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Within the Client Portal, clients will have the ability to determine if they would like to receive eStatements, as well as confirm their profile information.
How to turn on: Orion Connect > Client Experience > Settings > Documents > Statement Setting Enabled
Advisors will have the ability to turn off benchmarks in the Performance Summary and Performance vs Benchmark cards in the Client Portal. This will allow benchmarks to be turned off in the Client Portal while still remaining on in the rest of the Orion Connect system.
How to turn off: Orion Connect > Client Experience > Settings > Portfolio > Display Benchmarks on Chart > Select: None
Clients will now have the ability to view their Fidelity Documents going further back than the standard allowable 2 years by using our new date picker feature. Users will now be able to select the specific periods they want to view statements for, allowing for greater flexibility.
Each new tax year ahead ushers in a host of planning changes and updates. Included in this release are updates to marginal tax brackets for earned income, standard deductions, retirement and HSA contribution limits, and social security earnings limits and bend points. These updates will occur in early January 2022.
Orion Planning has added JP Morgan’s 2022 forward-looking Long-Term Capital Market Assumptions. In addition to being able to customize these CMAs at the firm level, clients can still enjoy the ability to revert to the 2020 and 2021 assumptions. These updates will occur in early January 2022, followed closely by updates to historical return data.
Users can now sync over the cash amounts from a billing instance using the cash funding sync to Eclipse. This will set aside cash in Eclipse in order to raise cash for fees. If you want to set aside more or less than the amount calculated on the account, you are able to use the billing cash multiplier to manipulate the values syncing.
Orion provides the ability to submit service requests directly to Schwab from the Contact Us menu in Orion Connect. We have updated the disclosure that appears each time a request is submitted and require user acknowledgement before submitting the request.
The new Bill Detail feature will allow users to see all bills that have ever been generated for a household and then allow you to drill down into that bill. The Bill Detail will display the fee and payout calculations, what assets were included in the bill, any adjustments, and pay for information. Currently this feature is only located in Portfolio Audit, but soon the user will be able to access this feature in the Billing Audit and from the Bill Generator.
Orion is constantly adding new data tags that you can pull into Orion reports and queries. With this release we have three new tags that will further expand your reporting capabilities.
Number of Assets – will display the number of assets for a given level (Household, Registration, Account, etc)
Number of Products – will display the number of products for a given level (Household, Registration, Account, etc)
Estimated Tracking Error – pulls tracking error data into reports – can also be used in our gauge chart.
Stacked bar charts come in handy if you want to show asset category allocation over multiple time periods in a single column versus the old experience of a cluster of closely stacked columns. This development will allow for cleaner and easier to read reports.
Astro users now have the ability to pull in the following data tags:
Account Capital Gain Budget
Account Short-Term Tax Rate
Account Long-Term Tax Rate
Account Tax Transitioning
Account Tax Transition Year
Thanks to your feedback, users now have the ability to rename columns within custom built queries.
With our December release, users will now have the ability to add multiple columns using the same data tag.
This development will allow you to add multiple columns using the same data tag in Query Builder.
This development will display an error message if a user runs a query ‘to screen’ and their saved view no longer matches due to a change in the query.
Performance and Composites
With the IRS updating Life Expectancy tables for RMD calculation we have taken that into account and updated our tables in preparation for 2022
We’ve updated our engines for Performance Overview to calculate in a faster manner. We’ve updated it to utilize our RB3 calculation engine.
We are now able to support two data feeds for ByAllAccounts. The new feed will support accounts that you just need a balance for. This feed will bring in account holdings and insert a balance adjustment transaction to bring the Orion balance inline with the balance ByAll has captured. This offering allows you to bring in heldaway accounts at a lower cost but still allows you to include the balance information in reports and financial planning.