What is a "Financial Goal" in Financial Services Cloud?

A financial goal in the context of Financial Services Cloud refers to a specific target that clients set for their savings, investments, or other financial objectives. This definition emphasizes the personalized nature of financial goals, as they represent individual aspirations and milestones that clients aim to achieve in their financial journeys. These goals could range from saving for retirement, purchasing a home, funding educational expenses, or planning for a vacation.

By focusing on clearly defined targets, financial goals help both the clients and their advisors to create tailored strategies and action plans. The specificity of these goals makes it easier for clients to measure progress and for advisors to provide relevant guidance and recommendations aligned with the clients' unique financial situations and timelines.

In contrast, generic suggestions from advisors may lack this personalized touch and may not resonate with clients' specific needs or desires, while average returns on investments and minimum account maintenance amounts do not capture the essence of a client's personal financial ambitions.