Orion Advisor Services, LLC Surpasses $100 Billion In Assets

Asset Growth and Completion of SSAE 16 Type II Examination Strengthen Orion's Existing Commitment to Free Advisors from Back Offices

Mar 05, 2013, 09:08 ET from Orion Advisor Services, LLC

OMAHA, Neb., March 5, 2013 /PRNewswire/ -- Orion Advisor Services, LLC ("Orion"), a premier portfolio accounting service provider, announced today that its assets under administration have exceeded $100 billion. This is more than triple Orion's $30.2 billion in assets under administration as of January 1 of 2010.

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Orion's extensive growth over the past three years was facilitated by the success of its innovative and customized back-office solutions. By allowing advisors to outsource the daily duties of back-office administration, Orion's integrated suite of services makes it easier for advisors to focus on serving clients and increasing efficiency, profitability, and scalability. Since Orion was not launched with the help of private equity or venture capital, the firm's dedication to the needs of advisors is never eclipsed by the interests of equity partners.

"This milestone, which makes Orion the nation's largest privately owned, independent portfolio accounting service bureau, would never have been achieved without the support of the advisors that trusted us to help them expand their businesses," said Eric Clarke, President and CEO of Orion. "Our growth and independence enable us to remain committed to providing advisors with the tools they need to spend more time on direct client-building activities and enjoy the relationship side of their practices again."

In addition, Orion recently completed an examination in accordance with the Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization. An SSAE 16 examination, which was performed by an independent auditing firm, is widely recognized as representing that a service organization has been through a comprehensive evaluation of its control activities. The SSAE 16 guidelines were established by the American Institute of Certified Public Accountants (AICPA), and the examination results signify that Orion has managed to maintain the superior quality of its services while undergoing expansive company growth.

"The AICPA seal of approval underscores Orion's commitment to liberating advisors from their back offices through our comprehensive suite of solutions that enable them to focus on portfolio management, client relationships and business growth," said Jon Reiners, Vice President of Institutional Business Development for Orion. "This will especially assist advisors seeking a service partner by providing them with the knowledge that independent due diligence has been completed, and that the results show that our processes meet the most thorough of industry standards."

Orion's completion of the SSAE 16 Type II examination indicates that selected Orion processes, procedures and controls have been formally evaluated and tested by an independent accounting and auditing firm. The complete report is available for review by Orion's clients by request.

To request more information or to speak with Orion, please contact Dana Taormina at 973-850-7305 or dtaormina@jcprinc.com.

About Orion Advisor Services, LLC
Orion Advisor Services, LLC, is the premier portfolio accounting service provider founded by and for investment advisors. Orion's mission is to liberate advisors from their back offices so they can enjoy the client relationship side of their business again. Process-driven solutions bring efficiencies to operational areas including new account set up, trading, reconciliation, fee billing, and client communications. Orion services feature the integration, scale, and customization advisors need to support business growth.

Founded over a decade ago, Orion was formed to address the technology needs of its sister company, a fee-only independent registered investment advisor whose growth was constrained by its existing portfolio management platform. Unable to find the right solution, Orion built its own. Today, the firm empowers 300 advisors and administrates over $100 billion in assets for more than 500,000 accounts. For more information about Orion Advisor Services, LLC, visit www.orionadvisor.com.

CONTACT: Dana Taormina

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