Orion Planning

Institutional Overview: Orion Planning Deep Dive

Orion Planning sits squarely in the financial planning software category, a critical component of the modern wealth management technology stack. For firms managing significant AUM, a robust financial planning tool isn't merely a value-add; it's essential for client retention, AUM growth, and operational efficiency. Orion Planning, priced on a per-advisor/month basis, targets advisors seeking to deliver personalized financial futures to their clients. Our analysis considers its effectiveness in meeting the needs of a large RIA ($1B+ AUM).

Core Capabilities and Institutional Application

Orion Planning focuses on several core functionalities:

• Goal-Based Planning: This allows advisors to define and track progress towards specific client goals like purchasing a home, funding education, or early retirement. The effectiveness here hinges on the granularity of the goal definition and the sophistication of the tracking mechanisms.
• Cash Flow Analysis: Crucial for understanding a client's current financial situation and projecting future income and expenses. The value lies in the accuracy and completeness of the data inputs and the tool's ability to handle complex income streams and expense patterns.
• Retirement Planning Tools: A standard feature, but the sophistication of the underlying algorithms differentiates offerings. We would assess its ability to handle various retirement scenarios, including inflation, market volatility, and longevity risk, and whether it accurately projects sustainable withdrawal rates.
• Investment Projections: This feature predicts future investment performance based on chosen asset allocations and market assumptions. The key evaluation criteria here are the robustness of the underlying models (e.g., Monte Carlo simulations, historical data analysis) and the ability to stress-test portfolios under adverse market conditions.
• Client Portal Integration: A non-negotiable requirement in today's market. The client portal should provide seamless access to financial plans, investment performance, and communication tools. We evaluate the portal's user-friendliness, security, and customization options.

From an operational perspective, Orion Planning creates leverage by automating aspects of the financial planning process, freeing up advisor time for client relationship management and business development. It standardizes the planning process across the firm, ensuring consistency and compliance. However, the actual leverage achieved depends on the extent to which the tool can be integrated with existing systems and the efficiency of the onboarding process for advisors.

Integration & Data Flow Analysis

Integration capabilities are paramount for large RIAs. Orion Planning's value is significantly diminished if it operates in a silo. We assess its ability to seamlessly integrate with:

• CRM Systems (e.g., Salesforce, Dynamics 365): Essential for a unified view of the client relationship and data consistency. Poor integration here leads to data duplication and inefficient workflows.
• Portfolio Management Systems (PMS): Critical for accurate investment performance tracking and reporting. Direct data feeds are preferable to manual data entry.
• Custodial Platforms (e.g., Schwab, Fidelity, Pershing): Integration enables automated data aggregation and reconciliation, reducing the risk of errors.
• Other Wealthtech Tools (e.g., Riskalyze, RightCapital): Interoperability with other best-of-breed solutions enhances the overall functionality of the technology stack.

Data flow is equally important. The tool should support bi-directional data synchronization with integrated systems. The more automated the data flow, the less manual effort required, and the lower the risk of errors. We evaluate the availability of APIs and the ease of custom integration.

The Verdict: For Whom Is This Built?

Orion Planning is most suitable for RIAs that:

• Prioritize a standardized financial planning process: The tool facilitates consistent plan creation and delivery across the firm.
• Seek to improve advisor efficiency: Automating aspects of the planning process frees up advisor time.
• Require client portal integration: The client portal provides a convenient and secure way for clients to access their financial information.
• Have existing integrations with Orion's broader ecosystem: If the RIA already utilizes other Orion Advisor Tech products, integration benefits are amplified.

Conversely, Orion Planning might not be ideal for RIAs that:

• Require highly customized financial planning solutions: The tool's standardization may limit flexibility for complex client situations.
• Have limited integration needs: If the RIA's technology stack is relatively simple, the integration benefits may not justify the cost.
• Prioritize advanced analytics and reporting: The tool's analytics capabilities might be less sophisticated than dedicated performance reporting platforms.
• Are highly price-sensitive: While the per-advisor pricing seems competitive on the surface, the total cost can be substantial for large advisory teams. Deeper due diligence on total cost of ownership is required. Alternatives like RightCapital and eMoney Advisor should be investigated.