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NorthStar Rebrands as Orion Following $10B TAMP Acquisition

By Alex Padalka April 12, 2019

In a bid to clarify its various offerings, including those at the recently acquired $10 billion TAMP business firm FTJ FundChoice, Orion’s parent company NorthStar Financial Services Group is rebranding itself and all its subsidiaries under the Orion brand name, NorthStar says.

NorthStar will become Orion Advisor Solutions and will serve as the parent company to Orion Advisor Services, which is NorthStar’s portfolio accounting service provider for advisors; the RIA FTJ FundChoice, which oversees more than $15 billion in assets under administration and offers advisors back-office support; CLS Investments, which is a third-party money manager and ETF strategist; and Constellation Trust, which is NorthStar’s custody and administration services provider, according to a press release from NorthStar. Furthermore, Orion Advisor Services will become Orion Advisor Tech and FTJ FundChoice will become Orion Portfolio Solutions, but CLS Investments and Constellation Trust will retain their names while taking on the Orion logo, NorthStar says.

While all the companies will continue operating independently, the move also includes integrating their leadership, according to the press release. Eric Clarke, currently CEO of Orion Advisor Tech, will also assume the role of CEO of the new parent company, according to the press release. Dean Cook will oversee Orion Portfolio Solutions as CEO and will support Clarke in running the new parent company as president, NorthStar says. Ryan Beach will serve as president of Orion Portfolio Solutions as well as the chief operating officer of the new parent company, according to the press release.

The recent moves are aimed at bolstering Orion’s capacity to offer integrated services and challenge the likes of Envestnet and Black Diamond, a spokeswoman for Orion tells FA-IQ.

“For more than 20 years, the Orion brand has been known as an industry leader for best-in-breed portfolio accounting technology and integrations, providing the flexibility, customization, and support financial professionals need to succeed,” Clarke says in the press release. “Now, consolidating our tech and investment companies under the same brand challenges even our largest competitors with a more connected, more seamlessly serviced, and all-around better offering, while allowing each firm to continue to invest in building upon its core strengths.”