Create Object Relationships

Learning Objectives

After completing this unit, you’ll be able to:

  • Describe a group.
  • View a person and their group.
  • Create a group and add members.
  • Customize a group.

What’s a Group?

A group is a set of people with common financial interests. The financial accounts of each member of a group are rolled up together. These finances can then be viewed and managed as a unit.

Household is a custom group record type shipped with Financial Services Cloud to manage the members of a household, such as spouses and their dependent children. In addition to people within a group, you can connect group members to external contacts. For instance, you can tie Rachel Adams to her lawyer.

Like a real-life household, groups are flexible. You can customize them as needed. You can create groups, such as a group of customers that is billed quarterly and a group that is billed monthly.

Here’s a video to help visualize groups.

Examples of Household Groups

Let’s look at the household of our favorite client, Rachel Adams. Like many of us, Rachel Adams belongs to two households.
  • The Adams household where she lives with her spouse, Nigel Adams. As she’s the client, she’s listed as the primary member of that household. This household is also her primary group.
  • The Symonds household. This household belongs to her parents, but she manages the finances for them. She’s considered the beneficiary of this household.
  • In addition, her household has a related account, her trust, the Adams Charitable Trust, and a related contact, her lawyer, Ivan M. Kohl.

The Client Relationship Map showing Rachel Adams’s relationships. Lines connect Rachel Adams to the Adams Household, the Symonds Household, Related Accounts, and Related Contacts.

You’ve seen Rachel’s relationships. Now, let’s step through her primary household, the Adams family.
  1. Open the App Launcher (App Launcher icon).
  2. Search for and select Wealth Management.
  3. Click the Accounts tab.
  4. Switch to the All Accounts view.
  5. Click the Adams Household account record.
Just like Rachel Adams’s account, the Adams household has detailed information, financial accounts, relationships, and goals. These values are rolled up from every member of the household. In this case, it contains data from Rachel Adams and her spouse, Nigel Adams. The Financial Accounts view lists all Rachel’s and Nigel’s accounts, including:
  • Investment accounts
  • Brokerage accounts
  • Bank accounts
  • Insurance policies
  • Assets and liabilities

Adams Household displaying in the Financial Accounts tab. This tab lists the Financial Summary, Investments Accounts, and Bank Accounts

Creating a Group

For the Rachel Adams household, everything is already set up. Let’s create a brand-new household for Vivian Torres, the client we created earlier.
  1. Open the App Launcher (App Launcher icon)
  2. Search for and select Wealth Management.
  3. From the Accounts tab, click +New Account.
  4. Select Household as the record type and click Next.
  5. Enter Vivian Torres Household as the Account Name and click Save.
The Vivian Torres Household is now created. Let’s add members and relationships to fill it out.
  1. Click the Accounts tab.
  2. Select Vivian Torres Household.
  3. Click the Relationships tab.
  4. Under Vivian Torres Household, click Add Relationship.
  5. Add Vivian Torres as the client and the primary member of the group.
  6. Set this household as Vivian’s primary group and select All to have all her accounts and activities roll up. Edit Vivian Torres Household dialog. Member name: Vivian Torres; Role in Group: Client; Activities and Objects to Roll Up: All; Primary Member: Enabled; Primary Group: Enabled.
  7. Click Save.

Now we have a basic household, but it only has one member. If Vivian were single and lived alone, you’d be finished, but she doesn’t live alone.

Adding a New Member to a Group

Vivian’s teenage sister, Lucy Torres, also lives with her. Let’s add Lucy to the Vivian Torres household.
  1. In the Accounts view for the Vivian Torres Household, click Relationships.
  2. Under Vivian Torres Household, click + Add Relationship.
  3. Under Who are the Members of This Group, click +Add Row.
  4. Click the Search Accounts field.
  5. Since Lucy Torres is a new client, click + New Account.
  6. In the New Account window, choose Person Account and click Next.
  7. Enter Lucy’s first and last name and click Save.
  8. Back on the Edit Vivian Torres Household page, set Lucy’s Role in Group as Beneficiary and set this group as her Primary Group.
  9. Click Save.

Now we have a basic household group with two members. A group can have as many members as required, and you can always add new ones.

But groups sometimes have relationships with people who don’t live in the same household. For example, Vivian Torres has a lawyer in her household named Ivan M. Kohl. She works as his bodyguard. Ivan is related to the Vivian Torres Household via a Contact-Contact Relationship, with the reciprocal role describing his relationship to Vivian Torres. He’s the client, and Vivian is the bodyguard.

Financial Services Cloud provides several reciprocal roles, including lawyer/client, accountant/client, parent/dependent, business/proprietor, and more. If those roles don’t cover your business needs, it’s easy to add new roles.

Create a Contact-Contact Relationship with a Reciprocal Role

Vivian Torres works for Ivan M. Kohl as his bodyguard. Their relationship is bodyguard/client, and we create it from Vivian’s perspective.
  1. On the the Vivian Torres Household account page, click the Relationships tab.
  2. In Related Contacts component, click + Add Contact. The Contact field is already filled in (Vivian Torres).
  3. Click Related Contact and choose Ivan M Kohl.
  4. Click in Related Role. If you chose a standard role, like lawyer, you could select it and be finished. Because we’re creating a role, there’s a little more to be done.
  5. In Related Role field, click + New Reciprocal Role.
  6. Select Contact Role and click Next.
  7. Enter the appropriate values. The Role is Client and the Inverse Role is Bodyguard.
  8. Click Save.

Ivan M. Kohl is now listed on Vivian Torres’s Relationship tab as her client. If you scroll down to the Vivian Torres Household, Ivan M. Kohl is listed under Related Contacts. Likewise, if you click Ivan M. Kohl and scroll down, Vivian Torres is listed as his bodyguard.

Customize a Group

Just as you customized a person account, you can also customize a group by setting up a custom record type. A custom record type can help you control what data is displayed or how it’s displayed while retaining the group’s membership and rollup functionality.

Matt’s a busy guy. Today he received a request to create a billing group. Members in the billing group belong to their own household groups, but now they also belong to a billing group. The billing group displays with different contexts, fields, and formats.

How do you set that up?

First, create a record type for a group to represent the billing group. Use the same procedure as when you created a custom record type for a person account.
  1. Click Setup | Click Setup | Click the Object Manager tab.
  2. Click Account and then click Record Types.
  3. Click New.
  4. From the Existing Record Type picklist, choose Master.
  5. In Record Type Label, enter Billing Group.
  6. The Record Type Name is Billing_Group. If you’d like, add a brief description.
  7. To activate the record type, select Active.
  8. Enable this change for the System Administrator and Advisor Profiles.
  9. Click Next.
  10. Select Apply one layout to all profiles.
  11. Choose your page layout. For this example, choose Account (Household) Layout from the picklist.
  12. Click Save.
Next, map the Billing Group record type in the Group Record Type Mapper.
  1. Click Setup and then select Setup.
  2. In the Quick Find box, enter meta, then select Custom Metadata Types.
  3. Next to Group Record Type Mapper, click Manage Records.
  4. Click New.
  5. Complete the following information for the record type mapper.
    1. Enter the label for your custom record type mapper: Billing Group.
    2. For Account Record Type, enter Billing_Group.
  6. Click Save.

You’ve created households and added new members and customized them. Next, let’s see how those households connect to financial accounts and other specialized Financial Services objects.

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