Eric Clarke comes home from school and helps his dad, one of America’s earliest independent financial advisors, with the generation of performance reports and the preparation of statements for his clients. It’s the 1990’s and there aren’t any products or services worth speaking of that can do this function automatically. So Eric gets this idea.
He starts recruiting college students at the local University of Nebraska to help him build it. He knows the functions that an advisor like his father needs in order to create helpful snapshots and reports for the clients. He talks it up among the other indie advisors in Omaha and they begin adopting his solution to his problem as the solution for their own practices. It’s a hit!
That’s the origin story Eric told me at dinner in Fort Lauderdale last year. And it stuck with me. It’s a perfect example of someone becoming an entrepreneur because a need arose that no one else had figured out how to address. It didn’t exist so he had to build it.
(big award, well deserved)
Fast-forward to today…
Orion now serves more than 1800 advisory firms, handling the portfolio accounting and performance reporting for over $800 billion worth of assets under administration. They’re still based in Omaha and the company now has over 400 employees. It’s an industry giant that enables thousands of advisors to serve their clients and track the assets their firms are responsible for.
When you talk to financial advisors and wealth management professionals about portfolio accounting, performance reporting and other key pieces of