If you’re an advisor working with a brokerage firm and you’re curious about what life is like on the other side, check out the new landing page from Orion dedicated to breaking away. I’ve been hosting a regular video series for Orion (our portfolio management software provider) that’s basically me interviewing RIA founders who have recently broken away from the brokerage or insurance channel to become holistic, fee-only and fiduciary. It’s a topic I’ve been passionately writing about and speaking about for ten years now.
You can see the videos here on Orion’s new destination website and learn a lot more about what it takes to break away here:
And below is the official announcement of today’s launch:
OMAHA, Neb.–(BUSINESS WIRE)–Orion Advisor Services, LLC (“Orion”), the premier portfolio management solution provider for registered investment advisors, formally announces a series of comprehensive implementation, strategy, and education initiatives to better support breakaway advisors looking to exit wirehouses or broker-dealers to establish their own independent practices.
Orion Offers Roadmap for Financial Advisors Considering Independence
“We want to help every advisor who may be looking to make a change in their career take their next steps with confidence,” said EVP of Business Development, Kyle Hiatt. “Whether that means leading the implementation of a solution like Orion, or empowering firms with guidance along their journey, we’re committed to meeting the very specific needs of these advisors.”
According to a recent report, independent advisors could control more assets than most major brokerages combined by 2020. To support them, Hiatt and his colleagues—who have led Orion’s recent successful partnership with nearly 70 new breakaway firms—have launched Fast Track, an accelerated implementation process combining both technical execution and strategic guidance from across Orion’s organization.
“Unlike firms transitioning from one platform to another, breakaways don’t have critical systems in place to lean on while they build their new tech stack,” he continued. “There’s a sense of urgency that these advisors feel, that our internal teams feel. With Fast Track, we’re able to bring breakaways onto our system in a fraction of the time.”
In addition, the firm has published the Breaking Away Resource Center, a complete online knowledge bank providing actionable advice on overcoming the challenges of going independent. Anchored by a video series hosted by Josh Brown, CEO of Ritholtz Wealth Management and author of the The Reformed Broker, and featuring exclusive programming by leading advisory consultant, MarketCounsel, Orion’s resource center is an effort to address a gap in industry guidance on topics most critical to breakaway advisors.
“One common theme I hear is a fear of change and making wrong choices, like which tech platform to choose or how to manage compliance concerns,” said Brown, who has spoken with countless advisors about independence and will present at Orion’s Ascent 2018 on the topic. “With the ‘Breaking Away’ resource center and broader strategy initiative, we’re aiming to dispel these fears and help advisors realize the benefits of independence through the real stories of those who have come before them.”
The Breaking Away video series, broadcast on Asset TV, currently features four video interviews, including:
- The Launch of Magnus Financial Group LLC with CEO Michael S. Schwartz, CFP®, AEP®
- How FinTech Is Leveling the Playing Field for Independent Advisors with Jordan Collins and Brady Ririe, Managing Partners and Co-Founders of Divergent Wealth Advisor
- Taking the Leap of Faith to Become Independent with Mike Fauser, owner of The Fauser Group
- What it Really Looks Like to Go Independent with Blake Street and Cary Facer, Co-founders of Warren Street Wealth Advisors
In the coming months, Orion and its partners will continue to offer additional videos and resources. Click here to access the Breaking Away Resource Center. Independent advisors who would like to share their own breakaway stories as part of this series should contact Orion at firstname.lastname@example.org.
Orion Advisor Services, LLC (Orion) is the premier portfolio accounting service provider for advisors. Orion frees advisors from back-office tedium so they can enjoy their business again by devoting their time and energy to better serving clients. Orion provides the integrated and fully customizable technology solutions that advisors need to build great advisory firms. Orion’s technology solutions empower more than $600 billion in AUA, and over 2 million accounts. For more, please visit www.orionadvisor.com or follow our news and insights via our blog. For more, please visit www.orionadvisor.com or follow our news and insights via our blog.