Best FINRA-compliant texting for advisers
Compliant texting for financial advisors comes down to one test: every business text is kept, can be reviewed and can be produced. We read seven texting and text message archiving tools against the adviser and broker-dealer rules, column by column, from each vendor's own pages.
Reviewed October 2026
Best overall
MyRepChat
Built for advisers' client texting: its page says it captures and stores all advisor-client texts, and it names 13 archives and 16 CRMs it connects to.
Read the review of MyRepChatBest for a one-adviser RIA
iPlum
A second business line on the adviser's own phone, with texts kept in WORM storage with an audit trail by iPlum itself, so one vendor holds the record.
Read the review of iPlumBest for a firm whose reps text on iMessage
Archive Intel
Captures iMessage, WhatsApp and Android texts in the native apps on the rep's own number, with a contact whitelist that leaves personal texts out.
Read the review of Archive Intel
The comparison table
| Vendor | Captures every text on the business number204-2(a)(7); 17a-4(b)(4) | Kept with an audit trail or non-rewriteable, in-house or via a named archive17a-4(f)(2)(i) | Supervisory review and flagsFINRA 3110(b)(4) | iMessage, WhatsApp and RCS | Separate business number on a personal phone | CRM integration | Records export17a-4(f)(2)(iv) |
|---|---|---|---|---|---|---|---|
MyRepChatTexting app | Meets Captures and stores all advisor-client texts | Partial 13 archives named; its own storage mode not stated | Partial Customizable alerts; review steps not stated | Not stated Text messaging only | Not stated | Meets 16 named, Redtail and Wealthbox among them | Not stated Through the connected archive |
iPlumSecond-line app | Meets Two-way texts archived in the iPlum portal | Meets WORM format with an audit trail | Partial Compliance console and audit logs; no keyword flags stated | Not stated SMS and MMS | Meets Second line via an app | Not stated REST APIs only | Partial Search and export; text format not stated |
Archive IntelNative-app capture | Meets SMS and MMS from firm and personal devices | Meets WORM-compliant cloud; access audit trail | Partial AI review against SEC and FINRA rules; evidence of review not stated | Partial iMessage and WhatsApp; RCS not stated | Not stated By design: no new number | Partial Whitelist syncs with the client database; no CRM named | Meets Formatted export without IT |
Clerk ChatTexting in Teams | Partial Sent to a connected archive; scope not stated | Partial Via Global Relay, Smarsh or Microsoft Purview | Partial Keyword blocking and alerts; review steps not stated | Partial RCS and WhatsApp; iMessage not stated | Check with vendor Texts from Teams numbers | Meets Salesforce, Microsoft Dynamics | Meets Message and call logs |
Hearsay RelateClient messaging | Partial Built-in archiving named, not described | Check with vendor No storage mode or archive named | Partial Dashboard, keyword monitoring, pre-approvals; evidence of review not stated | Partial WhatsApp; iMessage and RCS not stated | Check with vendor Asked on its page, not answered | Meets Syncs with the CRM; Salesforce named | Not stated |
SmarshCarrier capture | Meets SMS and business texts from carrier networks | Meets WORM and audit-trail retention | Partial Supervision in the archive; evidence of review not stated | Partial WhatsApp Business; iMessage where supported | Check with vendor BYOD capture; number model not stated | Not stated | Meets PST, EML, HTML, XML |
TextellentOffice-line texting | Meets Every message logged and archived | Check with vendor Storage mode and period not stated | Check with vendor Automated supervision named, not described | Not stated SMS on the office line | Not stated Texts from the main office line | Meets Salesforce and HubSpot named | Not stated |
What the rules ask of a client text
No SEC or FINRA rule names a texting app. The rules say which messages are records, how long they are kept, how they are stored and who reviews them, and they say it differently for an investment adviser and a broker-dealer. The adviser rule is narrower: it covers written communications on four listed subjects. The broker-dealer rule covers all business communications. The detail is in our guides to Rule 204-2 adviser books and records and Rule 17a-4 and WORM storage.
