US-based wealth technology solutions provider Orion has agreed to acquire financial planning and wealth management solutions provider Summit Wealth Systems.
Established in 2019, Summit has an advanced wealth tech platform that helps advisors guide their clients toward a life of abundance while growing their businesses.
The platform combines unified data with an elegant experience for advisors and clients.
The transaction is expected to close in early 2025, subject to customary closing conditions.
As part of the acquisition, Summit’s CEO Reed Colley, will be moved to Orion, as Orion Advisor Technology president, reporting to Orion CEO Natalie Wolfsen.
Together with Reed, Summit’s 12 employees will join Orion upon the completion of the transaction, and Summit will become a brand entity of Orion.
Orion CEO Natalie Wolfsen said: “Reed is a visionary, innovative, highly experienced leader with a deep commitment to helping wealth businesses, financial advisors and investors thrive in today’s dynamic environment.
“With Reed and Summit on board, Orion will accelerate our growth and innovation, supporting financial advisors of all sizes and business models with pioneering, investor-centric technology.
“Together, we have a profound understanding of the unique challenges today’s advisors face, including the complexities of integrating disparate tech stacks and how to deliver personalised client experiences at scale.”
Summit provides modern, consolidated, and intuitive client reporting and portfolio management to large, registered investment advisors (RIAs).
The company’s client-centric portfolio management software is designed to strengthen relationships between advisors and their clients.
Also, the portfolio creates a unified, highly personalised experience that easily aligns clients, advisors, and enterprises.
Reed added: “I couldn’t be more excited to join forces with Orion in 2025. I have long admired Orion’s kinship with advisors and spirit of innovation.
“The firm is unmatched in offering advisors the best solutions that support their independence, streamline their workflow and help them build meaningful relationships with investors—all in a flexible, unified, seamless wealthtech experience.”
Early this year, Summitas integrated its technology with Orion in a move aimed at powering more innovation in digital engagement for advisors.
