My company uses SMS for ~90% of our customer conversations. Today, the only way to utilize Front with a single phone number that customers can both call and text is through Dialpad (maybe Aircall as well, not sure).
It turns out conversation splitting isn't enabled for "custom" channels, such as the Dialpad SMS channel. Unfortunately, this means that tags are somewhat useless, as all SMS conversations appear as 1 long thread, with no ability to split the conversation into distinct segments.