junction objects

To update an existing, published Action Plan Template, the Admin should clone the existing Action Plan Template and make any necessary changes on the new Action Plan Template. Thisis because published Action PlanTemplates cannot be edited directly or set to inactive4. Cloning an Action Plan Template creates a copy of it with a new name and ID, which can then be modified and published4.Verified References: 4

Interest Tags are a feature of Financial Services Cloud that let users add custom tags to client records to capture client needs, interests, and prospecting opportunities. Some of the things to consider when configuring a report to show Interest Tags are:

When the user defines the custom report type, Topics should be selected as the Primary Object. Topics is the standard Salesforce object that stores the Interest Tags data4. The user can then add other objects as secondary objects, such as Accounts, Contacts,or Opportunities.

To show Interest Tags applied to specific objects, the user can add a filter in the report and select the object name. For example, to show only Interest Tags related to Accounts, the user can add a filter for Entity Type equals Account5.

The Salesforce feature that should be used for the digital onboarding process is Flows. Flows are a tool that can automate business processes and guide users or customers through screens that collect and display information. Flows can have multiple steps and branching logic that ask for different information depending on the responses. Flows can also integrate with existing data and prefillfields with information that the bank already has on file, reducing the need to ask the customer for redundant information. Flows can be embedded in Lightning pages, Experience Cloud sites, mobile apps, or websites to provide a seamless and engaging digital onboarding experience. Verified References: : Salesforce Help Article 1 : Salesforce Help Article 2

To design the future state business process using FSC features, the administrator should create an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months when an account status is changed to “Customer”. An action plan is a feature that allows users to create templates for common client processes, such as account opening, loan application, or financial review. An action plan template consists of action plan items that define the tasks, subtasks, and deadlines for each step of the process. By creating an action plan with tasks to follow up in 2 days, 2 weeks, and 2 months when an account status is changed to “Customer”, the administrator can automate the email reminder process and track and report on the progress in FSC

The order of uploading Salesforce objects during an FSC data migration is important to ensure data integrity and avoid errors. The recommended order is:

Accounts and contacts: These are the coreobjects that store the basic information about the customers and their relationships. They should be uploaded first to establish the foundationfor the FSC data model4.

Financial accounts: These are the custom objects that store the financial information about the customers, such as balances, interest rates, fees, and transactions. They should be uploaded after the accounts and contacts, and linked to them using lookupfields5.

Account groups and households: These are the custom objects that group the accountsand contacts based on common attributes or relationships, such as family members or business partners. They should be uploaded after the financial accounts, and linked to them using junction objects6.

To grant restricted accessto 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 FinancialServices 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 things must be kept in mind when creating Action Plan Templates:

When creating Action Plan Templates with the UI, you can designate a plan owner different from the plan creator. The plan owner is the userwho is responsible for executing the tasks in the Action Plan. The plan creator is the user who creates the Action Plan Template or the Action Plan from the template. You can assign a different plan owner for each Action Plan Template or Action Plan.

An Action Plan is a run-time instance of the template that allows you to automate the sequence of the tasks you defined in the template. An Action Plan Template is a reusable blueprint that defines the tasks, owners, and deadlines for a common business processor service request. An Action Plan is a specific implementation of the template that applies to a particular target record, such as an account, contact, or opportunity.

When you create an Action Plan from a template for a specific target record, item deadlines are calculated using the start date and date offset defined in the Action Plan Template. The start dateis the date when you create the Action Plan from the template. The date offset is the number of days before or after the start date when each taskis due. You can specify different date offsets for each task in the template. Verified References: : Salesforce Help Article 2 : Salesforce Help Article 3 : Salesforce Help Article 4

To give users access to the Financial Services Cloud Commercial Banking features, such as Commercial Banking Console Lightning app, Referrals List component, and Treasury Services object, the Admin needs to assign permission sets to the users. Permission setsare collections of settings and permissions that give users access to various tools and functions4. The Admin can use the following permission sets to enable Commercial Banking features for the users4:

FSC Commercial Banking Console User: This permission set givesusers access to the Commercial Banking Console Lightning app, which is a custom app that provides a unified view of commercial banking clients and their financial needs4.

