Schwab custodial services, Fidelity models on Orion platform

Charles Schwab and Fidelity Institutional have joined turnkey asset management platform Orion to provide custodial services and model portfolios, the TAMP announced Thursday.

Schwab Advisor Services, which integrated its digital account opening tool with Orion last year, is now available as a custodial option on Orion’s platform. The addition of Schwab Advisor Services as a custodian allows the TAMP users to extend the Orion platform to a much larger pool of assets, according to the announcement. Schwab advisers, too, can extend the offerings of Orion’s technology and outsourced solutions to more investors. 

Fidelity Institutional has made a lineup of model portfolios and model-delivered separately managed accounts available on the Orion platform including Fidelity Target Allocation, Fidelity Business Cycle, Fidelity Bond Income and Fidelity Advisor Women’s Leadership SMA. Fidelity also made its lineup available through Communities, Orion Advisor Tech’s model marketplace.

In addition to the partnerships with Schwab and Fidelity, the Omaha, Nebraska-based adviser technology firm rolled out new marketing tools and a new proposal system. 

Orion said it will roll out its automated client prospecting tool, Market*r, to its users, which is designed to help advisers bring prospects to their virtual doorstep with customizable, omnichannel campaigns tied to personalized goals, “setting the stage” for planning engagements, the firm said.

The tech provider also released its new in-house proposal generation technology, that ties diversified investment proposals to investors’ specific needs, according to the announcement. With the new tech, advisers can access real-time portfolio data to aid in investment selection, including risk and asset class information. Once proposals are built, advisors can adjust them “on the fly” between single strategy, unified managed accounts (UMAs), and self-directed proposals. 

Orion also rolled out new turnkey UMA portfolios, Market Cycle Advised Mandates. The portfolios are composed primarily of third-party strategies customized by Orion’s investment team.

The announcements come just two months after Orion said it is merging with competing turnkey asset management platform Brinker Capital to create an investment management firm and technology provider with approximately $40 billion in managed assets.

“Investors demand to see their priorities, market attitudes, and long-term goals reflected in their relationships with their advisors,” said Rusty Vanneman, chief investment officer of Orion Advisor Solutions. “The new technology and expanded partnerships we’ve invested in our TAMP offering break asset management out of its silo and connect it to a more complete and engaging process.”