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Wealth Management Firm Increases AUM 35% with Financial Services Cloud
A boutique wealth management firm in Manhattan managed $450M in assets but struggled to track client portfolios across multiple custodians and provide personalized service at scale.
35%
Assets Under Management
81%
Review Prep Time
98%
Client Retention
✓ Delivered on time
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About
Company
Industry: Wealth Management & Financial Advisory
Location: New York, NY (Manhattan)
Size: 12 advisors, $450M AUM, 350 high-net-worth clients
Challenge: The firm used:
- Separate CRM for contact management
- Portfolio management software (Black Diamond)
- Financial planning tool (MoneyGuidePro)
- Excel for goal tracking and notes
Advisors spent 40% of their time switching between systems instead of talking to clients.
Project
Challenge
Pain points included:
- No Household View: Couldn't see complete household financial picture (client + spouse + trusts + entities)
- Manual Processes: Quarterly reviews required 3-4 hours of prep per client
- Compliance Risk: Client notes scattered across systems, audit trail incomplete
- Limited Personalization: Mass emails not tailored to client goals or portfolio performance
- Slow Onboarding: New clients took 4-6 weeks to onboard with full data entry
Solutions
Solutions
Cloudy Coders implemented Financial Services Cloud:
- Household Data Model: Complete view of family relationships, accounts, goals, and assets
- Financial Accounts: Automated sync with custodians (Schwab, Fidelity, Pershing) via APIs
- Goal Tracking: Client goals (retirement, education, legacy) tracked with progress dashboards
- Action Plans: Automated task lists for advisors (annual reviews, tax planning, rebalancing)
- Einstein Analytics: Portfolio performance dashboards, client segmentation, and referral tracking
- Compliance: Complete audit trail, SEC-compliant record keeping, automated archiving
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Measurable impact
Results — by the numbers
Assets Under Management
35%
Increased by 35%
Review Prep Time
81%
Reduced by 81%
Client Retention
98%
Increased to 98%
After 6 months:
- Assets under management (AUM) grew from $450M to $608M (35% increase)
- Client acquisition cost decreased 45% (better referral tracking)
- Quarterly review prep time reduced from 4 hours to 45 minutes
- Advisor productivity increased 60% (more client-facing time)
- Client retention rate increased from 92% to 98%
- Net Promoter Score (NPS) increased from 45 to 72
- Passed SEC audit with zero findings (was 3 findings previous year)
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