To streamline document processing, LPL Financial has introduced DocuSign’s eSignature solution for all of its advisors.

The San Diego-based company said that it expects that the new technology, introduced Tuesday, will increase efficiency, reduce paperwork and improve both the client and advisor experience when signing and submitting forms to LPL. 

DocuSign, which is a leading electronic signature company, has made eSignature is available across LPL as part of its BranchNet technology platform at no additional cost to advisors or clients. 

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.

“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 Christopher Giles, a senior vice president of advisor-facing technology at LPL. “The launch of DocuSign’s eSignature solution is an important step forward for LPL Financial, our advisors and their clients.”

Giles said that LPL receives about 4 million faxes a year, and “eSignature could dramatically reduce that amount, resulting in a significant savings in paper, paperwork and office-keeping tasks. “