One client text, two rulebooks
| SEC-registered adviser | Broker-dealer (FINRA member) | |
|---|---|---|
| Which texts are records | Written communications about advice or recommendations, funds or securities moving, orders, and performance | All communications sent and received relating to its business as such |
| Rule | 17 CFR 275.204-2(a)(7) | 17 CFR 240.17a-4(b)(4) |
| How long | Not less than five years from the end of the fiscal year of the last entry, the first two in an appropriate office | Not less than three years, the first two in an easily accessible place |
| Storage form | Electronic storage is allowed if records are safeguarded from loss, alteration or destruction and a duplicate is kept; no WORM requirement | A complete time-stamped audit trail, or a non-rewriteable, non-erasable format |
| Review | Your own written policies under Rule 206(4)-7; no FINRA review rule | Review by a registered principal, evidenced in writing, under FINRA Rule 3110(b)(4) |
17 CFR 275.204-2(a)(7), (e)(1), (g); 17 CFR 240.17a-4(b), (f)(2)(i); FINRA Rule 3110(b)(4)
A dual registrant answers to both. Rule 204-2(h)(1) deems a record kept under the broker-dealer rules, if it is substantially the same, to be kept under the adviser rule as well, so one setup bought to the broker-dealer terms can serve both sides. For a broker-dealer, FINRA ties the retention of correspondence straight to the SEC rule: internal communications and correspondence are kept for the period in Rule 17a-4(b), and the names of the person who wrote and the person who reviewed outgoing correspondence must be ascertainable from the record (FINRA Rule 3110.09). Our retention calculator works out the keep-until date for either.
FINRA does not require a principal to read every text before it is sent. Rule 3110.06 lets a member decide by risk how much correspondence to review, provided it trains its people, documents the training and runs surveillance and follow-up. That is the job the review column measures. See FINRA Rule 3110 supervision for small broker-dealers.
What the columns mean for a small firm
The first three columns come from the rule text. The last four are what decides whether advisers actually use the tool, which matters as much: a compliant app nobody opens is how texts end up off-channel.
- Captures every text on the business number204-2(a)(7); 17a-4(b)(4)
- Both directions, every time, with no step the adviser can skip. A tool that saves only what the adviser forwards, or only the texts sent from a desktop, leaves the gap the off-channel cases were about.
- Kept with an audit trail or non-rewriteable17a-4(f)(2)(i)
- A broker-dealer must use one of the two modes. Many texting apps hand the record to an archive instead of holding it, which is fine if the archive is named and connected; the vendor holding the record is the one to ask for its storage mode.
- Supervisory review and flagsFINRA 3110(b)(4)
- Keyword flags and a review queue are how a one-principal broker-dealer keeps up. The test is whether the tool records who reviewed what, when, and what was done about it.
- iMessage, WhatsApp and RCSOff-channel cases
- Clients text on whatever their phone opens. If a tool cannot capture iMessage or WhatsApp, the firm's policy has to stop advisers using them for business, and someone has to check.
- Separate business number on a personal phonePractical
- A second line keeps personal texts out of the archive: everything on that number is business. Native-app capture works the other way: the adviser keeps one number, and a contact whitelist does the sorting.
- CRM integrationPractical
- Texts that land in the client record are found in an exam and in a client review. It is a convenience, not a rule, but it is the column advisers notice every day.
- Records export17a-4(f)(2)(iv); 204-2(g)
- The record must come out readable, both to an examiner on request and to your next vendor when you switch. Ask for the format in writing.
Three ways compliant texting is built
Every product in the table is one of three designs. The design decides what the client sees, what the adviser has to change, and where the record ends up, so pick the design first and the vendor second.
The design decides the habit
| Design | The number clients text | How the record is kept | In this table |
|---|---|---|---|
| A texting app with its own number | A business number in an app on the adviser's phone, or the firm's office line | Only texts sent to that number are business; the app keeps or forwards every one | MyRepChat, iPlum, Textellent |
| Capture on the phone's own apps | The adviser's existing number, in iMessage, WhatsApp or the default texting app | Capture runs underneath; a whitelist or carrier feed decides what is kept | Archive Intel, Smarsh |
| Texting inside the firm's phone system | A number in Microsoft Teams or the CRM's messaging tool | The phone system hands every message to a connected archive | Clerk Chat, Hearsay Relate |
A new number is the cleanest record and the hardest habit: clients keep texting the old one. Capture on the native apps keeps the habit and puts the weight on the whitelist and the capture method, which our WhatsApp and iMessage archiving comparison reads in detail. If the firm already pays for an archive, the third design, or an app that feeds that archive, avoids buying storage twice; the archives themselves are compared in text message archiving software. Not sure which records your firm type must keep? The archiving requirements matcher lists them.
