A Lightning Record page component that comes with Financial Services Cloud is the Life Events and Milestones component. It helps provide an overview of a person’s professional or personal milestones (think births, home moves, and life-changing surgery). For businesses, it shows their key business milestones (think incorporation, executive changes, and floating on the stock exchange).
Advisors may deal with hundreds of customers and therefore keeping tabs on an individual customer’s situation can prove difficult. This feature captures that information so that the Advisor can maintain a trusted, empathetic, and knowledgeable relationship with their customer.
To see the Life Events and Business Milestones component, the related lists Person Life Events and Business Milestones must be added to the related list section on the page layout for Person Accounts and Business Accounts respectively. Then go to the Lightning Record Page for Accounts, and drag the component onto the canvas. (Don’t forget to save).
There are a number of Life Events and Milestones set up out of the box, and additional types can be added to the Milestone Type picklist on Business Milestones and the Event Type picklist on Person Life Events. Values can be added, activated, and deactivated from here. Where a milestone or event is likely to be once in a lifetime or event, select “Unique”.
It is even possible to edit the icons that you view for the existing or new event or milestone type.
When a user hovers over an event or milestone, an expanded lookup card appears displaying key fields from the Person Life Event or Business Milestone object’s primary compact layouts.
From this hover, you can create new Action Plans, Cases, Opportunities, etc. that relate to this event or milestone.
The Advisor can then create an Opportunity or a New Lead & Referral for products and services based on that event or milestone.
Not all life events or business milestones apply to every customer and it may not be appropriate to ask for them during discovery conversations. Such events and milestones can be created and then hidden so that they can be added if the information is made known. This can be done by editing the Lightning Record Page. Click on the Life Events or Business Milestones to select it. Then click select under each Event Type or Milestone Type that you wish to hide.
Two other useful bits of information:
- It is also possible to expire Life Events or Milestones. Your customer may have purchased a house and now had to relocate. They sell the house and therefore it is no longer relevant to any conversations.
- The Life Events and Business Milestone component is supported on both desktop and mobile so that an advisor can capture details about an event or milestone on the go.
To read more in our Financial Service Cloud Series: