Pombriant called the announcement significant, pointing out that it is the first concrete demonstration that the SaaS platform is real and that the so-called long tail of SaaS is not just about smaller applications or applets.

"We are talking about a big sophisticated application that companies typically built in-house because they couldn't find the expertise from vendors," Pombriant said.

Salesforce will continue to roll out additional solutions for the financial services industry, including a Banking Edition, Capital Markets, Insurance, and Mortgage editions, Collins said.

The Wealth Management Edition will be priced at US$500 per user, per month and will be available in the third quarter.