Drowning in Paper!!
We’ve all experienced it. The excitement and joy when you open the mailbox and see a big stack of envelopes! This is soon followed by the frustration and despair when you realize it’s yet another mailing from LPL Financial or a fund company for each and every account you have. How can you make it stop!?!
This is one of the most frequently asked questions we receive. Unfortunately, we can’t stop all the paper – some mailings are a part of federal regulations and requirements and they must be mailed. But, there are ways that you can limit what you receive – but beware! It’s not a one-step process. It will take a commitment on your part, but in the end, you should be happy with the results.
Step 1. Sign up for Account View.
Have you signed up for Account View yet? If yes – GREAT! You’re a step ahead! If not, now may be the time! Why would you sign up for Account View… here are some great reasons:
- It provides accurate information about your investments—at your fingertips.
- Secure online access and electronic delivery of statements help protect you from the possibility of mail fraud and identity theft.
- It’s continually updated, unlike the traditional paper statement that’s outdated the moment it’s printed.
- A simple interface allows easy navigation through accounts, positions, transactions and statements; and provides an intuitive, clear experience.
Still not convinced? Watch this short 3 minute video on the benefits of signing up for Account View: http://sproutvideo.com/videos/4c9bd8b1181ae4c7c4
Ready to sign up! Call our office at 336.544.6800 and speak to Kelly Fisher, Client Service & Marketing Specialist, and she’ll be happy to set you up!
Step 2: Go Paperless in Account View
So now you have Account View access! It’s time to go paperless! On the top right hand side of your account view screen you’ll see the “Go Green Paperless” Tree. This will show you the percentage that you have gone paperless. Your goal should be to get to 100% green!
To go paperless click on the STATEMENTS tab. Next click on the GO PAPERLESS button at the top, right of the page. This will take you to a screen where you can choose which items you’d like to receive paperless including Advisory Performance Reports, Brokerage Statements, Trade Confirmations, and Prospectus. You will choose which email address you want the notifications to be sent to in this process.
Step 3: ICS Delivery
So, now you’re getting trade confirmations and statements through account view…. That’s GREAT! But, still the mail comes in! The next step is to reduce mailing using the ICS Delivery system.
First go to this website: https://www.icsdelivery.com/lpl/
This will take you to a sight where you can sign up to view shareholder communications, including annual reports and proxy statements online for those that are available electronically. (Note, some will still be mailed as it is the only method in which some companies us to distribute them).
Once on the site, you will need to enter all of the following information:
- Your 8 digit LPL Financial Account Number.
- Re-enter the 8 digit LPL Financial Account Number
- Enter your email address
- Re-enter your email address
- Create a 4 digit pin number
- Reenter a 4 digit pin number
- Check the box to indicate you have read the description of Service on the left.
- Click SUMBIT.
You should receive a confirmation email within 24 hours. If you do not, you will need to return to the site.
Please note you will need to do this for EACH of your LPL Accounts.
I just did this for my accounts and it only took a few minutes.
Step 4: Shredding
There will still be documentation that by law is required to be mailed to your address of record. We do not want you to throw that in the trash, especially if it has personally identifiable information on it. For those reasons, we are extending to our clients the opportunity to bring your items to our Greensboro office, and we will have them shredded by the professional shredding service that we use.
In our highly regulated industry there will always be paper. Unfortunately that is unavoidable. However, if you take the steps listed above for all of your accounts, then it should help reduce some of the volume of paper coming to your home each week. If you have any questions, please call our office and we will be happy to help you!