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Orion Advisor Services Integrates With Advizr to Streamline Processes

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Orion Advisor Services has announced an integration plan with Advizr, a relatively new entry into the web-based financial-planning space.

“We’re always looking for new integration partners because it really allows the firms that we work with to enjoy their business and not have to worry about the technology side,” Joe Leyboldt. Director of Technology Support at Orion Advisor Services, said in an interview with ThinkAdvisor. “By providing these integrations, [it] really allows them to have a system that talks nice to other systems.”

Orion, one of the nation’s largest privately-held portfolio accounting provider, has more than 625 advisory firms with total assets under administration in excess of $225 billion from more than 1 million individual accounts using its technology solutions.

Meanwhile, Advizr’s goal is to streamline the planning process so that advisors, as well as clients, can create financial plans quickly.

The New York City-based Advizr offers advisors and their clients a view into aggregated bank and investment account data, monthly cash-flow analysis, goal-based wealth management recommendations and progress monitoring–all of which will benefit Orion’s advisors, according to Kyle Hiatt, Orion EVP of Business Development.

“Advizr has created compelling software with the core ideal of offering a simple, easy to navigate user interface that lines up perfectly with our own technology initiatives,” said Kyle Hiatt, Orion EVP of Business Development, in a statement.

Orion’s account management and performance reporting software will feed directly into Advizr’s streamlined financial planning application, allowing financial advisors to further streamline their processes to provide a higher level of service to their clients.

There is no additional cost or extra fee to establish the integration, Leyboldt told ThinkAdvisor.

“We house a lot of the financial account data on behalf of our customers and one thing that powers the financial planning system is that data,” Leyboldt told ThinkAdvisor. “So, making a partnership is really kind of a no-brainer. We have the data, being able to pass that data into the financial planning [software] and let their tools take over from there.”

Once advisors have enabled the integration, they will benefit from a plan that is already pre-populated with valuable data for bank, investment and loan accounts, allowing advisors to efficiently serve more clients.

Orion likes to give its customers options for what financial planning system they choose to use, Leyboldt said.

Other integrations Orion has with advisor-like platforms are firms such as eMoney, MoneyGuidePro, InStream and Riskalyze.

The Advizr integration adds another option for the firms Orion works with.

“Any time we can see an up and coming financial planning system, we jump on the integration with them,” Leyboldt told ThinkAdvisor. “It provides our advisors more opportunity to really try to provide good, sound financial advice to their end client.”

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