Deeper Schwab-Orion integration includes RMD calculations directly from Schwab as year-end deadline nears and streamlined new account opening

With IMPACT^® kicking off today in San Francisco, Orion announced significant enhancements to its integrations and workflows with Schwab Advisor Services, providing advisors with a more seamless and efficient experience. Orion advisors who custody with Schwab now have access to several new integration points designed to improve advisor workflows, boost efficiency and enhance client service.

RMD Calculations Directly from Schwab

As advisors gear up for year-end planning, the integration’s focus on required minimum distributions (RMDs) will prove especially timely. The enhanced RMD functionality available through Orion’s Portfolio View allows advisors to pull RMD calculations directly from Schwab, ensuring accuracy and eliminating manual processes. Orion’s RMD dashboard is a workflow-oriented tool to create efficiencies for advisors managing client RMDs across multiple custodians – all in a single interface. Advisors can update RMD amounts, review statuses such as on/off track, and track distribution frequency to satisfy RMD requirements. Additionally, within the Orion RMD dashboard, advisors can view if an account has a systematic distribution method set up to ensure RMD requirements are fully met.

Access to Ancillary Account Data

In addition to RMD data, Orion’s deeper integration with Schwab provides advisors with other ancillary client data. Whether it’s information on banking or beneficiaries, advisors can find timely and accurate information without leaving the Orion platform. A key benefit for advisors is the ability to view this information at both a book-of-business level and at an individual client level when they drill into specific client accounts.

Intuitive New Account Opening

Opening new Schwab accounts through Orion has never been easier thanks to recent workflow enhancements that reduce data entry. Advisors who use Orion for Schwab account opening along with Redtail CRM to help manage their book of business and growth opportunities now see up to a 30% increase in the number of data fields that automatically populate in new account opening paperwork.¹ This results in a more efficient experience throughout the entire new account opening process, from setting up new client accounts to managing existing ones, all without needing to toggle between systems.

“Orion’s enhanced integration with Schwab takes our commitment to simplifying advisors’ workflows to the next level. By providing more streamlined access to critical custodian data, we’re enabling advisors to spend less time on operational tasks and more time focused on their clients and growing their businesses,” said Natalie Wolfsen, CEO of Orion. “Whether it’s managing RMDs more efficiently or simplifying account opening, we continue to invest in the tools that help advisors deliver a superior client experience.”

These integrated workflows are available to Orion advisors who custody with Schwab and can be leveraged inside Orion platforms including Redtail CRM, Orion's Advisor Portal, and Salesforce via the Portfolio View integrations.

About Orion

Orion is a premier provider of the tech-enabled fiduciary process that transforms the advisor-client relationship by enabling financial advisors to Prospect, Plan, Invest, and Achieve within a single, connected, technology-driven experience. Combined, our brand entities, Orion Advisor Tech, Orion Portfolio Solutions, Brinker Capital Investments, Redtail Technology, and Orion OCIO create a complete offering that empowers firms to attract new clients seamlessly, connect goals more meaningfully to investment strategies and outcomes, and ultimately track progress toward each investor’s unique definition of financial success. Orion services $4.7 trillion in assets under administration and $72.5 billion of wealth management platform assets (as of September 30, 2024) and supports over six million technology accounts and thousands of independent advisory firms. Today, 17 out of the Top 20 Barron’s RIA firms² rely on Orion’s technology to power their businesses and win for investors. Learn more at Orion.com.

¹Source: Orion internal study.

²Source: 2024 Top 100 RIA Firms, Barron's, 2024.

2753-OAS-10/25/2024

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