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Orion buys $10-billion TAMP to take on Envestnet and AssetMark head-on for mega-accounts

Omaha, Neb.-based NorthStar division is buying FTJ Fundchoice to launch Orion Enterprise after painful losses in bidding for business with large RIAs and IBDs

Author Brooke Southall April 11, 2018 at 2:03 PM
no description available
Eric Clarke: You learn more from the deals you don't win.

Stephen Winks

Stephen Winks

April 11, 2018 — 7:08 PM
The demand for innovation and modernity in advisory services is insatiable, b/ds are of litlle help to advisors thus fintech companies like Orian hold great promise. Market share is wide open and will take incumbent market leaders to places they rather not go. Our conception of advisory services is changing especially with the SEC getting sewrious about fiduciary duty a place wgere incumbents have not served with distinction. Orio has no fear or cultural puch beck which impedes innovation and <a href="http://modernity.as" rel="nofollow">modernity.as</a> that is how market share is won. The reticence of b.ds and incumbent vendors to support expert fiduciary duty in the best interest of the investing public isOrion's secret weapon, The investing public will respond to an exponentially higher level of counsel, at a lower cost which advances the professional standing of the advisor. Affording the investor consumer protections being denied by incumbent b/ds and vendors makes much of what we know as advisory services today as obsolete. SCW
Michael Calvelli

Michael Calvelli

April 17, 2018 — 5:45 PM
Look
Stephen Winks

Stephen Winks

April 18, 2018 — 9:40 PM
If you look at Orions Technology in concert with models in support of continuous , comprehensive counsel required for expert fiduciary standing at very low cost, you would preempt conventional brokerage every <a href="http://time.at" rel="nofollow">time.at</a> higher compensation to the advisor.and far better performance t lower cost for the investor. SCW

Related Moves

DFA undergoes a sea change -- literally -- with a fancy yacht soirée, cigars and champagne as it attempts to sail away from its mutual fund image into the world of ETFs

Having just about staunched net outflows with its embrace of ETFs, DFA is embarking on a cultural shift as it tries to figure out how to sell more, even though it's less unique than it used to be.

March 13, 2024 at 1:46 AM

Orion names 'left-brained' Natalie Wolfsen as CEO to replace Eric Clarke, and AssetMark, which synchronized its announcement, hires Michael Kim as her replacement

Orion Chairman Charles Goldman again lures his protege to self-replace, while Michael Kim was 'integral to AssetMark’s record financial performance over the past several years'

September 8, 2023 at 11:58 PM

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

Noreen Beaman steps down as president of Orion Advisor Solutions after Brinker migrates to Orion software and enterprise deals 'prove out'

The former Brinker CEO oversaw an 18-month transition of her then $26-billion TAMP and will remain as vice chair of the company after 'mutual' decision on role changes.

February 10, 2022 at 2:22 AM

See more related moves

Mentioned in this article:

FTJ FundChoice, LLC
TAMP
Top Executive: Dean Cook

CLS Investments, LLC
TAMP
Top Executive: Todd Clarke

Buckingham Strategic Partners
TAMP, Asset Manager for RIAs
Top Executive: Alex Potts



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