CHICAGO, Oct. 10, 2017 /PRNewswire/ -- Oranj has developed MAX (Manage, Advise, eXperience), the first open-access, end-to-end wealth management software providing financial advisers with direct access to a powerful solution that can help reduce some product and technology fees—helping advisers adopt new technology without increasing their cost of doing business, and in some cases, making investing less expensive for investors.
MAX will combine Oranj's client-facing engagement and account aggregation tools with institutional-grade trading and rebalancing functionalities from TradeWarrior Software, Inc., in which Oranj acquired a majority stake earlier this year. In addition, prominent investment management firms such as BlackRock, Direxion, Morningstar Managed Portfolios, ETF Securities, and Frost Investment Advisors will host model portfolios and funds on MAX, enabling advisers to seamlessly utilize investment solutions within their business on a single software platform. Unlike similar solutions in the marketplace, MAX is custodian-agnostic, and can integrate seamlessly with all major custodians and brokers. In addition, Shareholders Service Group and Liberty Partners Financial Services have agreed to offer MAX to the advisers in their respective networks, which cumulatively reach more than 1,500 advisers across the country.
Many investors are unaware that their investment costs include multiple layers of product and technology fees along with advisers' fees. The direct access to investment managers, and powerful portfolio construction and management tools, on MAX can remove some of these fees, which advisers are often forced to pass on to their clients—reducing both business expenses for advisers and the overall cost of investing for investors. To learn more about MAX, or reserve a spot for access, please visit www.maxadviser.io.
"As a former adviser myself, I know first-hand the value that advisers provide for their clients at every stage of their lives. MAX is a groundbreaking solution that not only reduces the friction associated with connecting and collaborating with an adviser, but can also slash the costs of both doing business as an adviser and investing as an investor," said David Lyon, CEO and Founder of Oranj. "By offering advisers free world-class technology and direct access to best-of-breed investment managers, MAX can eliminate some of the product and technology fees that, in many cases, are factored into the cost of investing with an adviser—giving advisers the power to help more Americans avoid the DIY investing approach which often leads to underperformance and emotion-based decisions."
MAX features will include:
- Adviser/Client Portal offering an unlimited number of clients and prospects a user-friendly experience when working with an adviser, and eliminating lengthy meetings and cumbersome delivery of financial statements.
- Account Aggregation tools providing access to accounts at over 25,000 financial institutions— enabling advisers to obtain holistic insight into an investor's overall financial profile, and helping clients understand the financial impact of important life decisions and adapt accordingly.
- Online Account Opening/Transfer capabilities allowing advisers to seamlessly work with clients to complete online account openings and transfers.
- eSignature Powered by DocuSign, which decreases the time and effort required to execute and deliver documents by allowing advisers and clients to electronically sign documents within MAX.
- Institutional-Grade Trading and Rebalancing software which can streamline the trading and rebalancing of accounts, saving advisers time and costs for both their clients and their business, especially during market corrections.
- Risk Assessment and Alerts from the software, which will monitor and notify advisers when accounts have drifted past their appropriate risk profile.
- FIX (financial information eXchange) Trading connection which allows trades to be sent electronically from MAX to any custodian for execution.
- Investment Marketplace complete with asset allocation models, enabling advisers to evaluate a wide variety of strategies and model portfolios from recognized investment managers and move ahead with incorporating these strategies into investor portfolios.
- Real-Time Net Worth/Balance Sheet calculations for every client which can be easily accessed by advisers.
- Secure Document Vault which stores important documents and communications going back to the prospect stage, and can be easily accessed by advisers and their clients through the adviser/client portal.
"We are excited to offer Morningstar® Managed PortfoliosSM on Oranj's MAX platform," said Nicholas VanDerSchie, Head of Managed Portfolios at Morningstar Investment Management LLC. "Our managed portfolio services allow advisers to tap into the investment expertise of our global team, freeing up their time to focus on value-added activities like financial planning and behavioral coaching."
Oranj is focused on creating the world's best digital experience for enabling financial advisers to help clients effectively manage their financial lives and personal goals, and empowering investors to make smart financial decisions, connect with financial professionals, and pursue better investing outcomes. To achieve this, Oranj builds software for servicing, collaborating, managing, and connecting, which utilizes user-friendly applications for a fully interactive human-driven, technology-assisted experience. The Oranj platform offers a secure document vault, client collaboration tools, aggregated data from more than 25,000 institutions, online account opening/transfer capabilities, real-time activity notifications, extensive data analytics, and an archive of adviser/client communication going back to the prospect stage. Oranj also offers access to institutional-grade trading and rebalancing solutions from TradeWarrior Software, Inc., in which Oranj acquired a majority stake in April 2017. For more information about Oranj, please visit www.runoranj.com or follow @runoranjdotcom on Twitter.