Hello and welcome to how to open new accounts in 5 minutes while still providing the personal touch webinar. This will be a webinar that offers Q&A, so while you're watching this presentation, definitely feel free to send us your questions along the way and we'll be happy to answer them in the chat as we go. My name is Brian Morgan. I'm director of product at Orion. I work on Orion's financial planning tool, client portal and mobile app. And today I'm joined with Tim Welsh, who is President and CEO of Nexus Strategy, a leading consulting firm to the wealth management industry. Prior to the founding Nexus strategy, Tim was the director of Business Consulting services for Schwab Advisor Services, where he led the development and marketing of practice. Management resources for independent advisors. Just a quick at a glance about Orion, so we serve about 2300 firms, independent advisory firms with over 52,000 active advisor reps served. We have employees stretched across the country. We we continue to grow which is really exciting on our platform. We have over 3 trillion in assets, over 5,000,000 accounts on our turnkey asset management. Platform, we have over 56 billion and wealth management assets and now with our recent acquisition of Redtail, we also serve over a 100,000 users with those 19,000 firms. So you know with Orion we definitely can help with all different sorts of services that affirm may need. For us I would say a, our mission statement has been prospect, you know helping advisors prospect, plan, invest, achieve and with this webinar and with the demo that I'll be doing later on. I think this is a great example of that where we'll be able to help you start with that prospect you feed phase, you know help you grow your business, give you ways to help with the client acquisition and then once you get those prospects interested, you know planning, providing you a way to go through. You know, goals LED, a goals LED financial planning experience and then once you've done that plan, helping you connect those goals to different investment products and services and then you know once you have the client investment invested. You know, the cheap portion for us is just making sure that you can continue to make sure that your clients are successful. So we'll definitely show the client portal portion of that as well. So with that, I'm going to turn it over to Tim to go through his research findings. Thanks so much, Brian. Appreciate that introduction. And it's amazing to see the evolution of the Orion platform through the years, but I think it's definitely one of the great success stories here in wealth management industry. So it's been my pleasure to do some research for the team here and we looked at the perennial question, problem, answer, solution, everyone searching for which is how do we scale this business as we know it's a high touch. Service model advisors work very closely with their clients, but there are opportunities we think to streamline a lot of that activity. Through technology to be able to serve more clients and help advisors grow faster and ultimately serve more investors along the way. But that's challenging. Again, sort of a conundrum. If we're going to do the personal touch, how do you make it fast? Easy. Some firms may say, hey, don't automate this because that may take away what I like to do. But we're going to argue here that actually automation is going to be the key to success and providing an outstanding client experience. And again, you can sort of see here some of the, the top level findings that we found from talking to advisors that they really love the personalized touch, but you know it does slow them down. They can only handle 405060 clients at a time per advisor. How do we double, triple, quadruple that. And a lot of that has to do with because of the time intensive stuff behind the scenes. Again, these are small businesses that we're running and there's lots going on. So ultimately we find that a lot of time is spent actually on the back office or admin stuff and not in front of clients. In fact, some of the research has shown that it's up to 50% of the time the advisors have on a daily basis. Is really going towards just running the firm and so how do we leverage that, streamline that and of course we would like to look at specific activities and daily basis of advisor one we found account opening and funding has become really a great opportunity to automate streamline and we'll talk about this problem. I mean obviously it's an opportunity because you're bringing on a new client and that's growth and that's new revenue and that's awesome. But of course you know the industry has been plagued you know with paperwork and. Very regulations and all these different things in terms of forms and filling out. And a lot of that has been done, you know, through paper and pen faxing and overnighting and it just slows it down. So how can we attack this problem to bring again some of these workflows that are sort of disparate and all over the place, again depending on which custodian you're using? And in fact, so much that we've while we've found that the Robo advisor experiment didn't really work, advisor still clients still want to work with humans. They did come up with some pretty slick ways to open new accounts on the phone. Mobile do it very quickly and I think that's the opportunity that the industry is really adopted and that is a great way to go. And some actual firms have looked at the robo platforms to do that. But what they found again, it's very limiting. I mean they only offer vanilla cookie cutter, you know, automated solutions and it really doesn't work within, again the holistic approach of advisor and let's come up with a new idea here and I think. This is really how we bring the best together in terms of a digital approach. To open these accounts in an integrated workflow and it starts as simple as you know. The advisor just sending a link to a prospect saying hey, fill this out, go ahead and log in and create a password. By the way, this will be the only user name and password you'll need for the life cycle at the firm. This model also then kind of has the advisor DIY and the client, I'm sorry, the client DIY through that questionnaire to input the data just like any other form you fill out to get your airplane ticket or get your. Hotel reservation, we've all been typing in that same data for years. It's almost like the the same process that we