The magic of financial text archiving – A guide for wealth managers to level-up their client engagement

Due to compliance with Securities and Exchange Commission (SEC) and  Financial Industry Regulatory Authority (FINRA)’s text archiving requirements, many wealth managers who capture and record mobile SMS they generate and collect on a daily basis  cite strict industry and legal requirements and often misses out how such platform is meant not to limit their potential, but rather boost their relationship with their clients and create new avenues for revenue generation.

To create a better overall experience for the client with the company, wealth management firms must create strategies that will make text messaging an effective tool to enable both the advisors and clients to make better decisions and deliver and access tailored services, even while focusing on mobile archiving compliance.

There are four most important aspects that every wealth manager should strategically use and take into account improve the engagement of their present and potential clients with their text messages.

  1. Self-service – having the clients actively engaged by means of initiating conversations with the wealth managers, such as using two-way SMS or USSD text applications, we can assure that our clients would feel that “human touch” that adds to the comfort of having their convenience in using the system.
  2. Capture Once, Use Many – by archiving information that the clients already provided, we can eliminate the hefty processes that could potentially hinder the client’s convenience, as well as actually gain an insight on how your clients work so we can better service them by means of the information they provided
  3. Mobile SIMS Gamification – while it might be argued that it’s somehow “risky”, combining different apps and tools that could help the client out by archiving their information and make their interactions easy and hassle-free can still go a long way for both parties.
  4. Combining Technology with real-life interactions – Ultimately, once all other factors have been addressed, it goes all the way down into making that connection happen. To get this done, we here at Telemessage over a wide variety of products that could leave your clients in-touch and assures a healthy, long-term relationship with them, in the most secured and easy-going way.

In this infographic brought to you by us, here from TeleMessage, we will show in an in-depth detail how each of the aforementioned factors work:

Wealth managers