Fully digital account opening and onboarding is all the rage these days between two major custodians. On the heels of multiple announcements by Charles Schwdab where digital account opening was reiterated as a priority, Fidelity Clearing & Custody Solutions announced Monday availability of its own new, fully digital account onboarding experience in the firm’s Wealthscape platform for advisors.
In Fidelity’s announcement, the firm stated that beyond creating greater efficiency for advisors, the experience simplifies onboarding for their clients by reducing the volume of information they review throughout the onboarding process by nearly 20%. The firm also stated that this rollout is just the first in a series of Wealthscape platform enhancements planned for 2020.
Among some of the other Fidelity Wealthscape updates are a further streamlined user interface for advisors that cuts down on the number of fields by 40%, according to the firm. Advisors will also see improvement in “pre-fill capabilities” whereby new accounts can be more quickly populated by pulling in data from Fidelity’s books and records.
