Orion Unveils Custom Indexing Tech for Advisors: Tech Roundup  

Orion Advisor Solutions introduced major enhancements to its technology ecosystem during the opening session of its flagship Ascent conference in Orlando, Florida on Wednesday.

Eric Clarke, the firm’s founder and CEO, addressed an audience of 1,600 advisors and industry leaders to unveil the new Story Paths advisor-facing technology for Orion’s Custom Indexing solution.

The new technology is similar to goals-based financial planning software and will enable advisors to choose from one of a few user paths that the company said will allow them to quickly customize portfolios or tax transition legacy assets.

Orion’s Custom Indexing solution, launched in 2018, allows registered investment advisors to differentiate their offerings with personalized, professionally managed, low-cost portfolios.

“While other direct indexing solutions cater almost exclusively to wirehouse advisors, we set out to build a solution with a heavy emphasis on customization that meets the needs of the independent advisor,” Clarke said, adding, “Orion is a leading direct indexing provider for RIAs, with $7 billion in assets under administration.”

Orion’s new Story Paths workflow lets advisors create custom portfolios at scale, “whether aiming to track a traditional index, replicate a factor tilted exposure, or overlay to an existing internal or third-party separately managed account,” the firm said.

Advisor Tech Spending to Remain Strong

Forty-seven percent of advisors who responded to Orion’s first wealthtech survey said they planned to boost their investments in client-facing technology “despite macro-economic headwinds,” Orion said Tuesday.

The goal is to use the technology to save time and money, deliver customized experiences and drive growth, Orion said.

The survey results were announced at Orion’s Ascent conference. The survey was administered to a broad cross-section of independent advisors and sought to provide financial professionals with actionable insights that will help them prioritize technology investments and position their practices for success, the company said.

Only one in 10 advisors who responded said their firm had all the technology solutions it needed, Orion noted. Meanwhile, 60% said they had “most” of what they needed. The survey also revealed overall technology spending is expected to grow by 7% this year.

Sixty-seven percent of advisor respondents indicated a clear priority would be investing in technology to help deliver a more personalized client experience, according to Orion.

Over half (57%) of advisor respondents, however, said the lack of integration between their core applications was the largest “pain point” with technology, Clarke said.

The results are based on a 10-minute online survey of 202 financial advisor clients of Orion Advisor Solutions conducted in January 2023 by Logica Research.

Riskalyze Teams With Opto Investments

Riskalyze on Tuesday announced a strategic partnership with technology-enabled private-markets solution Opto Investments.

The partnership will allow RIAs using the Riskalyze growth platform to access exclusive private-market investment opportunities, empowering them to achieve better outcomes for their high-net-worth and ultra-high-net-worth clients.

Effective immediately, advisors using Riskalyze’s growth platform can leverage Opto’s portfolio-building tools and “expertise to build bespoke investment strategies,” the companies said in a joint announcement. Opto will offer access to private-market investments spanning private credit, private equity, real estate, venture capital and infrastructure.

Sanctuary Wealth Expands Advisor Toolbox

Sanctuary Wealth teamed with fintech firm Pontera in a pact that will enable Sanctuary advisors to provide more comprehensive oversight on clients’ retirement assets, the firms said in a joint announcement on Tuesday.

Pontera allows Sanctuary advisors to manage, trade and bill on held-away accounts, including 401(k)s and 403(b)s, with a focus on providing better client retirement outcomes, the companies said.

The fintech partnership closely follows Sanctuary’s announcement of its largest recruit to date, Chappell Wealth Management, from Merrill Lynch, with about $1.5 billion in assets under management.

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