Orion, the wealth tech leader with a focus on supporting fiduciary advisor-client relationships, is redoubling its commitment to that cause with the latest addition to its executive leadership.
The firm revealed it has appointed industry veteran Arun Anur as its first-ever chief operating officer, effective December 9. In this newly created role, Anur will oversee client service, operations, data reconciliation, and onboarding for the firm.
Natalie Wolfsen, CEO of Orion, said his appointment was a "pivotal role" to help the firm "execute our mission to build a wealth-tech community where every advisor and investor thrives."
"Arun’s deep industry experience and proven track record will ensure we’re delivering a consistently exceptional client experience, seamless service, and operational excellence through our reliable systems and support," Wolfsen said in a statement Tuesday.
He brings more than three decades of experience in financial services and technology to the role. He most recently served as chief operating officer at Yodlee, the data aggregation business Envestnet snapped up in 2015 and reportedly considered selling eight years later. Before that, he held leadership positions in technology consulting at Oracle for over ten years.
Arun's move to Orion comes during a period of profound change for Envestnet. Last summer, it was confirmed the wealth tech behemoth would be taken private in a $4.5 billion transaction by a consortium of strategic investors led by Bain Capital. The deal, which also included Reverence Capital, BlackRock, Fidelity Investments, and Franklin Templeton, received virtually unanimous approval at a special shareholder meeting in September.
With more than $6 trillion in assets, Envestnet's platform comfortably outmatches Orion, which reported $4.7 trillion in AUM and $72.5 billion of wealth management platform assets as of September 30. Still, Anur was quick to highlight the latter's "dedication to delivering exceptional client service and pioneering technology."
"I’m excited to work with the talented team at Orion to further elevate the service we provide, ultimately creating raving fans of the advisors and enterprises we serve," he said.
Those jumping ship include women advisors and breakaways.
Firms in New York and Arizona are the latest additions to the mega-RIA.
The agent, Todd Bernstein, 67, has been charged with four counts of insurance fraud linked to allegedly switching clients from one set of annuities to another.
“While harm certainly occurred, it was not the cataclysmic harm that can justify a nearly half billion-dollar award to the State,” Justice Peter Moulton wrote, while Trump will face limits in his ability to do business in New York.
Sieg, 58, was head of Merrill Wealth Management, left in 2023 and returned that September to Citigroup, where he worked before being hired by Merrill Lynch in 2009.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
