Orion Unveils New Wealth Management Tools for Advisors
Orion, known for empowering financial advisors with cutting-edge wealth management solutions, is excited to announce a series of significant enhancements aimed at assisting advisors in servicing high-net-worth (HNW) and ultra-high-net-worth (UHNW) clientele. As new economic paradigms shift with generational wealth transfer, the need for personalized financial services is greater than ever.
Meeting the Needs of Affluent Clients
With projections indicating that over $124 trillion will transition between generations by 2045, financial advisors face a unique opportunity to cater to an influx of new millionaires seeking sophisticated financial strategies. The anticipated demand for high-touch, personalized services presents financial advisors with a pathway to enhance their offerings significantly.
Key Insights from Recent Surveys
Recent findings from Orion's 2025 Advisor Wealthtech Survey reveal that a staggering 47% of advisors are planning to expand their services to attract HNW clients by 2025. They are focused on integrating services such as estate planning, direct indexing, and trust accounting into their offerings. However, this ambition coexists with a notable disconnect, as reflected in the Investor Survey indicating that 49% of advisors offer estate and trust planning services, yet only 35% of clients are aware of these offerings. This gap highlights a vital prospect for advisors to improve their communication strategies with clients.
Custom Solutions to Elevate Client Engagement
To help advisors meet the growing demand from affluent clients, Orion is rolling out several new tools and enhancements tailored to address their complex needs:
Integration with the Summit Platform
Orion has successfully integrated Summit Wealth Systems, enhancing its platform with intuitive client reporting and portfolio management features that cater to large RIAs and family offices. Advisors can look forward to interactive product demonstrations at Orion Ascent, showcasing how Summit can deepen client engagement through personalization.
Innovative Estate and Tax Planning Tools
The newly streamlined estate planning capabilities will empower advisors to conduct beneficiary reviews, manage documents, and navigate complex tax scenarios efficiently. By integrating donor-advised fund functionality, advisors can simplify their clients' charitable giving processes, ensuring alignment with their tax and legacy objectives.
Advanced Foreign Exchange Capabilities
Recognizing the diverse financial interests of HNW/UHNW clients, Orion now supports transactions in over 100 foreign currencies. These enhancements also include comprehensive reporting on illiquid investments, such as art or collectibles, providing advisors with an updated perspective on holistic asset management.
Enhanced Trust Accounting Services
Orion's updates to trust accounting reporting offer improved visibility and precision, down to decimal-level ownership details. This added transparency is crucial for clients managing complex trust structures.
Comprehensive Support for Trust Account Trading
With its expanded capabilities, Orion now supports comprehensive trading for Trust Accounts, ensuring seamless operations between Trust and standard settlement accounts. This advancement incorporates real-time compliance supervision and automated trade processing, providing advisors with an efficient trading solution.
Outsourced Chief Investment Officer Services
Advisors looking to elevate their investment management can leverage Orion's OCIO services. With a focus on white-glove investment management, these solutions allow advisors to delegate critical functions such as due diligence and portfolio management, letting them concentrate more on their clients' unique needs.
Embracing the Future of Wealth Management
As the landscape of wealth management evolves, so too do the expectations of high-net-worth clients. Data from Orion’s recent surveys suggest that many wealthy investors are interested in a broader range of services from their advisors. Approximately 40% expressed a desire for enhanced offerings—insight that illustrates the potential for advisors to significantly broaden their service array in response to client demand. Notably, clients who do utilize estate and trust services show a strong inclination toward wealth transfer strategies.
By fostering awareness of available services and enhancing communication, advisors position themselves to capture a greater share of the expanding HNW market. Orion is committed to supporting advisors in their endeavors to craft personalized, meaningful financial experiences for their clients.
About Orion
Orion stands as a leading provider of tech-enabled solutions designed to transform the advisor-client dynamic, allowing financial professionals to effortlessly manage the complexities of prospecting, planning, investing, and achieving. With the integration of various brand entities under its umbrella, Orion creates a comprehensive suite of services that fosters client growth, meaningful connections between goals and investment strategies, and enhanced tracking of progress toward financial objectives. Orion currently oversees a massive $4.9 trillion in assets under administration, while continually providing technology support to over seven million accounts, benefiting thousands of independent advisory firms.
Frequently Asked Questions
What are the new tools launched by Orion?
Orion has launched several tools aimed at enhancing wealth management services, including new estate planning workflows, foreign exchange capabilities, and trust accounting improvements.
How does the generational wealth transfer impact advisors?
The upcoming generational wealth transfer represents a significant opportunity for advisors to attract new clients and expand their service offerings.
What is the importance of the disconnect found in Orion's surveys?
The disconnect indicates that many clients are unaware of the extensive services advisors provide, highlighting a need for improved communication strategies.
How can advisors benefit from the Summit platform integration?
Advisors can benefit from enhanced client reporting and portfolio management features, which are designed to create a more personal connection with affluent clients.
What role does the OCIO service play for advisors?
Orion’s OCIO services allow advisors to outsource investment management tasks, which can enable them to focus on meeting the specific needs of their high-net-worth clients.
