Context

A top wealth management firm was looking to expand its communication channels to include text messaging (SMS) as part of its communication strategy and approach. Traditionally the firm only leveraged email (most ad hoc) and phone calls to communicate with its clients. The firm had concerns specific to meeting its regulatory expectations while, at the same time, ensuring that communication with clients and prospects remained individualized and personal following the firm's service model. We partnered with this firm to expand its communication channels while at the same time, ensuring that communication remained individualized, compliant, and streamlined in execution.

Client

• Financial Services

• Wealth Management

• Texas

Solution

• Optimization

• Integration

Salesforce™ Products

• Salesforce Financial Services Cloud

• Pardot

• Digital Engagement

Integrations

• Global Relay: Messaging & Archiving Solution for Compliance

Our Approach

At Vantage Point, we partner with many clients already up and running on the Salesforce platform to optimize how they leverage the platform to meet their goals and objectives. This firm was no exception as Salesforce Digital Engagement extended its current state implementation and used the case of Financial Services Cloud and Salesforce Pardot. We worked with our client’s Salesforce administrator to layout the project-specific objectives. From there, we led the way in getting the solution implemented, tested, and ultimately deployed into production within just a few short weeks. The objectives of the project included:

1. Ensuring the firm's marketing team at the ability to send text (SMS) messages out in bulk

2. Expanding the firm's current digital communication in nurturing campaigns to include text (SMS) messages,

3. The ability to provide financial advisors with a compliant one-on-one text messaging solution whereby advisors could communicate with their clients via text message, based on the communication preferences of their clients

Actions & Impact

• We implemented Salesforce Digital Engagement to introduce text messaging (SMS) as an expanded communication channel supporting bulk SMS and one-to-one communication from directly within Salesforce.

• Leveraged messaging templates to streamline and standardize the text messaging communication that was taking place, ensuring compliance and leveraging Dynamic tags to ensure that communications remained personalized and high-touch

• We connected the firm’s instance of Salesforce with the firm's communication archiving solution, Global Relay. Text messages sent and received from within Salesforce archived in the Global Relay, resulting in a consistent and streamlined review of SMS communications as an extension of the current state email review process’s compliance teams.

Challenges

• Introduce text messaging as an additional communication channel while maintaining communication execution efficiency and without increasing complexity or risk

• Maintain the firm’s personalized approach to communicating with prospects and clients

• Remain compliant with communication archiving regulatory expectations while at the same time providing financial advisors with an expanded communication utility

Our client has an efficient and effective way to send/receive text messages all on one platform. Financial advisors and other firm stakeholders can leverage text messaging as part of their one-on-one communications with prospects and clients and part of their communication journeys and communications sent in amass, all executed within Salesforce. Most notably, the firm has maintained its compliance and regulatory obligations and has only taken a step forward in expanding its communication strategy and workflow.