On Tuesday,
The trio explained that in today's fast-evolving financial landscape, advisors often struggle with showing the direct impact of portfolio decisions on risk, allocation, tax implications and more. Their new portfolio comparison tool aims to take tasks that once demanded multiple advisory firm staff across various platforms, and consolidate them into an advisor's integrated dashboard.
The company says presentation-ready portfolio scenarios can be crafted in a matter of minutes, shortening the feedback loop with clients and allowing advisors and their teams to scale their businesses.
"This is a true alignment of an advisor's workflow with all of the technology in Orion's wheelhouse," Clarke said. "From BeFi and Orion Risk Intelligence to Orion Planning, Orion Trading and AI, our team has built an exhilarating next generation of Orion — threading everything together to create an end-to-end improved experience for both the advisor and their client.
"I couldn't be prouder to announce the Portfolio Comparison tool at Future Proof, where the best minds in the business are gathered to build the future of wealth management."
The assessment covers five categories of questions, including communication, worry, purpose, use and need.
Assessment topics include what money means to you, how prone you are to worry about money, comfort level asking others for money, willingness to spend some of your savings, how your mood is impacted by the markets and more.
When the assessment is done, the advisor receives a unique BeFi20 persona for each participant that can be overlaid with the results of a partner in real time to show how their money views and attitudes align — or don't — in each category.
The tool then gives advisors discussion tips to drive conversations with actionable insights, including a view into the client's financial values, preferences and behaviors and how those either converge or diverge with their partner. Crosby previously told Financial Planning that the genesis of the tool was simply seeing what a problem money could become in an otherwise healthy relationship.
Additionally, AI natural language generation is utilized to produce narratives designed to help advisors explain complex investment concepts in a way that is relatable and understandable to their clients.
Starting in November, Orion's Portfolio Comparison tool will be accessible to selected advisor beta groups. By Ascent 2024, scheduled for March 12-15, 2024, the tool will be open to all advisors using Orion Advantage.
