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Orion Advisors and Brinker Capital Close Merger

By Alex Padalka September 29, 2020

Financial advisor technology provider Orion Advisor Solutions says it has completed its planned merger with investment management firm Brinker Capital.

The two firms announced in June their intention to form a “WealthTech powerhouse” that provides a combined technology and turnkey asset management program platform for independent financial advisors.

Orion’s technology supports more than 2,100 advisory firms with $1.3 trillion in assets under administration, according to a press release announcing the close of the merger. Brinker Capital, meanwhile, serves advisors at insurance and independent broker-dealers and had $26 billion in assets under management as August 19, Orion says.

The newly-unified TAMP will have $44 billion in assets and offer more than 10,000 active investment advisor representatives access to investment strategies from in-house and third-party portfolio managers, according to the press release. The new firm will serve more than 3.9 million accounts across TAMP and tech, Orion says.

Eric Clarke, Orion’s CEO, will be CEO of the combined business, while Noreen Beaman, Brinker Capital’s CEO, will become president of Brinker Capital Investments, which combines Brinker Capital’s in-house investment management resources with those of CLS Investments, according to the press release. 

Orion says that, due to the “[c]ultural compatibility and the alignment of vision” of the two firms, advisors should see results of the deal “within weeks, not months.” 

Advisors using Orion Portfolio Solutions will be able to tap Brinker Capital’s multi-asset risk-based portfolios, according to the press release. 

And in early 2021, Orion advisors will be able to access Brinker Capital’s Wealth Advisory high-net-worth offering, Orion says. 

The companies didn’t disclose the terms of the deal. 

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Tags:  Technology , Staffing and recruiting , Portfolio management , Brinker Capital

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