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Populate Account picklist from another another Account object

Is it possible to create a picklist under Accounts whose values come dynamically from another Account field? The field I would pull from would be the Account Record Type although I would need to use use a formula to filter out some values.


here you can create self lookup relationship and while creating lookup fields you can set lookup filter criteria.


For Picklist you need to create a VFPage its can not be achieved normally.