You are able to change an entity's status within WealthWorks+. This video tutorial will show you how.
Please note the 'Pending' status is not available as an option to select, as this status is for entities being managed by the onboarding process. You can find out more about the onboarding process here.
Tutorial Transcript
To change the status of an entity or a contact locate the appropriate record details and make sure you are on the General tab. Click on the Edit icon in the Names & References portlet to open up the edit screen. Then select the correct status from the drop-down list and click Save. Note, that the pending status is not available for entities as this is managed by the onboarding process. This also means you cannot change the status of a pending entity and you cannot revert an active entity back to pending.
This tutorial is confirmed to be applicable from WealthWorks+ release 4.4.