Orion Completes Acquisition of Summit Wealth Systems, Welcomes Reed Colley as President of Orion Advisor Technology

Orion, the premier provider of transformative wealthtech solutions for financial advisors and the enterprise firms that serve them, announced today the completion of its acquisition of Summit Wealth Systems, an award-winning advisor technology provider. As part of the transaction, Summit’s co-founder and CEO, Reed Colley, joined Orion today as President of Orion Advisor Technology, reporting to Orion CEO Natalie Wolfsen. The definitive agreement was announced December 19, 2024, and further transaction details will not be disclosed.

“Today, we welcome Reed Colley and Summit team members to Orion and start bringing Orion and Summit Wealth Systems together to benefit advisors by streamlining their workflows and helping them build meaningful relationships with investors,” said Natalie Wolfsen, CEO of Orion. “Reed's proven, visionary leadership combined with Summit's powerful software will further enhance our unified, flexible tech ecosystem, providing advisors with pioneering, connected solutions to meet the complex needs of their clients and drive growth at every stage.”

Reed co-founded Summit Wealth Systems in 2019 to elevate technology for modern wealth management advisors. In 2003, Reed founded Black Diamond Performance Reporting (acquired by Advent Software in 2011) to address the need for a fully outsourced, internet-based performance reporting application tailored for wealth managers and investment advisors.

“Integrating Summit Wealth Systems into the Orion ecosystem is set to be a game-changer for driving advisor success,” Reed said. “The upcoming integration of Summit with Orion’s connected end-to-end wealthtech platform technology will bring tremendous value to financial advisors and the investors they serve. Our combined capabilities will be unparalleled in the fintech space. I am beyond excited to step into the role of President of Orion Advisor Technology.”

Summit’s 12 employees joined Orion today. Summit will maintain all existing business relationships and continue to prioritize the enhancement, service and support experience. Existing Summit clients should expect no disruption to their current service and will be among the first to benefit from Summit’s expanded capabilities. Summit is now a brand entity of Orion. Orion will continue to offer Summit’s software as a standalone option and, in the near future, will also make it available as part of Orion Stacks.

Join our Webinar on February 12

Orion will host a webinar on February 12 at 1 p.m. CT/2 p.m. ET, featuring an exclusive look at the future roadmap, details on benefits to advisors, a demo of Summit’s software, and a Q&A session with Reed Colley and Trent Mumma, Orion’s Chief Product Officer. Click here to register.

About Orion

Orion is a premier provider of the tech-enabled fiduciary process that transforms the advisor-client relationship by enabling financial advisors to Prospect, Plan, Invest, and Achieve within a single, connected, technology-driven experience. Combined, our brand entities, Orion Advisor Tech, Orion Portfolio Solutions, Brinker Capital Investments, Redtail Technology, and Orion OCIO create a complete offering that empowers firms to attract new clients seamlessly, connect goals more meaningfully to investment strategies and outcomes, and ultimately track progress toward each investor’s unique definition of financial success. Orion services $4.7 trillion in assets under administration and $72.5 billion of wealth management platform assets (as of September 30, 2024) and supports over six million technology accounts and thousands of independent advisory firms. Today, 17 out of the Top 20 Barron’s RIA firms¹ rely on Orion’s technology to power their businesses and win for investors. Learn more at Orion.com.

¹ Source: 2024 Top 100 RIA Firms, Barron's, 2024.

About Summit Wealth Systems

Summit has built a powerful, award-winning wealth tech platform that enables advisors to focus on guiding their clients toward a life of abundance while growing their businesses. Summit's design-forward approach counters complexity by streamlining and automating the work advisors do every day. The platform combines unified data with an elegant experience that advisors and clients love. Summit won 2022, 2023 and 2024 "Wealthies" industry awards for Disruptor, Innovation and Client Portal categories. For more information, visit summitwealth.io.

3322-OAS-12/31/2024

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