IMPACT Conference
Orion, WeathSite Launch New Asset Management and Reporting Tool

Orion, WeathSite Launch New Asset Management and Reporting Tool

Orion Advisor Services and WealthSite are partnering to develop Orion Private Asset Platform, a new management and reporting tool for advisors of high-net-worth individuals, the firms announced at the Schwab IMPACT conference in Boston.

Private Asset Platform combines Orion’s portfolio accounting capabilities with WealthSite’s private asset management and reporting services to give advisors a single platform to manage and report on all of a client’s traditional and alternative assets—even non-investment entities like art and jewelry. The platform also provides management and reporting of capital commitments, capital contributions, income accounting, return of principal account, IRR calculations, DVPI and TVPI.

The platform offers semi-automatic data reconciliation and can instantly produce reports to show advisors a holistic view of managed accounts.

“We’re fulfilling a key, unfilled need in the marketplace—the need for advisors to have a truly holistic look at their clients’ complete net worth,” Orion CEO Eric Clarke said. “In this case, we’re housing alternative asset and traditional investment reporting under one roof. This is critically important for high-net-worth clients who invest in illiquid assets such as fine art and real estate.

“With our platform, their value will no longer go unreported or unaccounted for.”

Clarke added that the Private Asset Platform eliminates the need for advisors to use products like Excel, improving workflows and reporting capabilities while narrowing the chance for human error.

Peter Giza, the vice president of business development for WealthSite, said the platform also features audit trails and data validation reports.

“The range of data that we’re now able to provide is, without a doubt, industry unique,” Giza said.

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