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WhatsApp Text Archiving for Wealth Managers and Investment Advisors

TeleMessage allows Wealth Managers and Investment Advisors to WhatsApp communicate with customers from their mobile:

✔ Increase customer satisfaction

✔ Close deals faster

✔ Be innovative

✔ Stay compliant with regulations

The business environment for asset managers and broker-dealers has become increasingly dynamic and disruptive with the endless introduction of new messaging. Currently, with large numbers of clients using WhatsApp both for personal and business use, asset managers and broker-dealers need the empowerment through the most innovative WhatsApp archiving solutions, both to effectively manage professional engagements and to comply with the evolving FINRA, SEC, and CFTC mobile archiving regulations.

WhatsApp has gained popularity and significantly crimped SMS and MMS usage due to it being an encrypted messaging service that also uses the internet, resulting in lower costs and better coverage.

The right balance between having an efficient workplace, client communication, and effective compliance with message archiving regulations for WhatsApp in the asset management industry does, however, present a challenge. TeleMessage recognizes this difficulty and provides a unique archiving solution to record WhatsApp messages in real-time.

Some 23.4 million Americans and three million businesses have begun using WhatsApp messaging for personal and business purposes. The popularity of WhatsApp extends to employees, asset managers, broker-dealers, clients, and other stakeholders. The usage of WhatsApp spans the whole range of messages, including sensitive information to different people.

Since multitudes use WhatsApp, including paying customers, asset managers and broker-dealers must use newer messaging platforms to better engage their clientele, while staying competitive within their field. Preventing them from using WhatsApp can could also limit their productivity and reduce the organization’s operational efficiency while potentially introducing regulatory compliance risks.

Advisers are required under Advisers Act rule 204-2 to keep certain books and records – including electronic communications such as text messages and chat logs, especially in light of the 2019 SEC OCIE Risk Alert

Dodd-Frank Act

Wall Street Reform and Consumer Protection Act — 2010

“… requires the recording of all electronic communication … within 24 hours of an audit…

Read explanation of the full requirements here

TeleMessage’s WhatsApp Text Archiving for Wealth Management Firms and Investment Advisers can help:

  • ✔ Capture all work-related WhatsApp messages – regardless of device ownership, carrier, or device platform.
  • ✔ Retain all unstructured WhatsApp content accessible in one uniform archiving database, allowing for faster response during a regulatory request, and more efficient internal audits.
  • ✔ Produce necessary records of captured communications for eDiscovery more efficiently.
  • ✔ Provide an audit trail to regulators to prove compliance with the relevant record retention requirements.
  • ✔ Lower cost of database maintenance by allowing firms to store their archived WhatsApp messages in their preferred email archiving vendor.
  • ✔ Monitor employee communication effectively to identify non-compliance with industry standards and company policies, such as inappropriate client conduct, illegal trade activities, and workplace harassment and bullying.
  • ✔ Improve employees’ productivity and morale by allowing them to send WhatsApp messages with their colleagues and clients, which is much quicker than sending emails and but not as intrusive as making phone calls.

TeleMessage captures and retains mobile SMS, as well as MMS, voice calls, emails, WhatsApp Chats, and other mobile content. Messages are securely and reliably retained within TeleMessage servers or forwarded to an archiving data storage vendor of your choice.

Our mobile archiving products securely capture content from mobile carriers and mobile devices for a variety of ownership models (BYOD, CYOD, and employer-issued). With our multiple archiving solutions, you can always find the right tools or blend for your requirements:

Learn more about our our UK & EU Finance Sector solutions here.

Learn more about our Canadian Finance Sector solutions here.

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For more information on compilance & security



The TeleMessage Financial Services DataSheet

We’ll show you how to archive BYOD and Corporate phones!

Our platform allows for compliant enterprise-wide archiving solutions for financial services:

Financial Services — Supporting Broker and Dealer SEC compliance and FINRA retention requirements
Investment Advisors — SEC regulations
Futures & Transfer Agents —NFA & SEC recordkeeping and oversight obligations
Lending Compliance — For with the FFIEC, Fair Lending Laws, Truth in Lending Act or the FTC’s rules on Unfair, Deceptive or Abusive Acts
Investment Dealers (Canada) — Complies with IIROC Rules and Notices and National Instrument regulations
Investment Advisers (UK) — MiFID II compliant

and more

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