LPL Financial

Started automation with Account Onboarding processing, and it paid off

The leading provider to independent financial advisors in the U.S. implemented Intelligent Automation and achieved cost savings of $1M+

LPL Financial automation story
LPL financial logo

Key automated process:

Account application forms’ processing


  • $1M+ in manual effort cost savings
  • 10% of documents are processed straight-through
  • 20 seconds is the average processing time for 90% of documents

LPL Financial reduces account opening processing time by 80%, enabling growth for financial advisors

With over $1 trillion in assets under management, LPL Financial is the leading broker-dealer in the U.S. The company supports more than 19,000 financial advisors nationwide, serving more than 6 million American investors and opening thousands of new accounts every day. As part of a strategic initiative around automation, LPL deployed WorkFusion’s platform to tackle critical document handling tasks in service, trading and operations.

The result is 80% reduction in the overall processing time, with 10% of documents processed straight-through. The remaining 90% require minimal human intervention and are handled in an average of 20 seconds each.

The following impressive results were achieved:

  • Real-time processing and approvals
  • Faster account openings Increased employee satisfaction
  • Improved accuracy