Tom McCarthy, EVP of Sales for Orion Wealth Management, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss the trend of RIAs continuing to outsource more and more of their firm’s tasks.
Most people know Orion as a technology company that delivers portfolio accounting tools. In addition, Orion has launched a range of wealth solutions that enable RIAs to outsource nearly all aspects of their operations, including CRM, portfolio management, trading, and risk and financial planning tools. When advisors automate these functions, they free up time to spend with clients and prospects.
McCarthy works on the wealth side, which offers OCIO services, practice-level models, and a turnkey asset management platform (TAMP) solution. TAMP solutions are leveraged by broker-dealer enterprises and small RIAs. RIAs who consider themselves more as financial planners than investment managers are looking to OCIO functionality to outsource billing, reporting, trading, investment guidance, risk tools, and due diligence. There is an option to offer a white-label, mobile-friendly user interface to clients.
McCarthy notes that advisors are seeking technology that enables them to manage their entire business seamlessly through a single user interface. One of Orion’s key pillars is a flexible ecosystem that allows advisors to integrate third-party technology solutions. Orion now allows advisors to manage the entire wealth experience through its CRM, with functionality such as performance reporting and proposal generation.
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