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Orion Launches Fee-Benchmarking Tool


OMAHA, NE, December 22, 2016 -- Orion Advisor Services, LLC ("Orion"), the premier portfolio accounting service provider for financial advisors, has launched the industry's first fee analyzer, creating custom fee-benchmarks for accounts, allowing advisors to filter based on account size, account type and services provided.

The recent Department of Labor rule -- or the Fiduciary Rule, as it is also known -- is compelling firms to re-examine their business practices and employ technology to create efficient workflows to comply. The new fee-benchmarking tool in Orion helps demonstrate advisors' fee reasonableness: a key aspect of complying with the new fiduciary standard.

The Fiduciary Rule requires advisors to charge reasonable compensation for the services provided, with "reasonableness" determined according to a market comparison. With Orion's new fee benchmarking tool, advisors will be able to compare an account's fees against over a million other managed accounts as a fee-benchmark. In addition to Fiduciary Rule compliance, this quantitative information will act as a communication tool with clients to showcase how a firm's fee schedule stacks up, providing more transparency in the advisor-client relationship and enabling advisors to effectively demonstrate their value.

Orion's new fee-benchmarking tool will allow advisors to filter the advisory fee benchmark comparisons by:

  • Type of firm (asset manager, financial planner, etc.).
  • Services provided (discretionary, non-discretionary, wrap accounts, etc.).
  • Certain account types (qualified, non-qualified, IRA, non-IRA).
  • Account size range.

"With the DOL ruling coming into effect in April, Orion is doing everything to help prepare its clients for the change in regulation," said Eric Clarke, CEO of Orion Advisor Services. "The new fee-benchmarking tool will help advisors see how their fees compare to the industry, ensuring they are charging fair, reasonable fees."

In order to help advisors prepare for the DOL ruling, Orion has written a white paper, Integrated Independence: Fiduciary Technology for the DOL Rule and Beyond, which discusses the major changes taking place in the industry from regulation to new technology and advisor fee pressure. To view the white paper, please visit http://www2.orionadvisor.com/integrated-independence-dol.

About Orion

Orion Advisor Services, LLC (Orion) is the premier portfolio accounting service provider for advisors. Our firm has unique insights into the advisory profession because it was founded for investment advisors by an investment advisor in 1999. Orion frees advisors from back-office tedium so they can enjoy their business again by devoting their time and energy to better serving clients. Orion provides the integrated and fully customizable technology solutions that advisors need to help grow their businesses over the long term. The firm's technology solutions empower more than 950 firms, has $400 billion in AUA and over 1.5 million accounts.

For more information about Orion, visit www.orionadvisor.com and follow Orion on Twitter: @orionadvisor


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