‘Text me,’ say clients, but many B-Ds don’t allow it
1
Almost nine out of 10 advisers believe clients want to text, Redtail survey finds.
While 87% of advisory firm employees believe their clients would like to communicate with them via text, 29% of firms have a “no client texting” policy, a new survey from Redtail Technology finds.
In addition, the survey found that 40% of respondent broker-dealers have not approved texting as a form of communication with clients.
Things may be changing, however, as 31% of survey respondents are planning to adopt texting as a communications channel within the next year.
The Redtail survey, AdvisorComms 2019, polled more than 3,200 financial advisory professionals in an attempt to understand trends related to client communication.
[Recommended video: Advisers want personalized digital solutions for clients]
Among the key findings: In-person meetings generated the most client engagement (76%), followed by phone calls (66%).
Only 10% of advisory firms used texting for client communications, and 13% used video calls, according to the survey.
Learn more about reprints and licensing for this article.