FSC Commercial Banking Referrals User: This permission set gives users access to the Referrals List component, which is a Lightning component that displays a list of referrals related to a business account4.

FSC Commercial Banking Treasury Services User: This permission set gives users access to the Treasury Services object, which is a custom object that represents a treasury service product or offering that a commercial banking client uses or is interested in4. Verified References: 4

My Domain is a feature in Salesforce that allows you to create a subdomain for your org. You need to enable My Domain to access Financial ServicesCloud Lightning Components, such as Actionable Relationship Center, Relationship Map, Life Events & Business Milestones, etc. To enable My Domain, you need to do the following:

Register a subdomain using the My Domain wizard in Setup > My Domain.

Deploy itto your users after testing it in your sandbox or developer org. Verified References: : Salesforce Help Article [7]

To add custom icons to the Life Events and Business Milestones, you need to upload them as static resources in Setup > Custom Code > Static Resources. You also need to update the Icon Name field on the Life Event and Business Milestone objects to match the name of the static resource. Verified References: : Salesforce Financial Services Cloud Implementation Guide, page 58.

Again, Action Plans are a feature that can help users track and manage common client processes. For a commercial loan due diligence process, users can create an Action Plan Template with tasks such as verifying income, checking credit history, appraising collateral, etc. Users can also assign different task owners and deadlines for each task to distribute the work and monitor the progress. Users can also use dashboards and reports to view the % completion of the due diligence process per client and report on the performance of the department to show possible bottlenecks.

The Admin can change the color of important life events to red by using custom CSS in aLightning App Builder theme layout component. This way, the agents can quickly scan the Life Events component and find the information they need without much effort. The color red can draw attention and indicate urgency or importance for certain life events.

Rollup By Lookup (RBL) summaries are available for the following objects:

Financial Accounts, which are records that represent financial products or services that a client owns or uses1.

Assets and Liabilities, which are records thatrepresent the value of what a client owns or owes1.

Contacts, which are records that represent individuals who are associated with an account3.

 The following actions regarding functionality and features should be suggested to help guide Cumulus Insurance users through their complex business processes:

Configure Dynamic Actions for Lightning pages. Dynamic Actions are a feature that allows you to customize the actions that appear on a Lightning page based on criteria such as record type, field value,device type, or user profile. You can use Dynamic Actions to show or hide actions that are relevant or irrelevant for each stage of the business process, such as creating a case, sending an email, or generating a quote.

Enable In-App Guidance to providewalk-throughs. In-App Guidance is a feature that allows you to create prompts and guided tours that appear within the Salesforce app to help users learn new features, complete tasks, or adopt best practices. You can use In-App Guidance to provide step-by-step guidance for complex business processes, such as onboarding a customer, submitting a claim, or renewing a policy.

Use flows to remove the need for complex Lightning pages. Flows are a tool that allows you to automate business processes and guide usersor customers through screens that collect and display information. Flows can have multiple steps and branching logic that ask for different information depending on the responses. You can use flows to simplify and streamline complex business processes, such as applying for a loan, enrolling in a plan, or changing a beneficiary. Verified References: : Salesforce Help Article [12] : Salesforce Help Article [13] : Salesforce Help Article [14]

To integrate with an external system, Salesforce needs to have objects and fields that can store the data that will be sent from the external system via an API. These objects and fields should match the data structure and format of the external system as much as possible. Additionally, Salesforce needs to have an integration user and anintegration profile that can enable the connection between Salesforce and the external system. The integration user is a dedicateduser account that has access to the API and can perform data operations on behalf of other users. The integration profile is a custom profile that defines the permissions and settings for the integration user.

 In an existing Financial Services Cloud org using the individual account model, custom objects are used to represent other assets, liabilities, and goals. These objects are related to the Account object via lookuprelationships. For example:

The Other Asset object is used to represent non-financial assets owned by an account holder, such as real estate properties, vehicles, or jewelry.

The Other Liability object is used to represent non-financial liabilities owed byan account holder, such as mortgages, loans, or taxes.

The Financial Goal object is used to represent financial objectives pursued by an account holder, such as retirement planning, education funding, or debt reduction. Verified References: : Salesforce Help Article [10] : Salesforce Help Article [11] : Salesforce Help Article [12]