Orion Advisor Solutions is combining operations with turnkey asset management platform Brinker Capital. Financial details about the transaction were not divulged. The consolidation will create an investment manager ad technology firm with nearly $40bn in assets.
Private equity firm Genstar Capital and Orion’s existing backer TA Associates will invest in the merged group. Both firms will have equal stakes in the combined business.
Orion works with nearly 2,000 advisory firms and administers around $1trn in assets. It offers adviser tech to support tax-intelligent rebalancing, efficient billing, integrated planning, and automated compliance monitoring as well as a turnkey asset management programme. It also offers investment management through its business CLS Investments that focuses on ETF strategies.