Orion acquires TownSquare Capital

Orion Advisor Solutions, an Omaha, Nebraska-based provider of technology solutions for fiduciary advisors, has acquired Provo’s TownSquare Capital, a boutique, full-service investment and trading company. Transaction details will not be disclosed.{mprestriction ids="1,3"}

“Today, we officially add TownSquare to our wealth management business, creating more value for advisors seeking a highly integrated, most-in-one technology suite,” said Eric Clarke, founder and CEO of Orion. “The combined wealth management platform will come to market quickly, providing financial advisors a single-source solution to prospect, plan, invest and achieve.”

TownSquare brings an additional $6 billion in turnkey asset management program assets to Orion’s wealth management platform offering and helps provide growth-focused independent advisors access to a wider range of investment products, solutions, and trading capabilities, Clarke said.

“Combining TownSquare with Orion’s wealth management and advisor technology capabilities brings tremendous value to financial advisors and their clients,” said Kurt Brown, outsourced chief investment officer at Orion. “With the full weight of Orion’s resources and relationships behind us, we can continue providing best-in-class investment strategies to the advisors and clients we serve.”

Clarke said that for the foreseeable future, TownSquare will continue to operate as a standalone business, functioning as a brand entity and wholly owned, indirect subsidiary of Orion. He said existing Orion and TownSquare clients should expect no disruption to their current service.{/mprestriction}