Established in 1941, the Morehead Group is a financial services firm providing strategic insurance solutions for affluent individuals and families. Located in Charlotte, NC, the firm has a team of three principals and seven associates who provide everything from underwriting and policy evaluation to client services and administration.

Kenneth Samuelson, one of the firm’s principals, brings over twenty years of experience in the financial services industry to his clients. With this experience, Samuelson places an emphasis on technology to get the maximum potential out of his operations. “I refer to it as tightening the bolts,” he says. “We need to get as much as we can out of our technology investments and make our operations faster and more efficient—and make our staff happier.”
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Every time I write one of these blogs, they’re always popular. People like to see all the creative ways that Laserfiche customers are using their systems to stretch their budget dollars as far as possible – especially in today’s difficult economic climate.
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One of the top entomology departments in the U.S., Texas A&M University (TAMU)’s Department of Entomology offers outstanding academic programs for undergraduate and graduate student preparation for careers in research, extension, business or industry. In fact, in May 2007, the department began offering a new degree in Forensic and Investigative Sciences, accredited by the American Academy of Forensic Science – the only accredited program in Texas and the Southwest.

But with state facilities in College Station, TX, a major USDA entomology research laboratory, and members of the department’s graduate faculty stationed in nine major agricultural areas in the state, sharing information efficiently had become problematic for department staff.
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Texas A&M University (TAMU) is one of the largest universities in the U.S., both in terms of enrollment and physical size. With nine system schools and two campuses, as well as a main campus with over 100 buildings on over 5,200 acres, TAMU faces a unique challenge in sharing information.

Relying on paper was an inefficient use of TAMU’s monetary and staff resources. In addition, board requirements frequently limit the amount of office space to conserve space for classroom and labs, so space used for paper storage was at a premium. What little space was available could have been better used for professors’ offices.
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Credential Securities, Inc., employs more than 2,000 staff and representatives who provide integrated wealth management solutions and services to Canadian credit unions, with over $10.8 billion in assets under management. But helping clients achieve their financial goals came with a price—overstuffed file cabinets, difficulty locating information and the stress of complying with regulatory requirements. Full story »

When we last heard from Joseph Salpietro, President and CEO of Xpyria Investment Advisors, he was looking forward to implementing Workflow to streamline his Firm’s repetitive work processes. As one of the first Avante customers in the financial services industry, one of the reasons Salpietro chose Avante was because of its built-in business process management (BPM) functionality.

“A lot of people think if you have an office in a metropolitan city that the highest cost to a business is rent, it’s not. It’s the people we employ. So I’d rather have them doing mission-critical, profitable work.”
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Transamerica Financial Advisors, Inc. (TFA), an indirect subsidiary of AEGON N.V., provides investments and financial planning to clients nationwide. With a network of more than 700 registered representatives, 42 offices of supervisory jurisdiction (OSJ) branches and 51 home office staff, TFA is a rapidly growing enterprise whose independent representatives faced the growing cost of paper-based processes: misplaced documents, time-consuming manual workflows, express-mail costs and file storage expenses.
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“Our decision to go paperless was driven not by cost or budget issues, but by the desire to grow our business, tame a paper monster that was consuming every available square foot of office space, improve our customer service, and keep up with a rapidly-changing financial planning industry,” says Blake Woodard, Managing Partner of Woodard Insurance, LLP, a Fort Worth-based firm of financial advisors and insurance professionals.

“In our view, we had no choice as to whether to go paperless. You must go paperless if you want to survive and thrive in the financial planning industry,” he adds. Full story »

The Daviess County, IN, prosecutor’s office, located in the basement of the county courthouse, isn’t the biggest office to start with. But with files stacked from the floor to the ceiling, it was clear that the office, home to three prosecuting attorneys, desperately needed more room.

Thanks to Prosecuting Attorney G. Byron Overton, they’re getting it. Overton and his staff are working with Laserfiche reseller Nancy Mathes of Paper-Lite to scan and store files electronically in Laserfiche. “We’re not going paperless,” Overton says. “We’re going file-less.”
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On March 3, the building housing Cologne’s historical archive collapsed into a nearby metro tunnel.

The actual degree of damage to the historical documents housed in the building is still unknown, with a substantial part of the written records of the city’s history believed to have been destroyed. In fact, recent accounts estimate that 90% of the archive’s records were buried in the collapse and may not be recoverable. The archive’s director estimates that they’ve only digitized a “tiny fraction” of their holdings, which includes the private estate of Nobel Prize-winning author Heinrich Boell.
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“Personally, I think that every financial advisor has to move eventually to an electronic filing system. It’s not a matter of if, but when,” says Nick Cosentino, president and founder of Financial Foundations, Inc. “In my opinion, it would be impossible to succeed without it.”

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I was watching the series finale of “ER” last night, which normally wouldn’t make you think of Laserfiche. But as I watched an intern escort a group of medical students around, and as he stopped at the paper chart holder and explained how their paper-based workflow worked (or didn’t, as the case may be), I couldn’t help but think …

Wouldn’t this be a lot easier with a document management system?
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The Challenge

The strict oversight of the Isle of Man Government’s Financial Supervision Commission (FSC) means that independent financial advisers require a secure, enterprise-wide platform for tracking and managing both paper and electronic records. Proliferating work process documents, extensive audits and strict records-retention rules leave many financial services firms struggling to maintain productivity in a highly-competitive industry.

For Jon McGowan, managing director of MAC Financial, these challenges multiplied with his business’s increasing success. With three major acquisitions in three years, McGowan and his staff were dealing with more customers, more work and significantly more paper. They needed a solution that would not only organize their records, but would also assist them in following compliance directives. Whatever solution they chose had to have enterprise capabilities, be able to manage a large volume of documents and integrate with their customer relationship management (CRM) system to enable fast, efficient and flexible client service.

It took less than half a day for MAC Financial to implement a Laserfiche solution, enabling instant document retrieval and freeing up an entire floor of office space. Now, MAC Financial runs more efficiently, saving time, money and staff resources while increasing revenue.
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