This new capability reduces the time and effort it takes to open new accounts and transfer assets by enabling advisers and RIAs to provide clients with online account opening documents that can be completed and authorized by utilizing an electronic signature feature, Pershing said. It also gives Pershing’s customers and their clients a cohesive transaction experience by virtually eliminating paper-based forms.
The solution will also help introducing broker/dealer firms, advisers, and RIAs monitor the account opening process and the status of their clients’ new accounts in real-time.
RIAs can access this solution through Pershing’s affiliate, Pershing Advisor Solutions LLC, via its NetExchange Advisor workstation. Pershing’s introducing broker/dealer customers and their investment professionals will be able to access the solution through its NetExchange Pro workstation later in the year.