2020 "Wealthies" competition honors outstanding achievements in the financial services industry
CHICAGO, July 16, 2020 (Newswire.com) - Oranj, a single platform for financial advisors to streamline portfolio management and client service, has been named a finalist for the WealthManagement.com (“Wealthies”) award in the category of Model Marketplaces. The Wealthies recognize outstanding achievements by companies, organizations and individuals that support financial advisor success.
We are honored to be chosen as a finalist. We are really proud of our Model Marketplace. We started Oranj to help financial advisors run better, more profitable businesses, and to help more investors reach their goals. Our fast growing Model Marketplace is a big part of delivering on that goal and we're gratified to be recognized for our performance and accomplishments.
“We are honored to be chosen as a finalist. We are really proud of our Model Marketplace,” said David Lyon, founder and CEO of Oranj. “We started Oranj to help financial advisors run better, more profitable businesses, and to help more investors reach their goals. Our fast-growing Model Marketplace is a big part of delivering on that goal and we’re gratified to be recognized for our performance and accomplishments.”
Oranj has seen an impressive influx of new asset managers on the Model Marketplace (Marketplace). The platform launched in tandem with Oranj in late 2017 with four asset managers offering approximately 40 products via the platform. The platform now has 26 asset managers and nearly 2,000 products on the Oranj platform. Advisors can select from strategist’s models, custom models they create themselves, and sub-advised models.
“The number of participating asset managers in our Marketplace has grown fairly significantly,” stated Lyon. “In fact since January 2019, partner assets have increased by over 86%, providing advisors with a significantly expanded solution set for managing client portfolios.”
The Marketplace is a single place for advisors to streamline portfolio management with custom model capabilities and access to pre-constructed models. To ensure the Marketplace provides free access to an extensive and diversified selection of investment solutions, Oranj is focused on adding strategically-aligned, industry-leading asset managers, strategists and sub-advisors.
“Strategist models, as they have been typically commercialized in the industry, have included overlay fees,” continued Lyon. “Those overlay fees have typically prohibited a lot of advisors, particularly independent RIAs, from adopting models because many advisors are conscious of management fees. Now, the emergence of low-cost model marketplaces and the growth of models that populate these marketplaces have stripped away much of the friction for broader advisor adoption.”
Adding more products to the Marketplace gives advisors a diversified toolkit of asset classes, risk profiles, target allocations, tax profiles, individual equities, ESG options, and passive/active products and strategies. Additionally, to help advisors better leverage the expertise and services of sub-advised models, Oranj introduced streamlined workflows.
With the Oranj Marketplace expanded solutions, advisors have a toolkit to streamline portfolio management, which should in turn allow them to spend more time on client-facing and business development efforts.
METHODOLOGY FOR THE 2020 AWARDS
A panel of independent judges made up of top names in the industry chose the finalists and will in the coming weeks determine the winners of the sixth annual WealthManagement.com Industry Awards, which each year recognizes the firms and individuals who are bringing new innovations to market that make a real difference to the daily activities of financial advisors. In order to qualify, finalists had to demonstrate that a new initiative, program or enhancement to an existing platform either helped advisors manage their business more efficiently, enhanced service quality, smoothed business transitions, improved the understanding and use of various asset classes, or enriched the advisor/client experience through technology.
The awards program received 625 entries from 221 companies this year, and 155 organizations were selected as finalists in one or more of the 73 qualifying categories in the 2020 awards program. “The near record-breaking number of nominations and companies that participated this year – at a time when many firms were preoccupied with the economic crisis, a global health pandemic and adjusting to a new virtual work environment – is a strong testament to the value that firms place in the awards as a way to enhance their reputation, increase their brand recognition and set their organization apart from the competition,” said WealthManagement.com managing director William O’Conor.
WealthManagement.com announced that the major in-person activities recognizing this year’s finalists and winners will all be held as virtual events – including the September 10th awards presentations and the Technology Roundtable traditionally held in New York City. “The health and safety of our staff, colleagues and business partners is our top priority,” continued O’Conor. “By going virtual, we’re envisioning an awards event that in many ways will be like the Golden Globes meets the NFL Draft – making this year’s program bigger, better and more exciting than ever.”
Oranj simplifies advisor technology without sacrificing sophistication or increasing costs, helping them spend less time managing and more time advising clients. The single platform streamlines portfolio management and client service, and provides advisors with rebalancing/trading, client/prospect management, portfolio management and a client portal. For more information about Oranj and its free to low-cost wealth management platform, visit www.runoranj.com, connect with them on LinkedIn, or follow @runoranjdotcom on Twitter.