The collaboration will bring about an all-electronic approach to paperwork and account setup and will enable the clients of Personal Capital to quickly and securely establish advisory accounts.

Commenting on the move, Bill Harris, founder and CEO of Personal Capital said: "Personal Capital bridges the gap between technology and financial services, creating an interactive and personalized experience for customers seeking tools to simplify their financial lives."

"Our goal is to simplify the money management process for our customers. By working with Pershing Advisor Solutions to make the sign-up process for our investment clients even easier, we are able to save them time and money," Harris added.

The strategic initiative between Personal Capital and Pershing Advisor Solutions will lead to customers being provided with access to a simplified, secure account setup process; elimination of tedious paper documentation and signature processes to implement clicks and e-authentication for faster service; and reduction in the amount of time for opening and funding new accounts.

Chief Operating Officer of Pershing Advisor Solutions, Karen Novak, said: "By making the entire account setup process accessible electronically, customers are now able to open accounts in hours rather than days. We are excited to continue to provide solutions that maximize efficiency for growing advisory firms."