Big money managers might be on the run when Orion Advisor Services debuts in March a tax-smart direct-indexing widget for financial advisors. The new tool lets advisors build their own trackers and has the potential, Orion claims, to boost customization for separately managed accounts while lowering costs.
The Omaha, Neb.-based portfolio-service provider to 1,400 RIAs and their affiliated representatives says in a press release its Advisor Strategy and Tax Return Optimization tool — “Astro” for short — lets FAs tailor tax-efficient non-qualified SMA portfolios to individual clients “faster and with less expense than ever.”
Orion will charge a flat rate of $50 per account per year to use Astro, the company’s CEO Eric Clarke tells FA-IQ.
Using Astro, advisors can supposedly do things like replicate indexes with customized tilts, mesh legacy stock positions with model portfolios, accommodate environmental, social and governance requests, and get “notifications when an account is out of tolerance” along with “automated tax-loss harvesting,” according to Orion.