[NEW POST ALERT] 😱 That's right ladies and gentleman, I've published a new #AdminHero blog post and it's all about Financial Services Cloud! You can read it here:
https://www.adminhero.com/getting-started-with-financial-services-cloud/
@Cari Aves - Thank you for bubbling this up, and also for your responses above!
@Scott Eng - @Cari Avesis spot on! Business accounts and contacts can coexist with Person Accounts in the same org. We've had customers implement FSC with Wealth Management, Retail Banking and Institutional Banking, all in the same org with FSC. Using Person Accounts to model the B2C clients, and Accounts (Groups)+ Person Accounts to model B2B customers and their key stakeholders, they can still leverage the Relationships capabilities for B2B!
You could still use the Individual model (Account/Contact) to do the same things, but the downside is that you get limited capabilities as compared to Person Accounts in FSC. As Cari said, it isn't always possible to make every standard feature work 100% with the Individual model. I've attached a document that compares the capabilities in more depth on slides 3-5. For example, you can chatter follow the Individual, but it takes two steps (instead of 1 with Person Accounts), and you get 2 records in Mobile (instead of 1 with Person Accounts). Check the deck out - these details will also be available in the table in the Admin Guide next week.