HomeWealth ManagementMindy Diamond on Independence: Orion’s Eric Clarke

Mindy Diamond on Independence: Orion’s Eric Clarke


Operating a wealth control company within the ‘90s was once an excessively other animal than it’s nowadays.

And the ingenuity of people that sensed a “higher approach” served as the driving force of an out of this world evolution within the {industry}.

For Eric Clarke, discovering that “higher approach” began with the belief that there was once a loss of high quality portfolio answers to be had for RIAs like that of his father, the past due Patrick Clarke. So Eric advanced reporting tool for the company, CLS Investments—an workout that might transform the foundation for the 1999 release of Orion Consultant Services and products.

It was once a seminal second for the {industry}, leveling the generation taking part in box and paving the way in which for the proliferation of impartial corporations, which now had get entry to to equipment that might let them compete with the {industry}’s behemoths.

Nowadays, Orion Consultant Tech is an industry-standard that Eric grew from its function as a portfolio accounting and reporting machine to a “wealthtech powerhouse” with quite a lot of equipment, together with monetary making plans, CRM, possibility control, compliance, and analytics.

Eric has been tremendous busy construction out his imaginative and prescient for Orion, overseeing a number of high-profile acquisitions like making plans company Advizr, possibility generation seller HiddenLevers, and the preferred CRM Redtail.

It’s all a part of what’s transform a fully-developed ecosystem, which incorporates funding company Brinker Capital, TAMP Orion Portfolio Answers, plus the CRM, compliance, and possibility generation, in addition to a behavioral finance answer embedded all the way through its choices.

In step with their web site and as of this recording, Orion lately manages $3.8T in property on its platform throughout 2,300 impartial corporations. Their wealth control company manages over $67B in property. The purchase of Redtail added every other 110,000 marketing consultant purchasers.

But all that apart, one of the crucial staggering headlines this 12 months was once the announcement that Eric is stepping down from his function because the company’s CEO. And simply after recording this interview, it was once introduced that Natalie Wolfson, the outgoing CEO of TAMP AssetMark, would be the new chief of Orion beginning in mid-October of 2023.

With all Eric has happening at this time, he was once beneficiant to sit down down with Louis Diamond and discuss his implausible adventure, together with:

  • The founding of Orion—and the way the company discovered such astonishing enlargement over the past 24 years.
  • Fresh acquisitions—and what each and every provides to the Orion ecosystem.
  • The verdict to promote to non-public fairness—and the way one of these transaction can lend a hand a company assume extra strategically.
  • The demanding situations that advisors face—and the way the platform is helping remedy them.
  • The democratization of generation—and the way Orion’s platform leveled the taking part in box for impartial corporations.
  • The problem of integration—and the way a company like Orion is operating to reinforce shopper revel in and create seamless workflows.
  • The way forward for wealth control—and the way AI is reshaping the processes whilst developing scale and larger alternative for advisors.
  • Plus, Eric discusses his choice to step down from the company he gave upward thrust to—and what he foresees because the path of Orion one day.

Eric epitomizes how innovation drives disruption, which ends up in an evolution. Corporations like Orion and trailblazers like Eric are the founders of a brand new era of wealth control corporations—one this is created upon the liberty of designing one thing higher.

It’s a landmark episode with a pacesetter who helped redefine the wealth control panorama as it’s nowadays, with precious classes for advisors in any respect ranges.

Obtain a transcript of this episode…

Concentrate to extra episodes of Mindy Diamond on Independence: A Podcast for Monetary Advisors Taking into consideration Exchange

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