Every business day, more of our clients sign up to receive statements and transaction confirmations from their brokerage accounts electronically. The clients understand the many advantages provided by electronic delivery. Most obvious is the added security of receiving statements and transaction confirmations directly to a password-protected electronic filing cabinet, which makes it much more difficult for identity thieves to acquire this information.
However, there are other important advantages to electronic delivery of statements and transaction confirmations. By signing up for electronic delivery, clients can collectively have a significant impact on their environmental footprint. Many times, this analysis focuses on the amount of paper that can be saved. It is true that this is an important component of the overall savings. For a client that does only 1 trade a month and whose average statement is 5 pages, the savings add up to seventy-two pages and twenty-four envelopes per year. Keep in mind that in addition to these direct savings, there are indirect savings, too. Each of these statements and transaction confirmations have to be shipped by some combination of planes, trucks and delivery vehicles on their journey from printing center to the client’s mailbox.
Finally, clients who sign up for electronic delivery are able to get their statements and transaction confirmations sooner than those who continue to rely on paper. Once the statement or transaction confirmation is electronically “printed”, it is available for access by the client almost immediately. Clients wishing to rely on paper copies must wait for those items to be physically printed, stuffed into an envelope and transported by the USPS to their mailbox. And, of course, clients who choose electronic delivery are able to access their items from anywhere in the world they have access to an Internet connection. With paper copies, the client must physically be at the delivery address to receive their item.
We hope all of Summit Brokerage‘s clients who still rely on paper statements and transaction confirmations will strongly consider the benefits of electronic delivery. It is good for our clients and good for our planet!