The Advisor View: How Orion is Helping a New RIA with a Successful Launch

In today’s blog, we’re excited to share the view from one of our clients, Adam Grossman of Mayport Wealth Management. Adam shares his perspective on why his firm chose Orion and what sets it apart from the other portfolio accounting solutions available today.

I started my firm six months ago. After I got started, I took a few months to evaluate the various portfolio accounting solutions. In the end, it was an easy choice to go with Orion. And, while I felt good about my choice on the day that I signed the contract, I have been absolutely blown away by the order of magnitude to which the software, and the company behind it, have exceeded my expectations.

Here are ten reasons why I would encourage anyone to choose Orion:

1. Manageable cost: As a solo practitioner, starting from a cold start with zero clients and zero revenue, the pricing seemed daunting at first. But, here’s the thing: Orion bills quarterly, they bill in arrears, and they give you a grace period during implementation before they start the clock.

So, it’s possible that you might not have to make that first quarterly payment until several months down the road. That makes the cost much more manageable for even the smallest of advisors.

2. Outstanding training: Orion’s training resources are phenomenal. They start by assigning you an implementation manager who is responsible for ensuring your success. Then, they have online training, which is very well done, and finally they back that up with subject matter experts who are well-trained, friendly, and organized.

They designed a tightly organized implementation roadmap for my firm, and worked hard to keep me on track. It is not in Orion’s vocabulary to have a stalled implementation, and it’s probably unheard of to have a failed implementation.

3. Easy learning curve: Orion’s user interface is based on an app metaphor, with icons on the home screen leading you to different features. This makes the learning curve really manageable. At first, all I knew how to do was to click on one icon, to view account activity and positions. Over time, I expanded my knowledge, icon by icon. What’s great is that, even though there’s tons of horsepower there, the user interface is never intimidating.

4. Flexibility: Every firm is different – different investment strategies, different approaches to trading, different approaches to billing, and different approaches to reporting. What makes Orion outstanding is that it’s flexible enough to handle it all.

The reports are modular, with hundreds of options. The trading is flexible, regardless of how you trade. And the billing is flexible.

For my new firm, I went with an unconventional approach to billing, and it was no problem for Orion. The system had the settings I needed, and they had a bill format to handle it as well. Some systems feel like a straightjacket. Orion is the opposite of that.

5. Integrations: While there are lots of choices out there, I decided that it would be a real mistake to buy a system from a fringe player. The fact is, companies that are industry standards, like Orion, are going to make your life easier because they communicate with all the other industry-standard systems.

Sure, you could save a few bucks by choosing a lower-priced system, but why do that to yourself? Orion talks to all the other major players in CRM, financial planning, etc., and that has been a godsend for my small startup company. It gives me the capabilities of a much larger company.

6. Reliability: If Orion has had any downtime since I purchased it, I haven’t been aware of it. It’s absolutely reliable. It’s fast, and it never gives me any trouble. When I’m running out the door to a client meeting and need one last report in a hurry, Orion does not let me down.

7. Amazing data team: I never worry about the integrity of the data in Orion. Data reconciliation  is always done on time. They are totally professional, and they never make excuses. And, if there’s ever an issue that’s outside their control, they communicate it quickly and proactively, and they always seem to resolve issues quickly.

8. Client portal: Orion provides an out-of-the-box portal capability that will make your firm look professional.

9. Mobile app: Orion will launch a branded app to the Apple and Google app stores that will give your firm the same client-facing capabilities of your biggest competitors.

10. Orion is dedicated to your success: Two weeks ago, after several months of using Orion, I got an email from someone at Orion who had noticed that I wasn’t yet using one of the features of the system. When they called, I explained the obstacle, which was that I just didn’t have the time to learn that feature. In response, they immediately brought resources in to help me. Within a week, I was up and running with that feature.

Orion is truly dedicated to their clients’ success. Where other firms may be happy to just cash your check, Orion really wants you to be happy. Orion – the product, the company and the people – are that good.

Orion has helped more than 1,200 advisors like Adam by providing an integrated and scalable portfolio accounting solution. Not an Orion user? Schedule a demo today to see how Orion can help you enjoy your business again.

Orion provides portfolio accounting services for its clients. Orion does not solicit business on behalf of its clients, and cannot guarantee any specific outcomes, including improved performance or an increase in AUM, as a result of the use of its services.