Definition
In Salesforce Financial Services Cloud, an individual account or contact record that belongs to a relationship group (household), with attributes defining their role and relationship within the group.
Real-World Example
When a business analyst at Clearwater Inc. needs to streamline operations, they turn to Relationship Group Member to improve how the organization tracks relationships and interactions. By setting up Relationship Group Member properly, the team gains better visibility into their customer base, which leads to more informed decisions and stronger customer relationships across the board.
Why Relationship Group Member Matters
In Salesforce Financial Services Cloud, a Relationship Group Member is an individual account or contact record that belongs to a relationship group (household), with attributes defining their role and relationship within the group. Members have roles like Primary, Spouse, Child, Parent, Business Partner, or custom roles that match the firm's needs.
Tracking relationship group membership with roles provides the granular detail needed for household-level analytics and personalized service. Different roles have different meanings for wealth management: the primary account holder often drives decisions, spouses may have shared goals, children might have trust accounts, and so on. Mature financial services deployments use relationship group members as the building blocks of household wealth management.
How Organizations Use Relationship Group Member
- •Redwood Financial — Configures relationship group member roles to match their wealth advisory model.
- •Cobalt Ventures Wealth — Reports on decision maker relationships through primary member designations.
- •Coastal Financial — Uses relationship group members for personalized communication based on role within the household.