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