Despite the advantages of a face-to-face video meeting with clients when communicating with them outside the office, more than half of respondents (59%) said they do not communicate with it for business purposes. Instead, many respondents (62%) said they follow up with clients via e-mail (62%) and another third (38%) via phone.

Many advisors that eschew digital communications could be taking their business relationships for granted; almost half of respondents surveyed (41%) said they don’t measure client engagement.

According to Redtail CEO Brian McLaughlin, advisors may have no other choice but to change with the times, sooner rather than later.

“We expect technology like texting and video calls to become more widely used among financial advisors as they experience increased demand from clients to leverage the technology, [as well as] growing pressure from fee compression,” he said in a news release. 

Redtail, founded in Sacramento, Calif., in 2003, provides the financial services industry with web-based client relationship management (CRM) software, compliant text messaging solutions (Redtail Speak), paperless office offerings and e-mail archiving.


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