Orion acquires compliance and risk management company


Orion supports more than 2,200 consulting firms with $ 1.7 trillion in assets under administration and an additional $ 60 billion in combined assets between Orion Portfolio Solutions and Brinker Capital’s wealth management platform (at 30 September), he said.

BasisCode, founded in 2011, provides compliance management in a secure cloud environment, with features such as compliance testing, risk assessment, transaction monitoring, insider trading, personnel certifications and reports ready for audit.

“The adoption of regulatory technologies such as BasisCode has exploded in recent years due to increasing regulatory complexity, cost pressure and the need for additional data collection and analysis in financial services,” according to Kylee Beach, General Counsel for Orion Advisor Solutions.

“By integrating BasisCode’s extensive compliance capabilities into Orion’s technology stack, we can help customers embody a culture of compliance and make the work they do in their most critical systems more connected and more robust.” , she said in the ad.

The expanded capabilities Orion will receive as a result of the acquisition is expected to appeal to both its “core independent financial advisor clientele as well as businesses such as independent brokers, banks and custodians serving hybrid RIAs”, she added.

BasisCode provides its solutions to more than 400 companies worldwide, including RIAs, BDs, compliance consultancies, hedge funds and private fund managers, insurance companies and banks.

“Under Orion’s umbrella, BasisCode anticipates an increase in interactions between consultants and independent advisers seeking professional support,” the companies said.

Carlos Guillen, Founder, CEO and President of BasisCode, assumes the role of Senior Vice President of Technology Products at Orion, focusing on compliance products. Rick Atkinson, CTO of BasisCode, will become Orion’s vice president of application development.


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