can leverage here. But what we're adding on top of this now is an actual, you know, financial planning exercise. And also the risk Profiling Questionnaire is that you need to fill out to determine again what sort of asset allocation models the client wants to go through. So again, this can all be done by the client or the advisor can kind of Co drive it with a screen share and be able to come up with a new opportunity to present an automated. Actual plan, again, it's not the full blown ones you see out there. However, it is very robust, strong, has the investment portfolio and ultimately when people really want to get started with an advisor relationship, they don't want to have to say, OK, we have to go through this estate stuff and all these legacy things, hey, I just want to start you know, investing my money. This is a great solution to do that because it's going to generate this model for the client based on your bespoke approach on how you want to load up your models and your approach. And that recommendations then translates into a process where they can actually then start clicking to open that account. Again not the out of form. We're actually not informed. We're actually doing you know organic technology to open this account and then even fund it through ACH accounts and again that's a real and then process it's all digital. Again the client can do it themselves or the advisor can help you know, help them support them through a Co browsing experience. But ultimately we've what we've done here is. Found a prospect, worked with them, come up with their financial plan, translate that to an investment portfolio and have the account funded. That's incredible streamlining of the process, particularly for advisors. We're looking to work with you know maybe the next Gen clients of their existing clients or for investors who just don't want the full financial planning experience, but they still want to have an approach and a goal to manage to. We think this model is going to be transformational and again title this webinar is all about. 5 minutes. I think what you can do with the rest of your day if you can be able to accomplish all these tasks so quickly. So clearly there's benefits to the process. The advisors deliver that plan. You know, you are right away already in the planning experience building that relationship. You have the ability to customize these strategies so that they are exactly what you're doing for your other clients, their partner parcel to your process. So there's nothing new, nothing cookie cutter here. These are personalized portfolios. And again, you know you can tap into your models or even the broader world of Orion with communities and all those portfolios. You can bring them in to really have a robust investment planning offering in this digital format. So we think this from a research point of view is the future for how even with the sophisticated $1,000,000 client you need to open that account, this could be a great way to do it. And so let's talk about how people are using it in in real life. And again Branson shows a sweet demo with this, but you know, here's a great firm first affirmative one of the original sustainable investing firms that kind of pivoted from portfolios that they would do for clients to now supporting advisors. And it's all about sustainability. But what they need to do is they need to bring together those portfolios for their advisors to be able to tap into their strategies and this allows them to do that through this automated solution. So they immediately can provide the advisory advisor that are working with them a great way to do this and bring it all together. And also because of these existing infrastructure that Brian showed you in terms of all the other capabilities that Ryan has accumulated from Redtail to risk intelligence, which is the former hidden levers and the way they run their portfolios. Very informative. They'll be able, they're able to keep their tracking errors down to less than 1.2%, which in the world of sustainability and you know, managing portfolios is incredible. The key is that there's integrations behind the scenes, you know, a lot of work has been going on and aren't going to show you that. But Apex has been a tremendous partner to the industry and bringing this sophisticated end to end digital focus to be able to run portfolios and manage. Portfolio, there's a great quote from George, the founder. Without Orion apex, we would not have been able to come anywhere close to what we provide value space investing on a personalized basis. And what that really means is that this these portfolios would have to be $1,000,000 plus if they were manually done. Now they can bring it down to about $25,000, which I think is just a remarkable achievement through this integration between Orion and APEX. Which is actually a great segue someone handed back to Brian and he's going to show you a demo. So appreciate the opportunity to share with some of the research that we've done. And I think it's really incredible time in the wall space that now we're starting to see that Holy Grail personalization at scale is happening live right in front of us. All right. Thank you so much, Tim for that presentation and and really helping us. You know as we thought about this idea and as we started to build this out, really appreciate your help and and and doing that research and really confirming that we were heading down the right direction. And you know just as a quick reminder, you know as you're watching this demo, definitely feel free to send us some questions through the chat. We'll definitely be helpful. Happy to answer those now or if we can't get to them during the web. Webinar we'll we'll we'll make sure we get to you after the fact. So let's, let's jump into this demo, just because I know when I watch these webinars, it's always good just to see it right versus talk about it. So this will be the the landing page for a prospect. So Tim mentioned, you know, you're, you're trying to work with the prospect, you want to help them open an account, they'll be able to click on a link and create their username and password. And then they'll be brought to this screen. And you know, when we think about setting that link in prospecting, this could be sent 1 by 1, right? So I can send this to a prospect that already have a relationship or even an existing client that I'm already working with. Or I can send out a link that could be added to, let's