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What You Need to Know

  • Orion will now focus on three strategic business lines: Advisor Tech, OCIO and TAMP.
  • The former CEOs of Redtail and TownSquare Capital, acquired by Orion this year, are presidents of two of the units.
  • The shift comes after a series of M&A deals in the past couple of years.

Orion Advisor Solutions has realigned its operations, saying Tuesday it will now focus on three strategic business lines: Advisor Tech, its outsourced chief investment officer services and its turnkey asset management platform.

The shift was made to “allow for greater focus on each of its client segments and distinct lines of business,” the company said in a news release. The new strategic operating model “provides a greater focus on helping advisors grow their business while unlocking new growth opportunities for the organization,” it explained.

The firm also announced the promotions of three executives who will report to Eric Clarke, Orion founder and CEO, as business line owners and members of Orion’s executive team: Ryan Beach, promoted to president, Orion Wealth Management; Brian McLaughlin, president, Orion Advisor Tech; and Kurt Brown, president, Orion OCIO.

McLaughlin and Brown were CEOs of firms Orion acquired this year: Redtail Technology and TownSquare Capital, respectively.

They joined fellow executive team members Daniel Applegarth, CFO; Kylee Beach, general counsel; and Julie Lane, chief human resources officer.

As Orion continues to support its strategic priorities of executing a strong M&A strategy, integrating and expanding its offerings, and optimizing cross-sell opportunities, the company also announced the hiring of Mike Wilson who joins Orion in the newly created role of EVP, Orion Tech Suite, reporting to McLaughlin.

Wilson previously held leadership roles at LPL Financial and “will oversee the company’s product integrations and roadmap to ensure new features and software are efficiently developed to enhance and connect every aspect of the advisor-client journey,” Orion said.

“Given the rapid expansion of our business in the past two years and the integration milestones we achieved, we’re taking the opportunity to solidify Orion’s go-forward operating model and leverage our acquired talent,” according to Clarke.

“The new operating structure will serve as a catalyst for growth that will help take Orion to the next level and ensure that all business lines are operating as One Orion while we strive to best meet the needs of our advisor clients,” he explained in a statement.

“With seven acquisitions in two years, this realignment provides all 1,500 team members with a clear organizational structure that builds the Orion of the future as we focus on powering advisors and winning for investors,” he added.

Orion’s brand entities now include: Brinker Capital Investments, Orion Advisor Tech, Orion Portfolio Solutions, Redtail Technology and TownSquare Capital.

After the recent additions of Redtail and TownSquare, Orion’s combined platform serviced $3 trillion in assets under administration and $59 billion of wealth management platform assets as of July 1, it said.

Orion and Brinker Capital merged in 2020. Orion also acquired BasisCode Compliance, an Atlanta-based software firm specializing in regulatory compliance and risk management technology, in 2021.

The company now supports 5 million technology accounts and “thousands” of independent advisory firms, it said.

(Pictured: Eric Clarke, CEO of Orion Advisor Solutions)