Case Study: Eagle Peak achieves compliant text archiving for financial advisors with iPlum

Eagle Peak adopts iPlum to archive texts and calls for up to 10 years

Eagle Peak Brokerage, a financial services firm, faced the challenge of ensuring regulatory compliance for text message communication between its advisors and clients. Their advisors were using personal smartphones for business, creating off-channel messages that existed outside the firm's approved recordkeeping system and exposing them to potential SEC and FINRA penalties. To solve this, they implemented iPlum's financial mobile compliance solution.

The solution from iPlum provided each advisor with a dedicated business line on their existing smartphones, automatically archiving all business texts to WORM-compliant storage for up to 10 years. This allowed Eagle Peak to separate client communication from private messages and gave compliance officers secure access to encrypted, searchable records through a web portal. As a result, the firm gained a complete, tamper-proof archive of calls and texts, ensuring regulatory compliance and eliminating the risks associated with off-channel communication.

Eagle Peak