— Ladenburg Subsidiary Enhances Advisor-Client Engagement, Adding Preferred Mode of Mobile Phone Communication —
— MyRepChat Meets Regulatory Guidelines and Integrates with CRM Platforms —
KNOXVILLE, TN – February 18, 2019 – Securities Service Network, LLC (“SSN” or “the Firm”), a leading independent advisory and brokerage (IAB) firm and wholly owned subsidiary of Ladenburg Thalmann Financial Services (NYSE American: LTS, LTSL, LTS PrA, LTSF, LTSK), today announced that its advisors now can use MyRepChat, an SMS texting platform to share text messages with their clients through a compliance-approved application.
Wade Wilkinson, President and Chief Executive Officer of SSN, said, “Text messaging has become the preferred mode of communication for many people in their day to day lives, so we wanted to give our financial advisors the ability to connect with clients on their smartphones, in a convenient manner that takes the guesswork out of meeting regulatory guidelines.”
MyRepChat is an application that resides on each advisor’s mobile phone, enabling advisors to send and receive client text messages from within the app, which also archives the information for compliance purposes. Advisors can upload contacts from their mobile phones and CRM platforms into the app, as well as schedule future messages, recurring messages, automatic responses and message templates.
SSN’s adoption of this user-friendly tool reflects the firm’s commitment to adapting to technological, social and regulatory trends that impact advisor-client relationships. Approximately half of U.S. households no longer have a landline phone, putting a premium on advisors’ ability to communicate to clients via text.
Meanwhile, as the Securities and Exchange Commission has made clear to the industry in notices about electronic messaging, firms and advisors must adhere to compliance policies and procedures regarding such data.
Wally Kennedy, an SSN-affiliated financial advisor with MFG Investments in Medford, N.J., said, “Texting through MyRepChat has strengthened my connection with my clients and improved the efficiency of my practice. By integrating the app with my CRM, I can get much more done in much less time. I also foresee this upgrade helping me grow my business with a younger demographic who considers texting to be second nature.”
About Securities Service Network, LLC (SSN)
Based in Knoxville, Tennessee, Securities Service Network, LLC (SSN), is an independent advisory and brokerage (IAB) firm founded in 1983 as one of the nation’s first fee-based firms in the independent retail financial advice space. SSN serves experienced, tax-savvy financial planners seeking to grow as independent entrepreneurs while retaining organizational simplicity in their businesses. In addition to providing a comprehensive range of back and middle office services, SSN also facilitates opportunities for its affiliated advisors to collaborate with other members of its advisor community who have tax advisory credentials and expertise to drive holistic solutions for end clients.
SSN supports over 330 independent financial advisors with approximately $14 billion in client assets, who serve mass affluent and high net worth individuals, families and business owners across the country. SSN is a wholly-owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTSL, LTS PrA, LTSF, LTSK), and has been honored for multiple consecutive years as a top independent firm, as rated by financial advisors, on WealthManagement.com, a leading industry media outlet. For more information, please visit www.joinssn.com.
MyRepChat is a communication tool allowing advisors to communicate with clients through text messaging while in compliance with company policy and industry regulations. Part of the ionlake portfolio, MyRepChat is available as mobile apps for iPhone, Android, and Windows platforms.
Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTSL, LTS PrA, LTSF, LTSK) is a publicly-traded diversified financial services company based in Miami, Florida. Ladenburg’s subsidiaries include industry-leading independent advisory and brokerage (IAB) firms Securities America, Triad Advisors, Securities Service Network, Investacorp and KMS Financial Services, as well as Premier Trust, Ladenburg Thalmann Asset Management, Highland Capital Brokerage, a leading independent life insurance brokerage company, Ladenburg Thalmann Annuity Insurance Services, a full-service annuity processing and marketing company, and Ladenburg Thalmann & Co. Inc., an investment bank which has been a member of the New York Stock Exchange for over 135 years. The company is committed to investing in the growth of its subsidiaries while respecting and maintaining their individual business identities, cultures, and leadership. For more information, please visit www.ladenburg.com.