Orion, a leading provider of innovative wealthtech solutions for fiduciary advisors, has unveiled the results of its quarterly financial advisor pulse survey. Today at the Future Proof Festival in Huntington Beach, California, Orion CEO Natalie Wolfsen presented key findings from the survey, offering advisors actionable insights to navigate an evolving industry.
“Since Orion’s inception 25 years ago, we’ve been committed to helping advisors enhance the client experience and focus on growing their businesses,” said Wolfsen.
Key Findings from Orion’s Quarterly Pulse Survey:
- Artificial Intelligence (AI): AI adoption among advisors is on the rise, with 33% of Orion advisors already utilizing AI, and 46% planning to incorporate it into their firms within the next three years. Additionally, 42% are actively testing AI to enhance their practices. However, 36% of advisors express concern about using AI in their businesses, while 28% feel highly knowledgeable about its application.
- Technology Preferences: A significant 55% of advisors prefer a blend of bundled (integrated platforms from a single provider) and unbundled (individual components from multiple providers) technology solutions. While 27% favor bundled solutions for a more streamlined experience, 10% prefer unbundled solutions, citing the freedom to tailor their tech stack with specialized tools.
- 2024 Election: Advisors are fielding numerous client inquiries regarding the upcoming election, with 43% asking about its potential impact on the stock market and 26% seeking advice on portfolio adjustments.
- High-Net-Worth Investors: High-net-worth (HNW) clients are critical to future growth for 84% of advisors. Competition for clients with over $1 million in investable assets is heating up, with 82% of advisors pursuing advanced offerings such as direct indexing and alternative investments to meet client demands.
Wolfsen highlighted Orion’s commitment to addressing the challenges advisors face, including the integration of diverse tech solutions and the demand for personalized client experiences. “Our platform’s flexibility and tailored approach are helping Orion advisors surpass industry growth rates,” she said.
Celebrating 25 Years of Growth and Innovation
Founded in 1999 to meet the technology needs of independent advisors, Orion now supports over 6.3 million technology accounts and 2,400 advisory firms. Its platform manages $4.4 trillion in assets under administration, with a notable 17% increase since 2023.
Orion continues to invest heavily in innovation, allocating 19% of its technology revenue toward research and development in 2024, ensuring its platform evolves to meet the changing needs of advisors and investors alike.
