Definition
In Salesforce Financial Services Cloud, a grouping mechanism that associates multiple accounts and contacts into a household or business group, providing a unified view of related financial relationships.
Real-World Example
At their company, a sales rep at Pinnacle Corp leverages Relationship Group to manage and organize customer data more effectively. They configure Relationship Group to ensure the sales and service teams have a unified view of every customer interaction, from initial contact through ongoing support. This setup reduces duplicate data entry and improves cross-team collaboration.
Why Relationship Group Matters
In Salesforce Financial Services Cloud, a Relationship Group is a grouping mechanism that associates multiple accounts and contacts into a household or business group, providing a unified view of related financial relationships. Households commonly include family members with interrelated financial accounts; business groups include related corporate entities.
Relationship groups are foundational to financial services because wealth management requires thinking at the household level, not just per-account. A client isn't just their own investment account; they're part of a financial ecosystem with spouses, children, family trusts, and other related parties. Financial Services Cloud's relationship groups model this reality, supporting the household-level analytics and advisor workflows that financial services requires.
How Organizations Use Relationship Group
- •Redwood Financial — Uses relationship groups to model households of wealth management clients with interrelated accounts.
- •Cobalt Ventures Wealth — Reports on household-level assets under management using relationship group aggregations.
- •BrightEdge Solutions — Treats relationship groups as foundational to serving financial services clients correctly.