A 5-Point Checklist for Evaluating Brokerage Statement Scanning Software

If your advisory team is stuck dragging client statements into a spreadsheet, chasing down missing cost basis, or double-checking holdings because your scanning tool missed half the tickers - the problem is costing you more than time. The right brokerage statement scanning software is the backbone of efficient onboarding, streamlined compliance, and hyper-personalized investment proposals. But not all platforms are built for the intensity and nuance of real advisory work. Here’s the checklist you can use when evaluating a solution that goes beyond the basics - so you can onboard faster, mitigate risk, and scale high-value service, not admin work.

1. Data Capture Accuracy - Even With Real-World Messiness

Client statements arrive in all forms: pristine PDFs, blurry phone photos, bundled scans from legacy custodians, even with handwritten notes. If your platform falters here, every downstream workflow is at risk.

• Look for a solution that goes beyond standard OCR with AI-powered parsing and error correction. For example, Investipal’s brokerage statement scanner ingests PDFs, images, and even handwriting - instantly structuring portfolio data without manual entry.
• Demand high reliability on complex statement types, multi-page documents, and embedded graphics. Small errors multiply fast when used as the basis for proposals and compliance.

2. Depth of Portfolio Data Extraction & Structuring

Time savings and compliance gains only materialize if the scanner captures ALL the portfolio data you need - not just symbols and balances.

• Look for extraction of every key field (ticker, quantity, cost basis, tax lots). This powers instant risk and tax analysis without manual clean-up.
• Verify seamless export and integration: can you move the structured data directly into your proposal or compliance engine? Or are you still spending hours cleaning, mapping, and formatting after the "scan"?
• Beware shiny features that don’t flow into your actual workflows. Choose a tool with value that persists beyond initial data extraction.

3. Automation From Intake To Proposals & Compliance - Zero Manual Bottlenecks

Bottlenecks kill client experience and productivity. Best-in-class platforms let you go from messy documents to compliance-ready proposals and regulatory documents in minutes, not days.

• Assess if every stage from statement ingestion to proposal generation and compliance documentation is automated. For example, with Investipal, scanned portfolio data flows instantly into proposal and compliance templates, cutting onboarding cycles from weeks to minutes.
• Does the tool trigger drift alerts and ongoing monitoring? This is essential both for AUM retention and for regulatory alignment.

4. Security, Compliance, and Audit-Readiness

Advisors and firms are under ever-increasing regulatory scrutiny. Every client data touchpoint is a potential compliance minefield and liability if mishandled.

• Require SOC2 Type II compliance, advanced encryption, and strict data segregation by default. This is non-negotiable in today’s risk environment.

5. True ROI (Hours, Errors & Client Wins)

Most advisors underestimate the cost (and risk) of manual data entry, double-checking, or re-creating analyses due to partial scanning. But hourly admin costs and lost client confidence add up - fast.

• Quantify the hours saved per account: top solutions cut 3–5 hours per statement for onboarding and upkeep, freeing up advisor time for high-value planning and relationship work.
• Calculate the cost of errors avoided: one missed holding or misclassified asset can undermine proposals and raise compliance risks.

What Sets Investipal Apart?

We’ve built Investipal’s brokerage statement scanning with real advisory firms in mind - not just back-office operational efficiency, but every workflow from prospecting through proposal creation, risk assessment, and regulatory compliance. Our platform is engineered to:

• Intake any brokerage statement or file type - PDF, PNG, even smartphone photos.
• Extract and structure complete portfolio data, powering instant proposal and compliance document generation.
• Push data directly to proposal, risk, allocation modeling, and compliance tools - eliminating friction from intake to account conversion.
• Deliver enterprise-grade security, privacy, and audit-readiness with SOC2 Type II certification and advanced encryption as standard.

If you’re ready to eliminate manual onboarding, unlock fast, compliant proposals, and win more client trust, book a personalized Investipal demo today. We’ll scan your actual statements live, so you can evaluate true performance—no generic promises or sample files.

See Investipal’s automated statement scanner in action—book your product demo now.