Working closely with financial planning businesses, we are always on the lookout for new technologies to help advisors run their businesses more efficiently and effectively. The myriad of choices when it comes to choosing an archiving tool can be overwhelming. However, with the rise of compliance regulations not having an archiving solution is no longer an option. We’ve pulled together a few of our favorite archiving tools for social media, email, and text messaging communications.

Many advisors need archiving solutions not just for websites, like those offered by Twenty Over Ten, but als for other communications. The providers below are all good choices. (For more from Twenty Over Ten, see: 3 Key Steps to Craft the Perfect Online Presence.)

Archiving Tools for Email, Social Media and Messages

It is imperative that advisors are following compliance rules and regulations. Especially on social media as more and more advisors are starting to develop their online presence beyond a website. Here is a list of four of our favorite sites for social media archiving.

1. Smarsh

Smarsh provides cloud-based archiving and compliance tools for business owners in heavily regulated industries such as financial services. Smarsh is the recipient of many awards and one of the most dignified was the 2014 FTF Award: Best Social Media Compliance Solution.

Best Features:

  • Archives information via the cloud allowing you and your team to post from anywhere.
  • Supports 16+ of the most common social media platforms such as Facebook, Twitter, Google+, LinkedIn, YouTube, and Instagram.
  • High-performance searching feature enables you to find specific dates/time ranges, people, keywords, proximity and content types.
  • Add and define new policies at any time to minimize risk when rules and regulations change.
  • “Do it yourself” feature allows you to export your archives in a variety of formats without data-related fees.

What to Know:

  • Price: starter package $75/month, professional package $150/month.

2. Archive Social

If you are looking for an archiving solution specifically for social media, Archive Social is a good option. The archiving site was designed specifically with financial planners in mind. The fully automated tool simplifies complying with Freedom of Information Act (FOIA), FINRA and SEC rules surrounding record keeping. (For more from Twenty Over Ten, see: The Top 7 Website Mistakes Financial Advisors Make.)

Best Features:

  • Collects historical records from each social media account’s entire existence.
  • Add an unlimited number of accounts with unlimited storage of data.
  • Control the retention period of your records.
  • An open archive allows the public to search your sites record, putting transparency first.
  • Every post is archived in its original format in order to capture metadata often necessary for authentic records.

What to Know:

  • Price: economy package $199/month or standard package $399/month.
  • A limited number of social media accounts are currently supported by the app.

3. Global Relay

Global Relay provides cloud archiving for more than 45 data types, and is the message archiving vendor in FINRA’s Compliance Resource Provider Program. It captures and archives an authentic and complete record of your electronic business communications in a secure but easily accessible cloud repository. Going well beyond social media, Global Relay archives instant messaging, text messaging, email, voice, web-based chats, mobile and more.

Best Features:

  • Automation, ease of access, and rapid search speeds create an excellent client experience.
  • Designed to meet the strict recordkeeping and compliance requirements of the financial industry such as the rules in place by SEC, FINRA and FRCP.
  • Migration of legacy data so that you have all of your records in one place.
  • Efficient tool to quickly respond to regulatory audits and evidentiary requests.
  • Flexible supervision tools that easy flag prohibited content.

What to Know

  • Price: $7.79 per user + set up fees.
  • Exclusive discount for members of FINRA: $6 per user, per month + set up fees.

4. PageFreezer

PageFreezer is an archiving site that is built around complying with all FINRA, SOX and SEC regulations. It securely collects your online content automatically and in the required financial industry format. (For more, see: 5 Ways Financial Advisors Can Improve Website Content.)

Best Features:

  • Simplicity. PageFreezer’s easy-to-use portal allows for a quick retrieval of important data.
  • Real-time archiving with a timeline view of all of your past social media posts and interactions.
  • Captures direct messages on Facebook and private messages on Twitter.
  • Keyword filter that streamlines the search process during an audit.

What to Know:

  • Price: bundle of 3 for $75/month or bundle of 5 for $99/month.
  • Can only export archives as an excel spreadsheet.
  • Maximum of 5 social media accounts can be archived.

“The potential for fabricating or tampering with electronically stored information on a social networking site, thus poses significant challenges from the standpoint of authentication.” – Griffin v. Maryland, 2010

This article originally appeared on Twenty Over Ten.

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