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Orion and Jemstep form first big marriage of non-robo and robo software -- at advisor behest -- to create RIA e-commerce

The Nebraska-based conventional provider and the Silicon Valley whiz-bang, with Salesforce and TD Ameritrade as common bonds, found it easy to partner with each other

Author Brooke Southall April 22, 2015 at 1:40 PM
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Eric Clarke [far l.] listens raptly as Simon Roy [far r.] touts Jemstep, then inks a deal with him over cocktails. Also pictured: Trizic founder Brad Matthews and Upside user, 'Downtown' Josh Brown

Related Moves

Charles Schwab Corp. discloses imminent, sweeping 'TD Ameritrade' layoffs, indirectly revealed in new SEC filing that reports it will expense severance mostly in 2023 to gain 'incremental' $500 million synergy in 2024 and beyond

The Westlake, Texas, firm had not previously disclosed the cost of terminations -- people and offices -- or that so many of the farewells will happen by Dec. 30

August 22, 2023 at 12:46 AM

A week after he became chairman of Eric Clarke's board, Charles Goldman is heading the search to replace Clarke as Orion CEO-- at Eric's direction

Eric Clarke founded Orion in 1999 and built it to a $3.6 trillion AUA juggernaut, but he believes both he and the company are ready for a big change

May 22, 2023 at 5:13 PM

Cetera hiring Mike Durbin as CEO -- overseeing its existing 'CEO' -- completes Genstar's stellar HR week after it put Charles Goldman atop Orion's board -- with 'exponential' growth in mind for the 'middle market' companies

The Los Angeles broker-dealer nabbed the Fidelity legend to take its $118-billion AUM and 8,000 advisors higher, just as Orion -- also majority owned by Genstar -- makes a similar move.

May 18, 2023 at 1:46 AM

Josh Brown and Barry Ritholtz want rock-star culture and rocketing growth in one RIA so they hired Jay Tini to manage the paradox

The dynamic New York City super-blogger duo now have a $2.8 billion AUM RIA and a 'massive fanbase' to cultivate, but they also foresee a need to rein in and retain

November 22, 2022 at 2:38 AM

See more related moves

Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

SalesForce
CRM Software
Top Executive: Marc Benioff

Upside
TAMP
Top Executive: Tom Kimberly




Frederick Van Den Abbeel / Trade-PMR, Inc.

Frederick Van Den Abbeel / Trade-PMR, Inc.

April 22, 2015 — 4:01 PM

It is wonderful to see technology being developed to aid in the typical workflow to help create scale and efficiency within an RIA firm. Paperless straight-through work flow however shouldn’t be a new concept for RIAs. I cite only as an example, TradePMR released a paperless account opening system back on February 16th, 2010.

http://www.tradepmr.com/Views/AboutOurCompany/PressReleases/PaperlessAccountSetup.aspx

Any custodian provider should be working tirelessly on their own systems to help their RIAs gain the scale they need to grow and remain profitable. If they are so late to the game, makes one wonder why the delay given the fact this technology has been available for quite some time now.

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