Redtail Unveils ‘Redtail Speak’ Compliance Solution

The firm says this “first of its kind compliance-approved text messaging solution for financial advisers” helps maximize convenient client communication. 

Redtail Technology, a provider of client relationship management solutions for financial services firms, has launched “Redtail Speak,” described as a “compliance-approved, real-time communication platform for financial advisers.”

As the firm explains, “Speak is embedded directly in the Redtail CRM and enables advisers to communicate with clients safely and securely via text messages … Speak allows advisers to provide a higher level of service to their clients while remaining compliant with all federal rules and regulations, including FINRA’s new regulatory notice which states that all text messaging conversations must be recorded.”

Every conversation, message and document in the system is fully searchable and automatically archived, Redtail says. Activity is “recorded daily and shared with the adviser’s email surveillance provider, offering advisers a safe, compliance-approved way to communicate with their clients.”

Redtail Technology CEO Brian McLaughlin warns that, if advisers are already texting their clients, “chances are they’re doing it out of compliance, and if they aren’t, they’re missing out on a huge opportunity.”

Using the solution, advisers and all dedicated team members will be notified when they receive a new message from their respective client or team members. This “empowers advisers to communicate directly with colleagues, without ever leaving Redtail’s CRM.”

Finally, Speak also facilitates “a more collaborative environment by providing team members with access to the same communication thread, eliminating bottlenecks. Ultimately, this decreases advisers’ business costs, increases efficiencies and provides advisors with a higher-level of service as they get more time to focus on their clients.”

Speak is currently integrated with Orion Advisor Services and Riskalyze, and Redtail will continue to announce new integration partners quarterly. More information is available here