Transforming LPL Financial's Operations

Our team easily integrated with the in-house LPL Financials development team. We were involved in the ground up design and development building multiple applications.
in cost savings
8 months
turnover time
in yearly profit margins
client satisfaction


The Assistant Vice President - Operations Strategy of LPL Financial, a leading Financial Services Company, engaged BNMA to revitalize specific operational aspects of their software infrastructure.

The Challenge

LPL Financial faced significant challenges with their costly PDF generation system, incurring annual expenses of $4M. Additionally, various manual processes, including Rep List Maintenance, Advisor Onboarding Tools, New Account Review, Business Management, and Business Reporting, were inefficient, resource-intensive, and conducted through cumbersome emails and paperwork.

BNMA's Solution

BNMA was selected for their high ratings, geographic proximity, cost-effective pricing, cultural fit, and aligned company values. A team of 2-5 employees from BNMA embarked on the project with a goal to revamp the existing PDF generation system and streamline other manual processes.

The team's approach involved:

  • Redeveloping the PDF Generation System: Transforming the expensive and inefficient system into a more cost-effective solution.
  • Automating Workflow Processes: Converting manual workflows into streamlined applications, enhancing efficiency in various operational areas.


The collaboration with BNMA led to remarkable outcomes:

  • Cost Savings: The project resulted in nearly $40 million in cost savings.
  • Increased Efficiency: The streamlined applications developed by BNMA are now used by thousands of advisors nationwide, demonstrating a significant increase in operational efficiency.
  • Professionalism and Timeliness: BNMA’s team was noted for their professionalism, consistently meeting and often exceeding deadlines with their high-quality work.
  • Seamless Integration and Collaboration: The team's ability to integrate with LPL Financial’s operations amplified collaborative efforts, leading to a synergistic working relationship.

Technologies Used:

  • Database, WCF service backend, Entity framework driven and an MVC3 front end that process statement files for LPL
  • Developed a shell application in iOS to host LPL mobile site for advisors.
  • Overseeing the whole SDLC of new requirements for a set of existing applications that are inter-connected within Branchnet (LPL’s advisor facing website) to accommodate US regulations regarding client’s citizenship/residency status.
  • Our team built and helped in architecting an application within Branchnet framework to create PDF forms on the fly using Adobe’s XFA format and oversaw the complete lifecycle of new requirements to serve PDF forms within Branchnet and transition old PDF forms to new ones.
  • The application is designed in SOA architecture, with multiple layers. Most important: service layer (WCF) to communicate with the data layer, and a front end to display, and run reports.
  • We built and managed the full lifecycle of onboarding LPL reps. The application is called: New Account Review Release. Communicating with a different data stores, it helps LPL staff move an applicant in different stages of the application. It also permits viewing reports on LPL reps based on their status, dates of onboarding etc… The application is also based on SOA architecture, comprised of a service layer and a front end.


This case study highlights BNMA's ability to understand and address complex challenges in the financial sector, delivering solutions that not only meet but far exceed the initial objectives. Their expertise in software development and automation led to substantial cost savings and operational improvements for LPL Financial, showcasing the potential of strategic technological partnerships in transforming business operations.

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