Why texting became an exam question
The release did not change the rule text. Rule 204-2(a)(7) and Rule 17a-4(b)(4) still say which messages are records, and an examiner can still ask for them. A firm that lets advisers text clients needs a tool that keeps those texts, or a written policy that keeps business off texting, and a way to check either. Our guide to off-channel communications covers the cases, and the off-channel policy builder drafts the policy.
What to ask a vendor before you sign
Every vendor card below ends with a Not verified by us line: the exact thing its own pages did not settle. These are the questions behind those lines, with the rule each one comes from. Get the answers in writing; a sales call is not a record either.
Questions for a texting vendor
- Storage mode of the record the vendor holdsAudit trail or WORM17 CFR 240.17a-4(f)(2)(i)
- Outside recordkeeper's written undertaking, filed with the SECBroker-dealers17 CFR 240.17a-4(i)(1)
- Export in a human readable and reasonably usable formatIn writing17 CFR 240.17a-4(f)(2)(iv)
- Evidence of review: reviewer, message, date, actionPer reviewFINRA Rule 3110.07
- Adviser records, from the end of the fiscal year of the last entry5 years17 CFR 275.204-2(e)(1)
- Broker-dealer communications kept3 years17 CFR 240.17a-4(b)
The undertaking applies to broker-dealers whose records sit on servers an outside service owns and operates. No regulator approves texting apps; the duties stay with the firm.
Texts that should also reach the client file need a CRM link; the CRMs advisers use are compared in the best CRM for financial advisors, and every messaging vendor we track is listed in the compliant messaging directory.
Each vendor, read against the rule
MyRepChat
Texting app- What it is
- A texting app for advisers that sells itself as SEC and FINRA compliant texting. Its compliance page says it captures and stores all advisor-client texts for compliance review, sends customizable alerts on possible issues and shows archive activity on a calendar. It connects to 13 named archives, Smarsh, Global Relay, Proofpoint and Pagefreezer among them, and to 16 named CRMs.
- Who it fits
- An RIA or an independent broker-dealer rep who already has an archive and a CRM such as Redtail, Wealthbox or Salesforce, and wants client texts to land in both without a new workflow.
- What the rule requires, and whether it meets it
- Captures every text on the business numberMeetsCaptures and stores all advisor-client texts
- Kept with an audit trail or non-rewriteable, in-house or via a named archivePartial13 archives named; its own storage mode not stated
- Supervisory review and flagsPartialCustomizable alerts; review steps not stated
- iMessage, WhatsApp and RCSNot statedText messaging only
- Separate business number on a personal phoneNot stated
- CRM integrationMeets16 named, Redtail and Wealthbox among them
- Records exportNot statedThrough the connected archive
- Not verified by us
- Ask for: the storage mode of texts held by MyRepChat itself (audit trail or non-rewriteable), its channel list (MMS, iMessage, a business number or the office landline), and the export format if you leave.
iPlum
Second-line app- What it is
- A mobile phone system that puts a second business line, with calls, texts and voicemail, on a phone the adviser already owns. Its financial compliance page ties SEC Rule 17a-4 and FINRA Rule 4511 support to records kept in a non-rewriteable, non-erasable format with an audit trail, offers up to 10 years in its Enterprise cloud vault, and can record business calls for firms under FINRA's taping rule.
- Who it fits
- A one-adviser RIA or a small team that wants one vendor to hold the number, the texts and the record, and has no archive contract to connect to.
- What the rule requires, and whether it meets it
- Captures every text on the business numberMeetsTwo-way texts archived in the iPlum portal
- Kept with an audit trail or non-rewriteable, in-house or via a named archiveMeetsWORM format with an audit trail
- Supervisory review and flagsPartialCompliance console and audit logs; no keyword flags stated
- iMessage, WhatsApp and RCSNot statedSMS and MMS
- Separate business number on a personal phoneMeetsSecond line via an app
- CRM integrationNot statedREST APIs only
- Records exportPartialSearch and export; text format not stated
- Not verified by us
- Ask for: the export format for texts (not just call audio), whether iPlum files the 17a-4(i) undertaking a broker-dealer's outside recordkeeper must file, and any keyword review or flagging beyond the audit logs.
