Morgan Stanley Gives Reps the OK to Text Clients

On Tuesday, Morgan Stanley gave its 15,777 advisors the ability to work with clients via text messaging. It also rolled out an online course in sustainable investing.

The wirehouse’s texting plan is part of its broader digital strategy and is facilitated by its partnership with Twilio, which will archive the messages.

“Interactions between financial advisors and clients should be easy and reflect how people communicate in other aspects of their lives. In response to one of the top requests from our financial advisors, we are enabling them to make more convenient and effective connections with clients where they communicate most,” said Naureen Hassan, chief digital officer of Morgan Stanley, in a statement.

The wirehouse says it is in the process of introducing the texting capabilities to its advisors. Next, it will add other applications and functions, such as video technology for reps to use when contacting clients.

“Twilio has been at the forefront of providing businesses with the scalable technology they need to better interact with their clients, and this partnership demonstrates how we can help highly regulated industries effectively engage clients,” said Jeff Lawson, Twilio CEO, co-founder and chairman, in a statement.

“With the accelerating growth of new communications channels through which clients prefer to interact, Twilio’s APIs allow institutions to adapt to their clients’ needs,” Lawson said.

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