Oranj launches 'free' financial platform as way to lower client costs

MAX platform offers access to products from BlackRock, Morningstar, Direxion and others

Oct 10, 2017 @ 12:43 pm

By InvestmentNews

Software provider Oranj has introduced a wealth management tool that it says can help reduce product and technology fees paid by investors. Dubbed MAX — for manage, advise and experience — the software will be made available to advisers at no charge, in what the company calls an industry first.

MAX combines Oranj's existing client-engagement and account aggregation tools with trading and rebalancing features from TradeWarrior Software, Inc., in which Oranj acquired a majority stake earlier this year. MAX also enables advisers to access model portfolios and mutual funds from BlackRock, Direxion, Morningstar Managed Portfolios, ETF Securities, and Frost Investment Advisors.

In a release, Oranj said that MAX is custodian agnostic. It also said that Shareholders Service Group and Liberty Partners Financial Services have agreed to offer MAX to their more than 1,500 advisers.

"Many investors are unaware that their investment costs include multiple layers of product and technology fees along with advisers' fees," said David Lyon, CEO and founder of Oranj. "MAX can remove some of these fees, which advisers are often forced to pass on to their clients."

As part of the overall free offering, Oranj said that MAX includes an adviser-client portal, account aggregation tools, online account opening and transfer functionality, esignature capability and a risk assessment and alert tool.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

Geoffrey Brown: What's top of mind at NAPFA?

NAPFA is looking ahead at the rest of 2018 and has a broad agenda that includes improving diversity in the advice industry. What's next? Geoffrey Brown offers his insights.

Latest news & opinion

10 fastest-growing IBDs

These independent broker-dealers saw the biggest percentage gains in their revenue in 2017.

The unique nature of working with celebrity clients

Athletes and entertainers are just like everyone else — aside from complex tax issues, a lack of financial savvy and a need for prenups

Top 10 IBDs ranked by revenue

These independent broker dealers generated the most revenues in 2017.

8 podcasts advisers listen to when they aren't working

Listening to podcasts for the fun of it.

UBS continues to cut loans to recruits, while increasing compensation to brokers

The wirehouse reduced recruitment loans 20% and increased bonus loans 68% in the first quarter.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print