At Future Proof, Orion CEO Unveils Timely Advisor Insights on Election, AI, and Technology Preferences
Advisor Insights from Orion’s Quarterly Pulse Survey
Artificial Intelligence: Advisors’ use and expectations around AI are diverse. One-third (33%) of Orion advisors are currently using AI, and almost half (46%) say they will be leveraging AI as part of the strategic direction of their firm in the next three years. Four in ten (42%) are also testing how AI can assist them in their practice. Over one-third (36%) are fearful about applying AI to their business while 28% consider themselves very knowledgeable about how to apply AI to their business.
Technology preferences: More than half (55%) of Orion advisors prefer a mix of both bundled (all-in-one, integrated platforms from a single provider) and unbundled (individual technology components from multiple providers) advisor technology solutions. Over a quarter (27%) prefer bundled solutions with 10% preferring unbundled. For those who prefer bundled, the primary benefit they see is that the integrated technology creates a streamlined experience. Advisors who prefer unbundled solutions cite the freedom to choose individual, best-of-breed tools to build a personalized tech stack.
2024 election: Related to the upcoming presidential election, the top questions advisors are fielding from clients are: how the election outcome will impact the stock market (43%) and if they should adjust their portfolio in anticipation of the election (26%).
High-net-worth investors: Eighty-four percent of Orion advisors surveyed say high-net-worth clients are essential to their firm’s future business growth and 80% are actively pursuing strategies to upscale their client base. At the same time, 82% say that competition among advisors for these investors with $1 million-plus in investable assets is intensifying. Eight in 10 have “basic” HNW offerings while 66% have “advanced” offerings such as direct indexing, foreign currency management, behavioral finance, and alternative investments.
“We have a profound understanding of the unique challenges today’s advisors face, including the complexities of integrating disparate tech stacks and the increasing demand for personalized client experiences and investment management,” Wolfsen said. “We actively engage with our advisors, listening to their feedback to ensure our platform meets their evolving needs. Our customizable, integrated solutions are designed to support their unique business goals. The fact that Orion advisors are outpacing broader industry growth is a testament to the power of our flexible ecosystem and our commitment to their success.”