Archive Intel
Native-app capture- What it is
- An archive and supervision platform built for SEC- and FINRA-regulated firms. It captures iMessage, WhatsApp and Android texts in the native apps, with no second phone, no extra app and no new number; a contact whitelist captures business texts and leaves personal ones out. Its FAQ states WORM-compliant cloud storage, a third-party custodian for the backup requirement and an access audit trail.
- Who it fits
- A firm, from a solo RIA to a broker-dealer, whose clients already text the rep's own number on iMessage or WhatsApp and will not move to a new one.
- What the rule requires, and whether it meets it
- Captures every text on the business numberMeetsSMS and MMS from firm and personal devices
- Kept with an audit trail or non-rewriteable, in-house or via a named archiveMeetsWORM-compliant cloud; access audit trail
- Supervisory review and flagsPartialAI review against SEC and FINRA rules; evidence of review not stated
- iMessage, WhatsApp and RCSPartialiMessage and WhatsApp; RCS not stated
- Separate business number on a personal phoneNot statedBy design: no new number
- CRM integrationPartialWhitelist syncs with the client database; no CRM named
- Records exportMeetsFormatted export without IT
- Not verified by us
- Ask for: the name of the third-party custodian and its undertaking, the export formats, which CRMs the whitelist syncs with, and whether RCS messages are captured.
Clerk Chat
Texting in Teams- What it is
- Texting and calling on Microsoft Teams numbers: SMS, MMS, RCS and WhatsApp inside Teams, Zoom and Webex. Its financial-services page names Global Relay, Smarsh and Microsoft Purview as archive integrations, blocks prohibited terms in real time with alerts, and exports message and call logs.
- Who it fits
- A firm that already runs its phones and chat in Microsoft Teams and has, or will buy, one of the three named archives.
- What the rule requires, and whether it meets it
- Captures every text on the business numberPartialSent to a connected archive; scope not stated
- Kept with an audit trail or non-rewriteable, in-house or via a named archivePartialVia Global Relay, Smarsh or Microsoft Purview
- Supervisory review and flagsPartialKeyword blocking and alerts; review steps not stated
- iMessage, WhatsApp and RCSPartialRCS and WhatsApp; iMessage not stated
- Separate business number on a personal phoneCheck with vendorTexts from Teams numbers
- CRM integrationMeetsSalesforce, Microsoft Dynamics
- Records exportMeetsMessage and call logs
- Not verified by us
- Ask for: confirmation that every inbound and outbound text reaches the archive, a mobile app for a personal phone, and whether iMessage is in scope.
Hearsay Relate
Client messaging- What it is
- Hearsay's client messaging product, now presented on Yext's platform pages: text, WhatsApp and voice from one place, synced with the CRM. Its page names built-in supervision and archiving, a supervision dashboard, keyword monitoring and pre-approvals, and says it is used across tens of thousands of advisors.
- Who it fits
- A larger advisory firm or broker-dealer on Salesforce that wants messaging, supervision and pre-approval in one enterprise product.
- What the rule requires, and whether it meets it
- Captures every text on the business numberPartialBuilt-in archiving named, not described
- Kept with an audit trail or non-rewriteable, in-house or via a named archiveCheck with vendorNo storage mode or archive named
- Supervisory review and flagsPartialDashboard, keyword monitoring, pre-approvals; evidence of review not stated
- iMessage, WhatsApp and RCSPartialWhatsApp; iMessage and RCS not stated
- Separate business number on a personal phoneCheck with vendorAsked on its page, not answered
- CRM integrationMeetsSyncs with the CRM; Salesforce named
- Records exportNot stated
- Not verified by us
- Ask for: where messages are stored and in which 17a-4(f) mode, the archive vendors it feeds, the export format, and whether advisers keep their existing numbers.
Smarsh
Carrier capture- What it is
- Mobile capture from a large archiving vendor. It captures SMS and business texts, MMS, WhatsApp Business and iMessage where supported, straight from carrier networks such as AT&T, Verizon and T-Mobile, on corporate-owned and BYOD phones, into the Smarsh archive with its supervision and export tools.
