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Cetera Partners With Hearsay; Advisors Can Now Compliantly Text Clients

We’re delighted to share that Cetera, a leading network of independent firms supporting the delivery of objective retail financial advice, is rolling out Hearsay Relate, our new solution that enables advisors to compliantly text and call their clients and prospects from one dedicated business number. The rollout to all of Cetera’s network firms is expected to conclude this August.
In a press release issued today, Cetera chief marketing officer Michael Zuna said, “Texting is a high-priority communication tool in both our personal and business lives. Studies show that we respond faster to text messages than any other type of outreach. Our new texting solution is another example of Cetera understanding what advisors need to be successful and stay connected with their clients. … We are excited to team with Hearsay Systems, a proven leader in promoting client engagement in our industry.”
Hearsay Relate’s powerful supervision and compliance features – including the ability to to monitor, archive and access complete text threads, as well as block all inappropriate or risky text messages before they are sent to clients – were a critical consideration for Cetera. According to the press release, the “texting solution is fully compatible with [Cetera’s] existing electronic archiving system, enabling the storage of all messages in a manner consistent with FINRA regulatory guidelines.”
In addition to “conforming to the highest possible standards of security and regulatory compliance,” Hearsay CEO and founder Clara Shih noted that with Hearsay Relate, Cetera advisors can “leverage time-saving features like pre-built workflows that automate common industry-specific tasks,” including pre-scheduling annual review reminders.
Zuna concluded, “Cetera’s new texting solution provides our advisors with a crucial tool for increasing transparency and connection to their clients. Today’s announcement builds on a foundation of consistent and seamless communication designed to deepen the relationships our advisors have with their clients.”
We look forward to a long-term partnership with Cetera, and to advance their mission to help their advisors develop meaningful, trusted client relationships!

New Hearsay Study: Are Financial Advisors Sharing the Right Social Media Content?

Hearsay’s exclusive focus on the financial services industry provides us with an unprecedented amount of data on the digital activities by financial services firms and their advisors. One of the things that excites our team the most is uncovering new insights from our proprietary data, and using that to develop highly industry-specific features, tools and best practices recommendations for our customers that map to the business outcomes they care about the most.
I’m proud to share our new benchmark Social Media Content Study, which aims to go beyond how advisors use social for business and looks at what social media content is actually resonating with their followers, clients and prospects.
In all, our customer success and data teams analyzed approximately 3.4 million posts from 77,000 advisors using our Advisor Social platform to determine:

  • What types of content are most popular with advisors?
  • What content actually drives engagement (prospect and client touch points) from their followers?
  • How can corporate or field marketing teams, as well as advisors, better optimize their content mix?
  • What differentiated content trends are we seeing for the wealth management, life insurance, and property and casualty insurance verticals?

What did we find out? Here are some top-level key results:

  • Corporate content is suggested the most by corporate (45 percent), but receives relatively low publishing rates in the field (26 percent). Takeaway: Corporate and field marketing teams invest a lot of resources to share and promote branded content, but advisors aren’t posting it.
  • Lifestyle content is suggested the least by corporate (23 percent), but has the highest engagement rates from advisors’ followers (48 percent). Takeaway: A small pool of lifestyle content for advisors to choose from/share limits their ability to present their personal authentic self, which their followers like to see.
  • Advisors seek out and publish industry-related content the most (42 percent). Takeaway: Advisors look to social media to show off their financial expertise.

What can corporate and field marketing teams do to improve their programs and optimize their content mix?
We outline four best practices in the report, but on a more strategic level, corporate teams need better alignment with the field and consumer preferences, as well as a strengthened connection between social media and core business outcomes.
This can be accomplished by:

  • Leveraging data to improve content mix. (We recently launched a new offering called Hearsay Content, which helps marketing teams enhance their advisor content libraries with lifestyle and industry content from well-respected sources.)
  • Automating general social publishing for advisors. This allows marketing teams to do what they do best (informed by data), and frees up advisors to focus on higher-value, 1-to-1 client interactions that are more likely to lead to sales-oriented conversations.
  • Guiding advisors on what to do next once a touch point is made on social – e.g., automated suggestions to follow up with a contact on a more personal channel like email or text, with additional content or a call-to-action that is personalized to that contact.

I highly encourage you to download the full Social Media Content Study for additional data points, including specific trends for the wealth management, life insurance, and property and casualty lines of business.
If you’re a current Hearsay customer, your customer success team can provide detailed, prescriptive recommendations on how to improve your advisor content libraries and help increase your publish and engagement rates. We’re ready and eager to help!