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Online Capability Helps Advisors to Simplify
The Opening and Funding of New Client Accounts
BOSTON, August 11, 2008 -- Fidelity Investments today announced a new Web-based e-signature capability designed to help independent registered investment advisors (RIAs) automate the new account opening process.
Fidelity's e-signature capability will allow advisors, and their clients, to electronically sign all documents, including Fidelity and advisor-specific forms, required to establish and fund a brokerage account. To support its e-signature capability, Fidelity has established a strategic relationship with DocuSign, an industry leading provider of e-signature technology and electronic contract execution services.
Because it automates the new account opening process, Fidelity's e-signature capability eliminates the need for advisors to send account forms through the mail to clients or have them physically come into their office to sign paperwork -- processes that can generally take days or weeks. As a result, this new capability enables a more rapid and efficient process for establishing and funding new accounts.
"Our investment in this new e-signature capability is indicative of our belief that service in our industry must be transformed to maximize a firms' success and deliver a great experience for end clients," said Ed O'Brien, senior vice president, Fidelity Institutional Wealth Services. "By making it easier to manage the process of opening new accounts, advisors can reduce their administrative burden and free up more time to spend with their clients. And clients, in turn, have access to the convenient electronic capabilities they've come to expect in many other facets of their life."
"Using technology such as e-signature in a high-tech, high-touch manner can help advisors unlock the opportunity for more personal and comprehensive relationships with their clients," added O'Brien.
Using Fidelity's e-signature capability, an advisor will be able to collect new client data through his customer relationship management (CRM) application to pre-populate fields within all required Fidelity and advisor forms, which are sent to the new client for their electronic signature. Once all forms have been e-signed by the client, the advisor is able to download and forward the forms electronically to Fidelity for account opening and funding, generating and returning the account number in real time. Fidelity then sends an electronic notification to the advisor along with a status number, enabling the advisor to track progress and status of the transaction.
Fidelity recently began piloting its e-signature capability with a group of advisor clients, including the Retirement Corporation of America.
"Integrating this type of technology will significantly enhance our overall efficiency in establishing new investor accounts," said Dan Kiley, Chief Executive Officer, Retirement Corporation of America. "Fidelity's e-signature capability will enable us to extend our investment advisory services to the children and grandchildren of our existing retired client families thereby contributing to the overall growth and profitability of our firm, while at the same time allow us to reduce expenditures on paper, ink and postage."
Fidelity's e-signature capability will be made available to a broader base of clients later this year and will be included as a feature within Fidelity WealthCentral® in 2009. Fidelity WealthCentral® will be the industry's first Web-based wealth management platform that integrates RIA's most critical operational systems, including portfolio management, CRM and financial planning, into one unified workstation.
"Like all of our technology-driven solutions, our investment in building an e-signature capability reflects Fidelity's ongoing commitment to offering advisors an open, scalable platform that helps simplify workflow, increase operational efficiencies and grow more profitable practices," said O'Brien.
About DocuSign
DocuSign is the leading provider of eSignature and electronic contract execution services, empowering individuals, small business and global enterprises to operate faster, more efficiently and profitably with enhanced security and compliance. DocuSign is the only Web-based service to fully automate the entire contract execution process. To date, more than 11 million signature events have been executed using DocuSign. Experience the service at www.docusign.com, and for regular updates go to www.docusign.com.
About Fidelity Institutional Wealth Services
Fidelity Institutional Wealth Services is a leading provider of trading, custody and brokerage services to Registered Investment Advisors, Trust Institutions and Third Party Administrators. The company is able to leverage the capital, resources and expertise of the Fidelity organization, one of the world's largest financial services companies, on behalf of its clients. This includes access to a comprehensive set of products and services, innovative investment tools and research, an integrated brokerage and trust platform, and dedicated client service professionals -- all designed to help its clients thrive by growing their businesses, more effectively meeting customer needs, and enhancing operational efficiency and profitability. Fidelity Institutional Wealth Services custodies more than $355 billion in assets on behalf of over 3,800 clients, as of June 30, 2008. For more information about Fidelity Institutional Wealth Services, please visit http://fiws.fidelity.com.
About Fidelity Investments
Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $3.3 trillion, including managed assets of more than $1.5 trillion as of June 30, 2008. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to 24 million individuals and institutions as well as through 5,500 financial intermediary firms. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.
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DocuSign is an independent company and is not affiliated with Fidelity.
DocuSign, the DocuSign logo and PowerForms are trademarks or registered trademarks of DocuSign, Inc. in the United States and/or other countries.
Fidelity Investments & Pyramid Design and Fidelity WealthCentral are registered service marks of FMR LLC
Clearing, custody, or other brokerage services may be provided by National Financial Services LLC or Fidelity Brokerage Services LLC, Member NYSE, SIPC.
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