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Orion to Acquire Redtail Technology, a Web-Based CRM for Financial Advisors

Category: Press Release

OMAHA, Neb., & SACRAMENTO, Calif., April 19, 2022 /BUSINESS WIRE/ (original press release here) — Orion Advisor Solutions, a provider of transformative wealthtech solutions for fiduciary advisors, announced today a definitive agreement to acquire Redtail Technology, a leading web-based client relationship management (CRM) software firm serving the wealth management industry. Together, the two firms are poised to transform the way advisors scale their businesses through technology and outsourced solutions, enabling them to focus on client service and maintain their competitive edge.

“This acquisition presents a game-changing opportunity for growth-focused independent advisors, as it will make our robust tech stack ecosystem even more valuable. Redtail has long been a valued technology integration partner to Orion, and we share a core value of being committed to serving independent advisors,” said Eric Clarke, founder and CEO of Orion. “The addition of Redtail to Orion will further enhance our user experience. By embedding Redtail’s highly regarded, next-generation CRM software with our portfolio accounting and advisor technology, we will connect the advisor-client journey with a highly integrated, most-in-one technology suite.”

The addition of Redtail’s industry-leading CRM technology to Orion’s open architecture platform can serve as the foundation for advisors’ tech stacks, connecting the advisor-client journey via an end-to-end seamlessly integrated platform built around a CRM hub.

“We created Redtail nearly two decades ago to enable independent advisors to provide differentiated client experiences and better manage their client base through systematized and, therefore, repeatable processes. Our aim has always been to free advisors up to spend more time engaging with their clients and prospects in meaningful ways. Now, the opportunity to join Orion will greatly benefit both companies’ client bases via a seamlessly connected, end-to-end technology experience that solves some of their tech integration challenges,” said Brian McLaughlin, co-founder and CEO of Redtail. “We’ve worked side-by-side as integration partners for many years; this is a natural progression for us to come together to benefit RIAs who seek an integrated suite of technology to grow their businesses.”

Post-close, Redtail co-founder and CEO Brian McLaughlin will become Orion’s President of CRM reporting to Orion CEO Eric Clarke. At that time, McLaughlin will join both Orion’s executive team and its Board of Directors. In addition to McLaughlin, Redtail’s executive leadership team and employees will continue working out of their existing locations as part of Redtail, which will become a brand entity of Orion.

The transaction is expected to close in the second quarter of 2022 following the completion of customary closing conditions, including regulatory clearances. After the deal is complete, the combined technology platform experience is expected to come to market quickly as APIs and deep integrations are already in place. As open architecture platforms, Orion and Redtail will continue to support their existing technology integrations for clients.

To learn more, visit the Resource Center at https://orion.com/redtail/. Additional transaction details will not be disclosed.

About Orion Advisor Solutions

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, HiddenLevers, and BasisCode 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. As a result, Orion supports more than 2,300 independent advisory firms with $1.9 trillion in assets under administration and $60 billion of wealth management platform assets (as of March 31, 2022), making Orion the platform of choice for all growth-focused advisory firms looking to strengthen their client relationships, gain a competitive edge in a crowded marketplace, and build strong, profitable businesses. Learn more at www.orion.com.

About Redtail Technology

Founded in 2003, Redtail Technology is a leading provider of web-based Client Relationship Management (CRM), compliant text messaging solutions (Redtail Speak), paperless office, and email archiving solutions in the financial services industry. The company is dedicated to helping advisors efficiently grow their firms by providing them with the core technologies that drive their day-to-day operations, offering low cost and easy to implement applications and integrating with many of the industry’s most widely used applications. As a pioneer in the financial technology industry, Redtail is committed to providing advisors exceptional customer service and strives to contribute in meaningful ways to its local communities in California, Arizona, and Georgia. For more information, visit www.redtailtechnology.com.

Contacts

Michele Steinmetz
Director of Communications, Orion
215.817.5610
michele.steinmetz@orion.com

Candice Hudson
FleishmanHillard, on Orion’s behalf
580.564.5995
Candice.hudson@fleishman.com