Some RIAs may be interested in what their closest 239 friends are doing in their spare time, and they use Facebook to keep up.

Orion Advisor Services is betting that many finacial advisors would be even more interested in keeping better contact with their own practice.

With that thinking in mind, the Omaha-based portfolio management software outsourcer will create a page in its portfolio management system that promises to borrow the bells and whistles of the famous social media website. The page will be modeled after Facebook’s News Feed and “Wall” and will roll out in June.

“There’s something to this,” says Eric Clarke, CEO of Orion. “I think there’s something we can learn from social media.”

Facebook-like style

The page will aggregate news of current events in a practice such as substantial deposits or client meetings and have comments aggregated in Facebook-like style.

“We’re going to make it fun and interactive,” Clarke says. “It’s a way for advisors to see what’s going on when they’re on the road.”

If advisors want more information about an event, they can click on the posting about it. The thinking is that it’ll be effective for RIAs that have multiple branches.

The Orion page will have a 30-day archive to see what happened in the previous month.

With so much interest in all things social media, Clarke feels certain that the innovation will get plenty of notice.

A lot of buzz

“We think it’s going to create alot of buzz,” he says.