say, e-mail campaign, social media campaign, or even to your website as, let's say, a button where they can click on the link, they can register and then they'll be brought to this page to start the account opening process. So. First question, what's their goal? Is it really going to be, you know, investing, let's say for long term? Is it for retirement? This really helps us figure out which type of account they're looking to open. So, you know, if it's a retirement account, Traditional IRA, Roth IRA, you know, the common ones. You would expect if this is a taxable account, it'll be single or joint. So I'll go single. Will show date of birth. A total amount for investable assets. So part of this is, is to you know, help with the account opening. Part of this is also just a simple planning workflow that we can show the client some results, some estimates and that's why we're going to be asking some of these questions. So how much they have in investable assets, how much do they save per month? Then we'll take them through a risk tolerance questionnaire. There are two options for this. This will be the shorter questionnaire that I'll show you. It's seven questions long. It focuses focuses just on risk tolerance. We also have a new 3D risk profile which takes into account not just risk tolerance, not only just risk tolerance, but also risk composure and risk capacity as well. So it's definitely more thorough. For the purpose of the demo, I'm going to keep it short, so. Go through these risk tolerance questions. So I'll just make some changes so you can see what it looks like. These are, you know, very standard questions that I'm sure you've seen before in other risk tolerance questionnaires. Right. Uh, then we'll be presenting a model. And so based off of the initial questions, as far as you know, their date of birth to help us figure out an approximate retirement age based off of their current investable assets and then based off, you know and also how much they're saving per month. And then based off the answers to the Risk Tolerance Questionnaire, we're going to present you an estimate here. Now these models, the moderate models, as Tim mentioned before, these, you know, these could be your models, so you could have as many models as an option as you like, you know, 357, whatever the number is, you can have different groups of models. So as you think about these campaigns, you know for one prospect I might want to send them one group of models and then four maybe let's say a higher networth prospect, I might want to send them a different group that maybe has more alternatives, just as an example. Right. So the models that you're these, these either the prospect or the client can choose from is going to be dictated by you. So that's why I think one of the really nice things here, it's not just cookie cutter models, these are your models that you would use in practice to open these accounts. So this modern model, this will be your moderate model, you can go up or down a risk level, which is why we have these three options here. We also have some what ifs that the client can do. So what if I were to change my starting investment amount or how much I save, you know how would that impact? The calculations here, the years before withdrawal. So we take that date of birth, we look at age 65. So maybe they want to, you know, extend that, make that shorter, right. So if I were to either use this slider, I could type in here. You'll then see the different growth here. So again we'll give you some what ifs. You're able to go up or down a risk model here. You can change the answers to the inputs to get to this estimate. But you know, once the client is comfortable, OK, I want to open this account. Click the button here. Then we'll present the client with your agreements so you know you're you'll be able to upload as many agreements as you like. For the client to sign, they'll be required to click on the agreement. Now they'll then have to Scroll down at the bottom here and then hit accept. Once they do, they'll be able to hit continue. So once they have accepted all of the agreements, they can hit continue. Then we'll present the account opening form. So as Tim mentioned, this is working with Apex, Apex as the custodian. For those of you who are not familiar with apex, you know they're really the custodian behind the scenes, a lot of the really popular and successful Robos out there. So that's one of the reasons why we wanted to partner with them just because they've been so successful in this space and really they're, they're allowing us to provide that fully digital experience that we think that clients at at you know in the year 2022-2023 are really expect. So these are going to be you know Apex's account opening questions. Um, you know, pretty straightforward. Pretty similar to what I'm sure you have seen before. Something to quickly answer these. Now, some things to point out. Apex will be doing some some nygo behind the scenes for this. So let's say they put in, you know, for example, a zip code that doesn't match up with the state. You know that will then present an error message as an example. So we'll be able to do some of that for you as part of this process. All right. Some of these questions we can default for you, but there will be some that will will require the client to answer and I think Tim mentioned this in his portion as well. This could be something that the client goes through and and right now I'm logged in as the client. So this could be something the client goes through on their own, but there's also a version of this where you as the advisor can actually go through this experience. Answer Pretty much all the questions for the client and then send this to them so that they can log in and confirm everything's correct. Sign off on the necessary agreements. And then we can get the account open as well. So for those of you who prefer more of the white glove approach, we still allow for that in in this experience as well. So we'll play back all of the you know the the answers that the the client answered here just to make sure they made a mistake. There is a an app you know apex is custodial account agreement that they'll have to say yes to. So All in all this just took you know the the like the webinar said about 3-4 or five minutes to to go through. Umm. Once they hit confirm everything's correct here, we'll then look to open the account with apex. We'll also then create the