There are multiple ways to update the stages of an opportunity as it progresses. You can drag an opportunity between stages within the default “Pipeline” view:
You also can update an opportunity stage by clicking on the stage within the Opportunity page. A drop down list will appear to allow you to choose the appropriate stage. Click “Save” to keep the changes.
All stages are customizable by going to “Customizations” under the three dots in the upper right corner of Wealthbox > “Settings” > “Opportunities”: