"I don't recall saying that." Or "I don't recall agreeing to that." How many times have we heard a client or colleague say something along those lines? This is especially true for financial professionals who are working as real estate agents or stockbrokers or dealing with any other types of assets, making hundreds of mobile calls per day.
This is one of the reasons why professionals need to record mobile calls. But, of course, the same thing goes for archiving your text messages.
Having an organized record of your voice and text communications can do wonderful things for your business. And if you don't know how to record calls yet, today is your lucky day!
We're going to dive into all the ways you can keep track of your mobile calls and text records.
So, stick around! Reading this one is going to be worth it.
Table of Contents
How To Record Mobile Calls
Now that you understand the importance of recording your calls as a financial professional let's go over how you can record these calls. Each device is different, but we're going to break things down in a way that covers most, if not all, devices. Here we go.
Recording In the Past
Nobody wants to try to fumble with an external microphone to record their calls. You need to make sure the microphone is pointed at the phone properly, you need to time hitting both buttons perfectly, and you need to worry about whether or not the volume is high enough.
You'll still be able to record calls. It's just more of a pain to have to make and record your calls on two separate devices.
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Recording With iPlum
"There's an app for that." With iPlum, we're the app for finance professionals. We do what it takes to keep you compliant. Sure, there are other platforms you could use to record your calls. But, why?
iPlum keeps your calls on one easy-to-use dashboard. All of your call recordings can be easily accessed and archived. The easiest way to record and manage your mobile calls is by using iPlum. This app is the best option for compliant call recording for financial professionals.
iPlum can be configured for a second phone line on your smartphone or mobile device. You don't have to change your carrier, and iPlum can be used strictly as a "business communication" device. This enables you to separate your business contacts from your personal ones neatly.
iPlum's compliant recording also provides you with a high level of privacy and security. All data stored and used by the app is completely encrypted. iPlum can offer you everything you need to run your financial business professionally.
You don't have to worry about compliance. iPlum has done all of the hard work for you.
All mobile calls and text message conversations can be accessed from your iPlum portal. You can create sub-accounts within iPlum for every member of your team.
You'll be able to archive any text message conversations you have with clients. iPlum will even hold on to audio files for both incoming and outgoing calls. You won't have to waste any storage space on your device.
Switching to iPlum is easy too! You don't even need a new number. The iPlum team will help you seamlessly port your current business phone number over to iPlum and configure it as a separate second line on your mobile.
Texting With iPlum
Financial professionals can put their minds at ease. There is no need to keep track of confusing archive files and text conversations. iPlum makes compliant texting simple.
Our mobile app offers a platform with secure text archiving. That means you can comply with Dodd-Frank without even lifting a finger.
We understand. You have enough on your plate with your job as a financial professional. Let iPlum take care of the hard stuff for you. Now, you can focus on what's most important, serving your clients.
If you'd like to see more details about how iPlum's compliant texting platform works, feel free to visit our website and request a product demo.
Don't Take Our Word For It!
Our current clients have nothing but great things to say about what the iPlum platform has done to transform their business. Professionals from all walks of life, and all industries, have been able to use custom voicemail greetings, set up business hours, and sleep easy with our compliance features.
Many people have made the choice to use iPlum and are having fantastic results. Maybe it's time you thought about making the switch. Let us help you take your business to the next level!
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Why Record Mobile Calls?
You might be wondering why you should care about recording your mobile calls. Well, aside from all the customer service benefits, it may also help you save your job as a financial professional.
2008 was a crazy time for everyone in the financial realm. The real estate market was melting, and big banks like Lehman Brothers were closing. So the soaring real estate market of the early 2000s finally came to a screeching halt. And it felt like the entire country had been surfing this amazing wave that ended up leading us straight off of a cliff!
In the wake of the 2008 financial crisis, leaders of the financial industry from around the globe decided to make some serious changes. One of these changes was the implementation of Dodd-Frank Legislation.
Dodd-Frank became law in 2010. The main goal of these laws is to bring more security, transparency, and stability to the world financial system.
One of the measurements taken by Dodd-Frank to increase transparency was mandating the recording of all phone calls and text messages by financial professionals. The reason for this was for consumer protection.
Lawmakers needed to take steps to ensure consumers were no longer receiving poor or fraudulent financial advice. This was a big problem during the mortgage crisis. The law requires financial professionals to record all mobile calls and text communications.
It also requires financial professionals to keep archives of those calls, so they are available for access at a later date.
Does This Apply to Me?
So, does Dodd-Frank apply to you in the financial sector? To be on the safe side, we would advise you to assume that yes, it does. "Better safe than sorry," as the saying goes.
As far as who is liable under this legislation, Dodd-Frank says this rule applies to anyone buying, selling, or advising when it comes to financial products.
The 2008 crisis was a teachable moment for all of us in the financial sector. Good, hard-working people lost their life savings due to the actions of a few dishonest "professionals" in the industry. Because of that, the Federal Government doesn't really mess around when it comes to Dodd-Frank.
Recording mobile calls and texts are something that needs to be done company-wide. Even any contractors or sub-contractors you work with need to make sure they comply with the law. The last thing you want is to compromise your business because a sub-contractor you've barely worked with didn't have their records in order.
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Know The Law
In addition to Dodd-Frank, there are some other rules and regulations governing the recording of mobile calls. The Federal Communications Commission (FCC) also monitors the recording of phone calls.
Concerning the FCC, every state in the country can be either a "one-party" or "two-party" state. In one-party states, you can record your calls without notifying the person on the other end. However, in two-party states, both parties need to be aware that the call is being recorded as soon as the call begins.
This is why you'll hear a lot of major companies play recorded messages that say, "This call is being recorded for quality and training purposes." It's important to do your research to make sure you comply.
It's A Wrap
We've reached the end! We hope you found value in this article, and that you understand there are easier ways to record mobile calls. Financial professionals make hundreds of calls a day. Maintaining compliance and greater customer service can become a challenge with that type of volume.
Recording your mobile calls with a sleek and efficient platform can significantly upgrade your business. It can give you the ability to remember all of your client's requests and concerns. And, as a financial professional, it can even help you to keep your job.
If you have any questions about what iPlum can do for your financial business, contact us today. Even if you have more general questions about recording mobile calls, we'd be happy to help.
We look forward to becoming part of the team and putting your mind at ease when it comes to recording your mobile calls.
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