household inside the Orion system. So, you know, this way you're not having to duplicate efforts. We'll start the account opening process on the apex side. We'll start the, the household creation on the Iranian side so that when you're ready to actually, you know, have these accounts be traded right, that moderate model that they selected, you know, all these questions and answers are going to be sent so that it's pretty much tied up ready for ready to go. For you to trade these accounts, alright, so once that account is opened, we can go to the funding. So here you'll see it says to link account. So this is where we'll actually use Plaid to do the linking for us. So your clients will enter their credentials. So for example with their checking account, they can enter those credentials, choose the account that they want to link with. So they have multiple accounts with the institution. They'll say, I want to choose, you know, this particular account. Then they'll list the account, they'll put the dollar amount and then they can say this is a one time you know, transfer. This is something they want to do monthly or every other week. So not just a one time event but could also be recurring as well. So once they add those funding instructions you know then you're you know, then the client should be good to go as far as getting this account at least funded and then you can get it traded. And also too in the future, clients can always go in into the client portal and and look to maybe do additional transfers. They can also do attacks as part of this as well. So you'll see the transfer and brokerage or IRA. So Acast is available as part of this experience. But again you know as part of the account opening they go through, they answer all those questions, all those questions, they get the account opened and they can fund the account all within one login experience instead of having to log out, wait for you to do something. On your end. And then once the account is opened, then it'll go through the normal reconciliation process that we do with Orion every day. So you know once it counts funded and we have performance on it, clients will be able to see this as part of that that same client portal experience you would normally provide. So Tim mentioned this part of of his portion, that one login for your clients they're going through. They're able to see everything else that you're doing with them you know as their advisor. So all the accounts that you're managing for them, any financial planning, any of the other integrations you may be taking advantage of for our client portal. But you know opening the account, seeing those accounts performance, custodial statements flowing through. We also once you open the account we'll actually take some of the the questions and answers and we'll we'll download those into the the clients document vault so that you have a playback. Of everything from the questions and answers to the agreements that they signed off on the the risk Tolerance Questionnaire, so all that will be available in the document vault. You know just so that clients have that and you and your firm have that information as well you know readily available versus having to to go to apex to to find that information. So for those of you who haven't seen the client portal, this is a branded experience. So you know your logo will shine through. You know this is an example of a firm logo here, even colors. So this line, some of the buttons, these will be your colors, your buttons. Clients will be going through this, this portal to open their accounts like I said, to see all their account balances, their performance, they can link outside accounts, so for example like 401K's, checking accounts, banking. And that's credit cards so that they you can help them create that consolidated balance sheet so that you know this can really be that one stop shop for all their finances to see everything that you're managing to see everything else that impacts their financial life. You know we have financial planning as part of this portal as well. We have a Ryan planning formally known as advisor that you can use as an Orion client. This is just part of being Orion client. There's no additional cost to user Ryan planning. We also do have integrations with money guide pro with E money. And with right capital as well if you use those planning softwares. Talked about the document vault, so this could be a place to see those custodial statements. So from apex, we'll be able to show documents flowing in, you know, monthly statements, for example, confirms tax reporting documents and any sort of quarterly reports that you're generating can be flown through, can flow through to this document vault. Clients can also upload documents like estate planning documents, insurance policies. So it's a really great way to help them get organized. You know, you and your advisors can also upload documents here as well. Um, so it's a great place to exchange information. So this is part of that client portal experience again as you're opening accounts? Those account opening documents will flow through to this portal as well. So. You know, I'll, I'll, I'll end the demo, which is again that that the account opening can take just a few minutes. Once accounts opened, it's really easy. We try to, we try to make this as easy as possible and that you're not having to duplicate efforts when it comes to now having to open the household inside of the Orion system. All that information is available to help you with trading the account and then once the account is fully funded and traded, it'll just be like any other account in the Iran ecosystem, so. Again just trying to make this as easy as possible for you to actually integrate this into your practice. All right. So with that I'll, I'll wrap it up here. First I want to say thank you to Tim for you know really helping us confirm that, you know, this, this account opening workflow, the direction we're going to help our firms is really going to provide a huge benefit so. I hope the demo was helpful again. If you have any questions feel free to add them to the chat. Also feel free to request the demo, there should be a nice Big Blue button there for you to to Click to request a demo. Within that demo we can do a much through a much more thorough demo of just the overall Orion platform and the Orion experience. But but again, thank you so much and hope you have a great rest of your day. _1732307962876