What You Need to Know
- Orion has grown to support more than 2,200 advisory firms with $1.7 trillion in AUA, CEO Eric Clarke told Ascent attendees.
- The company has increased the number of its integrations to almost 100 third-party tech providers.
- New solutions revealed at Ascent include Orion Cash and Credit, a joint venture with Focus Client Solutions.
Orion Advisor Solutions spotlighted its growth, key recent M&As and new advisor solutions on Tuesday, the first day of its Orion Ascent conference in Scottsdale, Arizona, the firm’s first in-person user conference in two years due to the COVID-19 pandemic.
The company supports more than 2,200 advisory firms with $1.7 trillion in assets under administration, according to Orion CEO Eric Clarke.
The 1,200-person firm also has “integrations with nearly 100 third-party tech providers,” he told attendees and those viewing the conference virtually.
Those numbers represent “amazing growth at Orion,” Tim Welsh, president and CEO of Nexus Strategy, said in a tweet.
Orion had an additional $54 billion of combined platform assets between Orion Portfolio Solutions and Brinker Capital on its open architecture TAMP as of June 30, after the merger of Orion Advisor Solutions and Brinker Capital, announced in June 2020, according to Orion.
“Post-merger, we’re now the fourth-largest wealth management platform, or TAMP as the industry calls us, and today we serve more than 10,000 financial advisors and have over $55 billion under management,” Noreen Beaman, Orion president and former Brinker CEO, told attendees.
“Independent advisors are the fastest-growing segment in wealth management,” Clarke said. “Assets managed by independent advisors have nearly tripled over the past decade and continue to grow.”