Page 3 - Investment Advisor - October 2021

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Orion Mulls More Acquisitions

As Orion Advisor Solutions integrates discussions with about a half a dozen This is an example where “technology
Brinker Capital and HiddenLevers, which it different parties right now.” is way ahead of the regulatory environ-
recently acquired, the company is looking ment,” he noted. “The regulators, just
at more potential acquisitions, CEO Eric Digital Assets by saying no to an ETF, have certainly
Clarke told Investment Advisor during a Clarke stressed that Orion sees it as not dissuaded people from investing in
wide ranging interview in early September. important to help advisors get educated digital currencies. In fact, they’re doing it
on digital assets. Although outside of the SEC’s purview.”
Brinker, HiddenLevers Integration digital currencies are “obvi-
The recent Brinker and HiddenLevers In-Person Ascent Conference
acquisitions “provided different About 1,000 people attended,
opportunities for our business,” mainly in-person but also virtually,
according to Clarke. the firm’s Ascent conference, about
“The Brinker transaction the same number as the last con-
allowed us to greatly improve our ference two years ago, Clarke said.
asset management capabilities,” The firm “continuously evaluated
while the HiddenLevers transaction the situation [prior to the meeting]
“allowed us to take their [investment] and we did contract with a third
proposal technology and help our advi- party to help us maintain safety
sors grow by winning more business,” ously” not going away, “it protocols.” There was medical staff
Clarke explained. “That proposal tech- is definitely still on the bleeding edge … and rapid testing for COVID-19 onsite,
nology addresses top-of-mind concerns as it relates to advisors trying to figure he noted.
that clients have and we’re seeing advi- out how to incorporate digital currencies In-person attendees were asked to
sors really leverage that technology to into portfolios,” he said. At least some upload their vaccination statuses to the
help them close more prospects.” advisors are wondering how they can get third party, he said, noting over 85% of
When it comes to integrating those the knowledge they need to “speak with attendees were vaccinated. They also
firms into Orion’s operations, he said: some level of expertise around digital were required to sign off on a health cer-
“There’s been a lot of groundwork that currencies” and the topic is “something tification form to verify that they didn’t
we’ve put in place so that we can now that advisors are really trying to get their have any COVID symptoms. Masks and
start building upon that.” heads around,” he added. “If nothing hand sanitizer were given out to every-
Meanwhile, the HiddenLevers integra- else, just get educated on it and get that body who checked in, but attendees
tion is “we’re just starting to implement certification so that when the client does were not required to wear masks.
our integration plan with them,” he said, come in, you’re speaking from a point of Each attendee also received a different
predicting the integration will get closer view of expertise.” color wristband based on their prefer-
“over the next seven to eight months.” For now, the “biggest challenge that we ences for greeting others at the event
face as an industry is trying to figure out (such as open to shaking hands, just
More Acquisitions Ahead? how do we deal with digital currencies,” open to fist bumping or preferring to
“If there are opportunities out there he said. “Do we take the time to set up remain socially distant).
where we can add scale to our business, these off-platform assets/off-brokerage “We felt really good about making
we’re interested in those,” Clarke said. platform accounts with these digital cur- sure that we were providing a range
“Or if there are additional technologies
of options so people didn’t feel like
rency companies? Or do we wait for the
Adobe Stock that are helpful to our advisors, we’re SEC to approve an ETF of sorts or an ETF they had to come if they weren’t com-
that’s based on some type of a futures
fortable with that,” Clarke explained.
absolutely interested in those as well.
version of a digital currency?”
— Jeff Berman
So we are having continued strategic
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OCTOBER 2021 INVESTMENT ADVISOR 1