Orion Advisor Solutions, a major technology provider for independent RIAs, announced a C-suite hire this week: Mark Mayo has joined as its chief financial officer.
He replaces Daniel Applegarth, who previously spent 14 years in the role leaving to take on the role of CFO at Carson Group in April.
Mayo most recently served as CFO for DISA Global Solutions, a drug testing provider. He has also held CFO roles at Connect America, HireRight and several divisions of General Electric.
It's been a year of change at Orion. In August Brian McLaughlin, who served as president of technology consulting at Orion and co-founded CRM software developer Redtail Technology in 2003, announced that he was leaving from his role at the end of this month. And a year ago Natalie Wolfsen, former CEO of AssetMark, joined the firm as its new chief executive, succeeding long-time CEO Eric Clarke.
Upgrade for Advisors Rebrands
A decade after its launch, Enhancement for advisorsthe all-in-one robo-advisor technology and custodian platform for RIAs, has rebranded as Betterment Advisor Solutions.
“This new name more accurately reflects the breadth of products and services we offer across money, investments and 401(k) plans—all powered by Betterment's trusted brand and technology,” the company said in blog.
CAIS, Focus Expand Partnership
Alternative investment platform CAIS has deepened and expanded its partnership with Focus Financial Partners, which was first announced in 2022.
The alts platform will be used by Focus advisors to access third-party funds, launch proprietary investment offerings and consolidate existing funds and historical positions. Firms within the Focus partnership collectively manage or oversee more than $400 billion in client assets.
LPL advisors now have discounted access to Asset-Map
Thousands of affiliate advisors LPL Financial now you have discounted access to Asset-Mapspecialized planning tools, which include, among many other features, the Reports tool that displays the entire financial picture of a household in a visual and intuitive way to work with clients; Stencils, where advisors can overlay peer data onto a client's Asset Mapping Report for comparison and illustration purposes; AND The signalswhich is used to help illustrate how a given household will cope with up to six different common financial disruption events and can highlight the particular vulnerabilities associated with them.
These and other features are available for $142 per month for Professionals and $189 per month (slightly discounted for both when you pay an annual subscription) for Elite versions (which offer more customization and the ability to leverage your brand) of Asset-Map versions.
Janney launches a new portfolio building tool
Regional broker/dealer Janney Montgomery Scott announced the release of a new Portfolio Construction Tool for its Advisor Platform.
This tool will enable Janney's 900 financial advisors to review investment products, compare portfolios and transition brokerage assets to the advisory side of the business. Among the tool's key attributes are new client and prospect proposal features, new investment selection and research, portfolio analysis and construction features, and fee analysis.
This is part of an ongoing two-year development effort at Janney.
It was announced in late July that Janny was being acquired by private equity firm KKR after 42 years of ownership by Penn Mutual Life Insurance Company. Janney will operate as an independent, privately held company after the deal closes.