Orion Advisor Services has bought Advizr, a financial planning software provider headquartered in New York.
The companies did not reveal the value of the deal, which is subject to customary closing conditions.
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As part of the deal, Advizr CEO Hussain Zaidi and COO Mustapha Baassiri will become part of Orion’s executive team.
Zaidi will serve as president of financial planning solutions at Orion, while Baassiri will assume the role of executive vice president of financial planning solutions.
Both will remain based at the Manhattan branch of Advizr.
“By partnering with Orion, we are going to accelerate our joint mission to deliver holistic advice to even more end clients by seamlessly incorporating Advizr, Orion’s technology, and FTJ’s TAMP offering into one user experience,” Zaidi noted.
The launch of a unified platform is expected to be quick as Advizr is built on APIs sharing a common code base with Orion.
The integrated features are expected to be rolled out to customers by the end of this year.
Orion CEO Eric Clarke said: “Bringing Advizr’s incredibly intuitive approach to the firms we serve will take the client experience capabilities we provide through our technology and TAMP offering to the next level.
“Bringing together these components will help advisers fulfill their fiduciary responsibilities regardless of the current regulations and cement their value to clients in a clear and measurable way.”
