Financial Technology

Financial Technology

November 28, 2012

DocuSign Speeds Up Document Processing for LPL Financial

LPL Financial, an investment company formed by the merger of Linsco and Private Ledger, offering financial planning, research, investments and management, has added technology that will speed up document processing for its advisors.

DocuSign’s eSignature allows advisors and their clients to electronically sign documents and send them to LPL, increasing efficiency by reducing paperwork and speeding the process.

LPL said the new tool will boost productivity by streamlining account opening, automate routing to multiple signers, automate tracking of pending documents and client reminders, provide the ability to sign documents on mobile devices, and enhance auditing and risk management.

More than 23 million DocuSigners have signed more than 220 million documents in more than 188 countries, nearly 60,000 unique new DocuSigners DocuSign for the first time every weekday, 50 percent of DocuSign documents are completed within two hours, more than 150,000 documents (containing more than one million pages) are DocuSigned on the DocuSign Global Network each day, and 90 percent of the Fortune 500 have used DocuSign.

Christopher Giles, a senior vice president of advisor-facing technology at LPL, said eSignature could reduce that amount, resulting in a significant savings in paper, paperwork and office-keeping tasks.

“We are always seeking new ways to enhance the ability of financial advisors to maximize their time spent on the client-facing aspects of their business while eliminating extraneous tasks and providing a superior service experience,” said Giles in a statement. “The launch of DocuSign’s eSignature solution is an important step forward for LPL Financial, our advisors and their clients.”

DocuSign recently introduced digital signatures, which allows customers import digital certificates they already own. If they don’t have any signatures, the company has numerous certificate partners from whom the users can buy their very own digital signatures. Companies and organizations utilize the services offered by DocuSign to get legally binding eSignatures, saving time and money as the companies don’t have to spend on postage and photocopies. It also provides completely automate end-to-end business processes, which makes business easier and faster, the company stated.

DocuSign’s eSignature is available free to advisors and their clients through LPL's BranchNet technology platform.

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Edited by Brooke Neuman

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