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As Scheduled, Brinker and Orion Close Merger

Orion and Brinker closed a multiprong deal that includes private equity investments and plans to extend tech capabilities in early 2021.

The merger between Orion Advisor Solutions and Brinker Capital closed on Thursday, according to an announcement. The unified TAMP now tallies $44 billion in assets and provides more than 10,000 investment advisor representatives with access to investment strategies. 

The deal closed at speed, considering the complexity of the combination. Orion’s majority owner, private equity firm TA Associates, and private equity investor Genstar Capital are both investing in the combined firm. Chuck Widger, founder and executive chairman of Brinker Capital, is also an investor and advisor of the combined business.

Orion’s Eric Clarke will lead as CEO of the postmerger business, with Noreen Beaman tapped as president of Brinker Capital Investments. 

“We are able to capture the momentum created by the increasing connectivity of technology and fiduciary advice,” Clarke and Beaman said in a joint statement. “Our complementary strengths will drive the entire fiduciary process with planning tools, guided or open-architecture investment solutions and behavioral insights.”

Orion advisors will have access to Brinker Capital Wealth Advisory high-net-worth features in early 2021, according to the announcement. Orion plans to open its tech offerings to Brinker Capital clients “around the same time.” 

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