As part of its efforts to help advisors and businesses better serve their customers, leading fintech provider Orion has announced several significant upgrades to its platform.
At the recent Orion Ascent event, the company announced its behavioral finance tool PulseCheck. This helps advisors engage more deeply with their clients with the ability to factor investors' personal well-being into their financial plans.
Orion finds in its second annual WealthTech survey that more advisors are incorporating behavioral finance into their practices, with 33% already using these techniques and a further 43% planning to use them in the next three years. It has been revealed that this is the plan. Driving this change is the belief that BeFi can strengthen customer relationships, trust and confidence, especially during times of market volatility.
Powered within the Orion Planning platform, PulseCheck guides investors through a reflective process focused on six key wellness categories: Happiness, Engagement, Progress, Relationships, Truth, and Strength.
“PulseCheck is about understanding the big picture of a person's life and what matters most to them,” said Dr. Daniel Crosby, Chief Behavioral Officer at Orion, who oversaw the development of the tool. . “It is designed to strengthen the advisor-client relationship and foster a truly integrated approach to wealth management.”
Alongside PulseCheck, Orion announced a new estate planning tool to help advisors guide clients through the impending $72 trillion wealth tsunami that will be passed on to heirs.
In addition to converting complex estate planning concepts, asset allocation, and inheritance schedules into easy-to-understand visual flowcharts and detailed table views, this tool provides dedicated workflows for gathering important estate planning information. Support advisors.
It also comes with what-if scenario modeling capabilities that allow clients and advisors to explore the impact of different estate planning strategies.
“Our new estate planning tools will enable financial advisors to expand their services and effectively deliver estate planning to both high-net-worth individuals and a broader range of investors,” said Orion CEO. Natalie Wolfsen said.
Orion also enhanced its compliance offering by adding new post-trade oversight capabilities. This new feature, which powers the Customer Monitoring module, aims to streamline post-trade compliance by providing compliance officers with a comprehensive view of customer activity.
