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Technology: Bundled, best of breed, or both?

The debate continues

Apr 1, 2014 @ 9:05 am

By Sheryl Rowling

Debate continues about whether it is best to utilize a bundled solution or choose best-of-breed technologies. Proponents of bundled solutions are attracted by the concept of a one-stop shop. Bundled solutions can offer seamless integration and one source for support. There is also the potential for cost savings when buying multiple components from one provider.

Proponents of best-of-breed want to ensure that each component of their technology set is ideal. After all, as our industry embraces integration more and more, it is a fairly easy to have all the pieces work together smoothly. Believers in best-of-breed solutions know that should they become disenchanted with one piece, they can easily move to a better solution of their choice — without having to change their entire system or settle for less than ideal on one or more parts of the system.

What would be truly ideal is the best of both worlds. What if there was an open architecture, bundled best-of-breed solution so you could change one or more pieces if you wanted? This revolutionary new concept is now being offered by Orion Advisor Solutions' Total Technology Platform.

Considered as best-of-breed by many in the industry, Orion's portfolio accounting solution provides additional efficiencies beyond accounting such as new account setup, trading, reconciliation, fee billing, and client communications. But Orion's advisers wanted more than basic trading; they want tax efficient, household level re-balancing. So, Orion sought out Total Rebalance Expert.

"Adding TRX to the Orion platform creates a 'best of breed' offering for advisers that is independent, multi-custodian, and will be available immediately to our advisers," said Eric Clarke, chief executive of Orion.

Calling this solution the "Total Technology Platform", Orion is positioned to compete head-to-head with bundled providers as well as provide an alternative to TAMPS. Orion includes robust back office services along with integrations with MoneyGuidePro and numerous CRM providers. Add optional outsourced re-balancing and portfolio management, the Total Technology Platform can actually be enhanced to a total management platform.

Sheryl Rowling is chief executive of Total Rebalance Expert and principal at Rowling & Associates. She considers herself a non-techie user of technology.


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