For those of you who are new to using Orion, here is a summary of how it helps you serve clients and what you need to know to make the mosts of it.
What is Orion?
Orion, at its core, is a portfolio performance reporting and billing tool, known in the industry as portfolio accounting software. With this software, you can trade in accounts, run compliance protocol, communicate with clients, and open and manage accounts.
To most advisors using Orion or any other portfolio accounting software for the first time, setting it up for themselves can be overwhelming as the options are numerous. However, as an XYIS advisor, our team has already done the heavy lifting in setting up the database and will train you in the specific tools you need to implement your investment management services.
Why does XYIS use Orion?
We selected Orion as our platform provider because this platform combines high-quality with flexibility needed to optimize back office operations. As an organization, Orion is committed to innovation and we feel they will keep up with the ever evolving investment management landscape.
In addition to the technology, we also leverage Orion's expertise in trading through their subsidiary, CLS Investments. They employ Eclipse, a powerful trading and rebalancing tool. Our back-office support team uses their billing and performance tools to support your operations each month. You gain access to a client portal that gives your client access to all the performance data they could ever want. It's a seamless tool that allows us all to speak the same language and work together effectively.
Do I need to be an Orion expert?
You do not need to be an Orion expert to leverage its capabilities. We're here to support you and make the most of this powerful tool. We will guide you every step of the way in the tools we offer well to make the investment management process smooth and scalable. We'll give you tips and tricks and best practices as part of this training.
If you do wish to go deeper into the Orion platform, you may register for Ascent, Orion's own training program. To register for Ascent, visit this link and fill in the information to get signed up. We don't require you to go through this training but if you're interested in going deeper into Orion's tools than what we've built out, that is available. It will cover apps you don't have access to so if you don't recognize everything, that's why.
Now that you've got a better understanding of what Orion is, let's get you going to our next article on common terms you'll run into with XYIS and Orion.