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07.23

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Who Will Be Orion’s Next CEO?

Orion Advisor solutions CEO Eric Clarke’s
recently announced plan to retire by
year-end has left fintech consultants and
other industry experts pondering who
his replacement will be: Ryan Beach,
president of Orion Wealth Management,
and Brian Mclaughlin, president of Orion
Advisor Technology, are widely cited as
two of the likely top internal candidates.
However, one fintech strategist pre-
dicted Orion would choose somebody
else altogether, from outside the company.
“My money is on someone from the TD
organization,” Doug Fritz, founder and CEO
of F2 strategy, told ThinkAdvisor, referring tomorrow,” Bruckenstein said. Orion and the sector. “He will go down
to TD Ameritrade, which was acquired by The recent addition of Charles goldman, in the fintech hall of fame (we’re still
schwab in 2020 and is still being integrated “who’s obviously a very experienced and working on the zoning permits on
into its acquirer’s operations. A TDA execu- very capable guy,” to the Orion board as that) as a visionary that delivered on
tive “would fulfill my prediction that Orion executive chair only helps Orion, according the promise of streamlined, modern
becomes an RIA custodian,” said Fritz. to Bruckenstein. “I think they’re in good tech for the smaller player,” said Fritz.
As far as Mclaughlin is concerned, “I hands … [and I would] not be worried if I (Clarke was one of ThinkAdvisor’s 2022
think the move to have Brian oversee the was an advisor at all,” he added. luMINARIEs award winners in the
tech last year might mean that he’s going goldman, the former head of executive leadership category.)
to continue to focus on it for a while,” Fritz AssetMark, is leading the firm’s search for Clarke’s legacy will include “many
predicted. And that, he said, “would leave a new CEO, Orion said Monday. He joined things,” said Bruckenstein. “Number one,
the door open for an outside personality Orion’s board in september and also he will be eternally remembered as one of
with a reputation and experience to lead serves on the strategic advisory board of the nicest, kindest people in the business.
with two strong execs supporting her/him.” the private equity firm genstar Capital. “I Number two: I literally remember when
Mclaughlin joined Orion last year, think Orion will be fine from an operating they took this thing from an internal soft-
when Orion acquired Redtail Technology, perspective,” Fritz told ThinkAdvisor. ware product to market and what he’s
the web-based client relationship man- “What will be missed is [Clarke’s] grown both organically and inorganically
agement software firm led by Mclaughlin. relationship [with] and advocacy for over the last 20 years is just amazing.”
“I think Brian Mclaughlin can run all the independent advisor,” he explained. Orion’s “corporate culture” is also “one
the tech,” Joel Bruckenstein, president “Orion has continued to drive functional- of the best in the business,” according to
of Technology Tools for Today (T3), told ity and innovation that endears users and Bruckenstein, adding: “He will always be
ThinkAdvisor. “I think people like Ryan clients to their brand. We’d hope the next remembered, I think, as not only a trail-
Beach can run all the M&A. They’ve been CEO will have the same perspective, but blazer but also the ultimate gentleman.”
in this business a long time and they’re fear that an aggressive capital partner Clarke, who founded Orion in late
two of the best at what they do,” and the may push for a different direction.” 1999, will continue to serve on its board
company has a “hierarchy of really good
of directors and intends to “work with the
Adobe Stock people and they have a great board.” Clarke’s Legacy board on a smooth leadership transition,”
the turnkey asset management provider
Both Bruckenstein and Fritz said Clarke
The CEO post is a “role that needs to
will leave behind a strong legacy for
said in late May. —Jeff Berman
be filled but it doesn’t need to be filled
for all this and more Web exclusive content please visit thinkadvisor.com
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July/August 2023 InvesTmenT ADvIsor 1