Cetera Launches Adviser Texting Solution for Smoother Client Communication

The firm recently announced a new initiative to expand its 401(k) business, and it has now unveiled a texting solution aimed at simplifying compliance and recordkeeping in text-based client communications.

Cetera Financial Group has launched a “fully compliant texting solution” for its affiliated financial advisers.

As the firm explains, the solution enables Cetera advisers to “quickly and easily correspond with clients through a medium that has rapidly become the communication method of choice for clients across the generational spectrum, and to do so in a manner that is fully consistent with industry rules and regulations.”

Cetera will roll out the solution to all of its network firms in phases, commencing with a pilot program that is currently underway. It will likely take some time to test the texting solution, given that the lack of uniformity among independent financial advisers in how their offices are structured and the kinds of telecommunications technologies they use.

The texting solution is powered by Hearsay Systems, a Silicon Valley-based provider of digital client engagement solutions for advisers and agents at financial services and insurance firms. According to Cetera leadership, the solution is fully compatible with the company’s existing electronic archiving system, enabling the storage of all messages in a manner consistent with FINRA regulatory guidelines. Texts sent and received through the solution will be accessible from advisers’ desktops or mobile devices, the firm says.

Commenting on the collaboration, Clara Shih, CEO at Hearsay Systems, suggests texting is “a key factor in building deep, long-lasting client relationships.”

This news comes in the same week that Cetera announced the launch of a new 401(k) Practice Development Program tailored for its advisers—both those currently serving retirement plans and those seeking to expand into this market.