Orion introduced that CEO Eric Clarke will retire by the tip of 2023 on Monday.
Clarke knowledgeable Orion’s board of administrators of his resolution, in keeping with the corporate.
“Eric has been instrumental in advancing the RIA trade, powering advisors’ success and shaping and bringing to life Orion’s imaginative and prescient to attach the advisor-client journey,” in keeping with an organization assertion.
The corporate confirmed Charles Goldman, government chairman of the board, will probably be main the seek for a brand new CEO, together with the board’s search committee.
“The board will determine a successor who embodies Orion’s values, shares our imaginative and prescient, and possesses the management qualities mandatory to guide this nice firm,” in keeping with the assertion. “The choice course of will probably be thorough and considerate, making certain that we discover the best particular person to guide Orion into the following chapter of our journey.”
Clarke will proceed as Orion’s CEO till the successor is in place and “will probably be there each step of the best way to assist guarantee a clean transition for shoppers and workforce members,” in keeping with the corporate. After that course of is full, Clarke will assume a supporting management function till the tip of 2023 and proceed past year-end offering strategic path and counsel as a member of Orion’s board.
“All of us at Orion wish to categorical our deepest gratitude to Eric for his distinctive management, dedication and unwavering dedication to the corporate’s success,” acknowledged the corporate. “Beneath his steerage, Orion has achieved exceptional milestones and constructed a tradition of excellence and collaboration that can proceed to propel us within the years to return.”
Over the past 15 years Clarke has grown Orion from its function as a portfolio accounting and reporting system and into an RIA know-how juggernaut providing corporations many alternative classes of instruments from monetary planning to danger measurement and analytics and is a robust competitor to Envestnet. His time consists of oversight of many acquisitions and their integration into the bigger Orion ecosystem from planning agency Advizr to danger know-how vendor HiddenLevers, to common CRM supplier Redtail.
Orion at present has $3.6 trillion in property beneath advisement or administration on its platform throughout 2,400 RIA or wealth administration corporations—its Redtail acquisition has added one other 100,000 advisors and over 19,000 corporations as shoppers.
Clarke has additionally served on many boards and in management roles throughout the trade, together with on the committee that sought to create advisor trade knowledge requirements known as Your Silver Bullet. He additionally oversaw a significant restructuring of the agency in 2019 after its merger with TAMP FTJ FundChoice.