Texting: when (and when not) to use it in client communications

I wish I had a dollar for every person who asks me “Why shouldn’t I text people when that’s their preferred method of communicating?”  

It’s a good question and deserves a good answer.  I’ll give it my best shot. 

Texting has become a wonderful, convenient way to send a quick message to another person.  Unlike e-mail, it’s easy to quickly glance at. You don’t have to do much more than look at your phone.

Related: Scheduling appointments: Stop typing and start talking

A large percentage of the population texts regularly. And, yes, it’s a preferred and fast way to make plans, tell someone an important message, etc.  

The financial services industry is highly regulated. If you are a registered rep, you must follow the rules of FINRA.  And the rule is that texting is not allowed.  Unfortunately, FINRA can’t change its rules as fast as our technology changes.  

Most of the managers I know have come to a reasonable way of handling this challenge: You can text the logistics of an appointment. But that’s it.  For example: If you are running late, the best way to insure clients know you’re late is to text them.  

Use texting to help get a “phone date,” but do not use it to set the actual appointment.  I get a lot of flak about that from young advisors who primarily text their friends and truly do not speak on the phone to them.