Texting: Good Business and Fully Compliant

Financial advisors should text their clients from the outgo, and they should keep doing it. FINRA approves


As Alan Wolper makes clear in his blog entry from October 19, 2020, texting has become so natural a part of human interaction that it is quite unreasonable to assume that people signing up for a financial advisor for the first time will not expect to send and receive text. When instead they’re strictly limited to office numbers, it sends a rather poor signal. They hear three things:

  1. “Leave me alone”. It’s easy to assume the advisor does not care much to hear their concerns or requests and wants to maintain distance by imposing an office number only.

  2. “I’m incapable”. The advisor comes across as low-tech and behind the times, which does not bode well for a capacity to represent the world of investment opportunities, which are increasingly technical in nature.

  3. “This is risky”. If texting is not allowed, the lead can start to wonder what other risks they could be taking with the financial advisor, causing them to skew their sense of the risks financial advisors take generally and how those square up to the law.


Clearly, texting leads and clients satisfies them and is better business, but it’s also safer and more practical during the pandemic. When going into the office entails taking additional safety risks, and when accessing the office phone remotely is cumbersome, texting starts to feel even better.

This all being said, many organizations still default to a strict no-text policy. Why? Traditionally, it’s because there can be extreme consequences to failing to adhere to FINRA policy. What is that policy? All text messages history associated with a work number must be tracked and records kept. So what? This presented a daunting technical hurdle, and it still would, if all text messages sent from the firm were done so through mobile phones on various service providers overlapping with personal texts.

Is there a better way? Yes. Here lies one fundamental innovation allowing some financial advisors to excel over others: texting can be done through business software applications. Here at Deft Sales, we enable our financial advisors to send texts through our app, and the app has no trouble capturing and reporting every message. Gone is any need to disallow texting, and the resulting boost in business performance is instant and staggering. Our users are reporting faster responses to new leads, more conversions, and better relationships with existing clients due to this augmented ease of communication. There’s no need to buy another phone, and there’s no need to separate work-related texts from personal texts. Deft Sales provides completely separate phone numbers through the software, so there is never any need to capture and report texts from the advisor’s personal mobile phones.

Check out the app now