Orion will take a page out of Facebook to help RIAs achieve better inter-office chats
The Omaha-based portfolio management outsourcer sees potential in co-opting social media methods
2 min read- Orion integrates Facebook-like features into its portfolio management system.
- New 'News Feed' aggregates practice updates like deposits and meetings.
- Enhancement aims to improve inter-office communication for multi-branch RIAs.
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.
A closer look at Orion Advisor Services' software and what's in store for its next release
“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.
Story Timeline
“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.”
RIA Central has launched its bid to be the Facebook of RIAs
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.
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