The latest digital and technology innovations, product and service developments in the world's wealth management sector.

This week, Omaha-based Orion Advisor Solutions partnered with Apex Advisor Solutions, a subsidiary of Apex Fintech Solutions, to launch a digital account-opening solution for advisors and their clients.

Using Apex’s digital API suite, Orion’s Automated Account Solution will help to transform account opening and client relationship management so that advisors can accelerate new business growth, the firm said in a statement this week.

“The traditional, paper-based onboarding process is time-consuming and cumbersome, making it challenging for independent advisors to compete with larger institutions that can handle small accounts at scale,” said Eric Clarke, founder and chief executive officer, Orion Advisor Solutions.

“With our Apex integration and Automated Account workflow, advisors are now equipped with the resources to better service investors with smaller accounts and simple financial planning needs,” he added.

Integrated with Apex’s digital-first custody platform, Orion’s Automated Account Solution offers advisors and their clients access to a simple financial planning tool. Advisors can open and fund accounts with Apex directly from Orion’s white-label client portal, the firm explained.

Advisors send a link to the client or prospect and, in under five minutes, they’re guided through a fully-digital onboarding and financial planning workflow. A self-guided prospect or client can complete the onboarding steps on their own, or the advisor can conduct the initial data entry and pass the financial plan to their client for final sign-off. The integration between Orion and Apex also streamlines document management, making it easier for advisors and their clients to share, sign, and store important paperwork, the firm added.

“Not having to walk a prospect through an antiquated onboarding process of mailing documents and waiting for signatures is a huge advantage,” said George Gay, chief executive officer, First Affirmative Financial Network, LLC. â€śThe powerful pairing of Orion’s advisor technology and Apex’s digital-first custody will allow me to convert prospects at scale, broaden my client base and gain a competitive advantage,” he added.

“Advisors now have a single portal that supports the journey from prospect to lifelong client that includes fully-digital onboarding, a comprehensive planning tool, document vault, balance sheet, wealth management and custody solution all integrated together,” said Brian Morgan, director of Product, Financial Planning, Orion Advisor Solutions.