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Paperless Office

BranchNet iDoc Document Imaging Technology

Saving you and your staff hours of valuable time and money

In our recent survey of LPL Financial branches, we found that, on average, filing cabinets take up to 30% of your valuable office space. And, as your business grows, so do your client files. On average, paper filing systems grow 22% per year.

BranchNet iDoc enables you to reclaim your office space and rest easy with a safe, efficient approach to business continuity. All the documents you store in BranchNet meet SEC rule 17a-4(f) for electronic file retention, so you’ll be able to safely remove the originals from your office.

Run Your Office More Efficiently
Research shows that support personnel can spend up to 60% of their time searching for and re-filing paperwork. This can be due to unorganized filing systems, the sheer volume of paper files to search through, or even misfiled documents. With BranchNet iDoc, you avoid wasting time searching for files.

You and your employees gain instant access to client documents from your desktops or any Internet connection, making it convenient to find and review important records even while on the phone or in a client meeting. Multiple people can also view a document at the same time and re-filing becomes a thing of the past.

Reducing Paper Can Increase Your Profit Margins
In general, the

paperless office

runs at a higher profit margin than a comparable paper-based office. This is due to efficiencies that drive cost savings.

For example:

  • If it takes five minutes to retrieve and replace a paper file and an employee works with 10 paper files per day, that's 216 hours a year – more than five weeks’ time spent walking files around. At $20/hour, that's $4,300 per year
  • Converting record storage rooms into usable office space enables you to make better use of expensive real estate. The average office space in the U.S. costs $19 per square foot. If you have a 1,000 square foot office and need 30% of it for client files, you could be using up to 300 square feet of it for filing cabinets. That’s $5,700 a year just for file storage

With less time spent on filing, you should also see an increase in productivity and client service, which should have a positive impact on your profits over time.

It’s Simple and Cost Effective

With BranchNet iDoc there is no equipment to purchase, no special software, no annual fees or storage costs.

Familiarity with the Client Browse section of BranchNet and a fax machine is all you need to get started. Best of all, you only pay a small per page charge for faxed documents.

It’s easy to use:

  • Fax your sample documents to LPL Financial and we’ll confirm the legibility of the images
  • You can then begin using the electronic documents just as you would the hard copies in your branch
  • We’ve even created a file structure guided by Compliance so that your electronic files will be organized in the same order as they are in your branch today
  • A complete file history will be maintained and serve as an audit trail for you should someone in your office need to relocate a document