Pershing's paperless account opening solution is among the first of its kind to be widely available to introducing broker-dealer firms and RIAs. This new capability enables investment professionals and independent registered investment advisors to provide their clients with online account opening documents that can be completed and authorized by utilizing an electronic signature feature. It also significantly reduces the time and effort it takes to open new accounts and transfer assets, and provides Pershing's customers and their clients with a cohesive transaction experience by virtually eliminating paper-based forms. In addition, the solution will help introducing broker-dealer firms, investment professionals and RIAs monitor the account opening process and the status of their clients' new accounts in real-time.

Independent registered investment advisors can access this new capability 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.

Suresh Kumar, chief information officer at Pershing, said, "We understand how critical it is for RIAs and introducing broker-dealers and their investment professionals to focus on delivering cost effective and exceptional client service. The introduction of this integrated online account opening solution via NetExchange Advisor and NetExchange Pro relieves our customers of the burden of cumbersome operational support and makes it easier for them to conduct and grow their businesses."

NetExchange Pro is utilized by over 100,000 investment professionals and provides access to a wide array of tools, services and business solutions. Through NetExchange Pro, investment professionals can access account information, quotes, investment research, news and third-party content from a wide range of leading providers, including Dow Jones Newswires, BNY Jaywalk, NaviPlan and Standard & Poor's.

NetExchange Advisor provides independent registered investment advisors with a comprehensive set of tools to effectively manage their clients' investment portfolios and perform daily operational tasks that create efficiencies in cost and productivity. These include powerful trading tools that enable advisors to build model portfolios and execute orders for groups of accounts as well as manage and record orders executed at other firms.