Redtail Technology recently released Redtail Speak, a platform that allows advisors to communicate securely and safely with their clients via text message. An article at RIABiz explains that currently, “an advisor texts via the CRM system, but clients can text via a traditional smartphone.” Industry observers offer differing views of the technology. Redtail’s CEO says his firm is a trend-setter, according to RIABiz. See the link below to read more about the technology. Also, a new report details the extent of financial abuse against the elderly, and notes that mortgages are the leading source of complaints to the Consumer Financial Protection Bureau, according to InvestmentNews. The report, titled “Older Consumers in the Financial Marketplace” is an analysis of 72,000 complaints filed with the CFPB. “Many older consumers are at increased risk because of health or living conditions, including cognitive decline, isolation, disability or the recent loss of a loved one,” the report states. See the InvestmentNews story below.
Caveats galore, Redtail attempts CRM revolution based on texting starting with 27,000 firms who use its software
By Lisa Shidler
Forget about SalesForce, Junxure and Siebel. Those makers of CRM software are so email era. Fixate instead for the moment on Redtail Technology, which quietly dominates the customer relationship management software market at 200 independent broker-dealers with 27,000 affiliated firms and 90,000 users — with LPL Financial as its marquee client.
Report details rampant elder financial abuse
By Mary Beth Franklin
Americans 62 and older, both rich and poor, are the target of widespread financial abuse from mortgage companies, banks, credit bureaus and debt collectors, according to a new report released recently. Two nonprofit public interest groups, the Frontier Group and the U.S. PIRG Education Fund, analyzed more than 72,000 complaints filed with the Consumer Financial Protection Bureau (CFPB), also known as the Consumer Bureau, since its inception in 2011.