Orion Advisor Solutions has beefed up its C suite by adding three new execs to its roster, marking the next step in the wealthtech’s growth trajectory following the Brinker Capital merger in June.
The firm announced Thursday a slate of executive hires to guide its tech growth and marketing efforts: Steve DeAngelis, formerly of FS Investments, will be chief revenue officer; Brad Shepard, formerly of WisdomTree, will be chief strategy officer; and Kristin Petrick, formerly of TD Ameritrade, will be chief marketing officer.
The Brinker merger, which propelled Orion to $48 billion of combined platform assets under management, placed Orion in the top four largest turnkey asset management platforms by AUM, trailing behind Envestnet, SEI and AssetMark.
These executive hires help Orion get settled in following the merger, said Noreen Beaman, president of Orion. The first order of business is to decide what areas of adviser tech makes sense to roll out new innovations for Orion’s 2,200 advisory firm clients.
Right now, Orion is very focused on growing its high-net-worth business, Beaman said. In that light, Orion is looking to use fintech to smooth the client engagement bumps between an adviser and investor. Automation tools are top priority, she said, including tools to support cash flow monitoring, reporting, automated accounts, behavioral finance, and financial planning.
The last year challenged financial advisers’ notions about wealthtech, forcing accelerated adoption of technology to keep business afloat in a pandemic-fueled virtual world. Wealthtechs, since, have been rolling out tools designed for advisers to automate workflows and digitally engage with clients to provide more personalized client experiences.
DeAngelis comes to Orion most recently serving as senior managing director and head of distribution at FS Investments. DeAngelis led distribution strategy for all products and services. As CRO at Orion, DeAngelis will provide strategic direction and overall leadership for the sales functions across the firm to drive revenue growth, profits, and talent development. He will chair Orion’s growth committee and sit on the executive committee.
Previously leading innovation at WisdomTree Asset Management, Shepard will develop Orion’s strategy to build stronger connections between users of Orion’s technology and TAMP offerings. He will also serve as chair of Orion’s product committee and join the firm’s executive and growth committees.
Petrick is a Fortune 500 marketing and communications leader with more than 20 years of experience working in media, agency, nonprofit, and corporate organizations. Most recently, she worked at TD Ameritrade for nearly 12 years, rising to the position of managing director, marketing and communications for the firm’s adviser business.
As CMO at Orion, Petrick will leverage her experience to spearhead the company’s strategic marketing vision. She will join the firm’s growth committee.
The new hires also follow Orion’s recent acquisition of Atlanta-based HiddenLevers, which is a platform that allows advisers to perform portfolio- or security-level stress tests to measure sensitivity to macro-level risks.
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