The fintech solution provider Orion is hosting its annual Ascent conference this week in San Diego, and as in past years, the firm is using the event to unveil a number of new tech tools and advisor platform initiatives.
So far, the firm has put a spotlight on two new tech-enabled planning tools — one designed to support fiduciary advisors as they work with clients on estate and legacy goals and another meant to allow advisors to foster deeper planning discussions with clients that factor in their emotions and personal viewpoints regarding the meaning of wealth and financial freedom.
In an interview with ThinkAdvisor in the morning ahead of the event's final day, Orion CEO Natalie Wolfsen said the Ascent conference was "going great" thus far. She noted that more than 900 of the firm's advisor-clients are in attendance and that so many one-on-one training consultation sessions were booked that the firm had to add more on the fly to meet the demand.
"It's really nice to see how our advisors are coming here and showing us how they are using our tools and seeking new insights and solutions from our end," Wolfsen said. "We're giving training sessions both to new users and to those who are seeking to become power users of our platform, so there's just a whole lot going on."
Demystifying Estate Planning
As Wolfsen explained it, Orion's new estate planning tool helps advisors demystify the legacy planning process for families they serve by providing them with "clear, visual asset maps" that provide understanding and peace of mind.
"This addition to the Orion planning platform seeks to empower financial advisors to take a lead role in guiding families through the largest intergenerational wealth transfer in history," Wolfsen said. "The financial landscape is set to undergo a monumental transformation as the baby boomers and the silent generation prepare to pass down an astonishing $72 trillion in assets to their heirs through 2045."
As revealed in Orion's second annual Wealthtech Survey, 57% of advisors are currently focused on generational wealth transfer as a growth opportunity, with another 36% expected to do so over the next three years.
Wolfsen said the new tool is designed to "simplify and scale" this process.
"It enables financial advisors to expand their services, effectively offering estate planning to both high-net-worth individuals and a broader range of investors," she noted.
