Apex Clearing announced on Thursday that it has entered into a partnership with FolioDynamix to create customer-facing technology tools.
FolioDynamix will provide turnkey investment technology, while Apex will provide automated and expedited account opening and verification.
“Apex Clearing has been at the forefront of financial innovation for years, with our technology able to eliminate the paper-laden onboarding process and reduce the time it takes to open, verify and fund an account from days to literally minutes,” Bill Capuzzi, CEO of Apex Clearing, said in a statement. “Our exciting partnership with FolioDynamix allows us to help usher even more investment advisors into the digital age and provide their clients with the kind of efficient, responsive experience they have come to expect and demand in all aspects of their lives.”
FolioDynamix President and COO Steve Dunlap noted that account opening and client onboarding is an industrywide pain point. “Apex has committed its resources to digitizing the entire custodial experience, placing itself on the leading edge of transforming this archaic, cumbersome and paper-driven process,” he said in a statement. “We’re thrilled to partner with this team to scale that process and deliver the delightful user experience that our customers are looking for.”