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Orion Buys Planning Technology Firm Advizr – Barron’s

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Orion Advisor Services, which provides portfolio management technology to advisors, has snatched up Advizr Inc., a New York-based financial planning technology company.

The move appears aimed at helping Orion compete with other advisor-focused tech companies like
Envestnet
,
which in March said it was buying the maker of MoneyGuide financial planning software.

But in an email, Orion CEO Eric Clarke said, “We have our eyes on the likes of Vanguard or Personal Capital here. They’re able to deliver a top-notch client experience that is difficult to replicate at scale with many traditional planning tools. We’re eager to get Advizr’s best-in-class, ‘Apple-like’ client experience into the hands of our advisors at no extra cost.”

Advizr’s technology allows advisors, financial institutions and employers to help investors with financial planning in different ways – from a collaborative approach to an investor-led one – according to a news release announcing the deal.

Orion is the No. 4 portfolio management technology provider by market share, behind No. 3-ranked Envestnet/Tamarac, according to a 2019 technology survey by Technology Tools for Today.

Advizr ranked sixth in market share financial planning software, an area where MoneyGuide Pro is the leader and Fidelity’s eMoney comes in second, according to the survey. But Advizr ranked fourth when respondents were asked what programs they were thinking about adding.

Orion did not disclose the terms of the Advizr deal.

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