- Who it fits
- A broker-dealer or a dual registrant already on the Smarsh archive, or one that wants capture with no app for reps to open.
- What the rule requires, and whether it meets it
- Captures every text on the business numberMeetsSMS and business texts from carrier networks
- Kept with an audit trail or non-rewriteable, in-house or via a named archiveMeetsWORM and audit-trail retention
- Supervisory review and flagsPartialSupervision in the archive; evidence of review not stated
- iMessage, WhatsApp and RCSPartialWhatsApp Business; iMessage where supported
- Separate business number on a personal phoneCheck with vendorBYOD capture; number model not stated
- CRM integrationNot stated
- Records exportMeetsPST, EML, HTML, XML
- Not verified by us
- Ask for: an independent 17a-4(f) assessment of the archive, the carriers that cover your reps, and how a personal number on a BYOD phone is split from business texts.
Textellent
Office-line texting- What it is
- A business texting platform with a financial-advisor product. It turns the firm's main office line into a texting number, says every message is logged and archived for audit purposes, and handles opt-ins, opt-outs and consent records. Its home page offers a 14-day free trial.
- Who it fits
- A small office whose clients already call one main number and want to text it, where the archive question can be settled with the vendor first.
- What the rule requires, and whether it meets it
- Captures every text on the business numberMeetsEvery message logged and archived
- Kept with an audit trail or non-rewriteable, in-house or via a named archiveCheck with vendorStorage mode and period not stated
- Supervisory review and flagsCheck with vendorAutomated supervision named, not described
- iMessage, WhatsApp and RCSNot statedSMS on the office line
- Separate business number on a personal phoneNot statedTexts from the main office line
- CRM integrationMeetsSalesforce and HubSpot named
- Records exportNot stated
- Not verified by us
- Ask for: the storage mode and retention period of its built-in archive, what its automated supervision flags, and the export format.
How we read these vendors
Questions firms ask
Can an adviser text clients from a personal phone?
The rules do not ban a device; they require the record. If a text is a record under the adviser rule or the broker-dealer rule, the firm must keep it, whatever phone sent it. The SEC's off-channel cases turned on business texts sent from personal devices that the firms did not keep. A second business line, or capture on the phone's own apps, is how firms allow personal phones and still keep the record.
17 CFR 275.204-2(a)(7); 17 CFR 240.17a-4(b)(4)
Is iMessage allowed for client texts?
No rule names iMessage, so it is allowed only if the firm can keep those messages. Few texting apps capture it. In this table, Archive Intel states iMessage capture in the native app, and Smarsh states it where supported. If your tool cannot capture iMessage, your written policy has to keep business off it.
17 CFR 275.204-2(a)(7); 17 CFR 240.17a-4(b)(4)
Does the rule require WORM storage for texts?
For a broker-dealer, the system must keep a complete time-stamped audit trail or keep records in a non-rewriteable, non-erasable format; either mode satisfies the rule since the 2022 amendments.
For an SEC-registered adviser, Rule 204-2(g) has no WORM requirement. It does require the firm to safeguard records from loss, alteration or destruction, keep a duplicate copy and produce records promptly.
17 CFR 240.17a-4(f)(2)(i)(A)-(B); 17 CFR 275.204-2(g)
How long must client texts be kept?
An adviser keeps them not less than five years from the end of the fiscal year of the last entry, the first two years in an appropriate office. A broker-dealer keeps them not less than three years, the first two in an easily accessible place. Check with your compliance counsel before setting a shorter schedule for any message type.
17 CFR 275.204-2(e)(1); 17 CFR 240.17a-4(b)
Must a principal review every text?
Not before it is sent. A broker-dealer reviews correspondence under written, risk-based procedures; if it does not review everything before use, it must train, document the training and run surveillance and follow-up. Each review must record the reviewer, the message, the date and any action, and merely opening a message is not review.
FINRA Rule 3110(b)(4), 3110.06, 3110.07
Is any texting app FINRA approved?
No. Neither FINRA nor the SEC approves vendors, and FINRA retired its Compliance Vendor Directory effective March 19, 2024. A vendor's compliance claim describes its product; the recordkeeping and supervision duties stay with the firm.
finra.org/industry/cvd