YouSaid · the spoken record

Natalie Wolfsen

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64
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2024-07-25
most recent
2024-07-25
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1
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podcast

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  1. “Expressing values in your portfolios, or it's in how you customize the investor experience you want to create on your white labeled investor portal, drawing attention to behavioral finance and how you emotionally attach to your wealth and your financial plan versus benchmark-based performance is a huge change in the industry and something that Orion's a big part of. We're pushing the limits of behavioral finance. We're pushing the industry in a direction where it's not just about fulfilling your goals as it relates to wealth, but finding true happiness and giving advisors the tools that they need to have those conversations with their clients.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “It's true. It's very, very true. And the other interesting thing that's happened more recently is the transition to more personalization in financial services. I mean, we have personalization in every aspect of our lives right now. You can create your own clothing. You can create your own streaming. You can create your own music. There's personalization in all aspects of our life. And financial services is catching up and platforms like Orion can bring that to the advisor. We can innovate.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “Huge voice of the importance of independent advice. And I am too. So we both believe in independent advice. We both believe in powering RIAs and the enterprises that serve them. And we both believe that the more time we can give the advisor back, the better off the advisor and the investor are. I talk to Eric a couple times a week. He's a great thought partner. He's a great person to bounce ideas off of. He reaches out to me sometimes when he has questions. He's still on our board and he's a really great board member. So the relationship is strong and getting stronger every day as we continue to work together. He's a great advisor and partner.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Yeah, so there's no question that Eric is a legend in the RAA community. The reason that he is a legend is because his technology helped power the growth of the industry. He was a visionary in that he saw how much time advisors were spending on portfolio construction, performance reporting, reconciliation, and how much the RIA's interaction with their client could be improved if that work was taken off the advisor's plate and if the advisor had the benefit of those insights to deliver back to their clients. And he built it in a highly innovative way. You know, Eric was very focused on ensuring that right after he built a solution, he started improving it. As a result, right now, Orion serves about 80% of the top RIAs in the US. And we have $4.3 trillion in assets that we service. He also is a”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “You know, the first thing I'll say about that is it's a big change for the team and the clients anytime a founder decides to move on to their next chapter, it just creates uncertainty. And both the team as well as clients just want to make sure that you're committed to the same purpose, that you're committed to the same level of service that they've come to expect from the predecessor. And the great news about Eric and me is because Eric was a part of the selection process for me, we knew going in that we were highly aligned on what we think about the market, how we want to serve our clients, where we think the future opportunities are in technology. And so while I've absolutely adjusted the strategy slightly to focus more on integrations, the heart of Orion remains the same.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Services that are highly flexible and integrable. And so pivoted just slightly to make sure that we were focusing on the information and the data and the accessibility to it so that we could get to a place where whether clients wanted to use us for microservices or want to use us for holistic technology, we can integrate that.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “In the first 90 days, I absolutely did a listening tour. I talked to as many financial advisor clients as I possibly could. In fact, in my very first day, I talked to our top 20 clients. Reached out to them, wanted to let them know that I was interested in hearing from them. And then for that first 90 days, I made sure that I talked to as many clients as I could. I also went on an internal listening tour, wanted to get to know the team. You know, I'd been at my previous firm for 10 years, and so everyone knew me. I knew everyone in the firm. I knew who top performers were, how we were organized. I had to learn that about Orion, get to know the team, understand how we were organized, understand what they enjoyed about working with Orion, if there were any opportunities. And so after that first 90 days, I started looking at things that we could prioritize a little differently. Eric Clark, the founder of Orion, he was an incredible CEO. At the same time, I personally felt that we need to emphasize, put a little bit more emphasis on building a client service model, making sure that we were developing for scale, putting in place”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “The advisors portal, in contrast, has portfolio construction tools, sophisticated reporting tools, workflow management, dashboards that help the advisor understand the strength of their business and the strength of their relationships with their clients. And again, you can choose to just use Orion for reporting. That's great. Or you can choose to use Orion for more, depending on the size of the advisor and the degree with which they want to control their client's experience.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Yeah, so for the investor client, what comes through the portal is their holdings, their connection between the portfolio and the financial plan, a variety of comparisons that advisors can walk through with the investor about how their portfolio, if the advisor is proposing a new portfolio, how the proposed portfolio compares to the portfolio the investor is in now. We have behavioral finance tools so that the investor can understand their relationship with wealth and their risk tolerance, their needs at a greater level of detail, and they can compare that to that of their spouse. And then also compare that to the portfolio that the advisor is recommending.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “That's right. Tell us a little bit about that. So, in the additive services that Orion offers now are financial planning, compliance, CRM services, risk analysis, portfolio construction, an advisor portal, an investor portal, and clients can choose, or RA clients can choose, to use all of it in an integrated way, or they can choose to use a piece of what Orion offers and integrate that into their client experience.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “You're right that the heritage of Orion is portfolio counting, trading, and reporting. That's kind of at the heart of what Orion, where Orion came from, how it was built. Over the course of the last five years, though, Orion has added to that core capability a depth of services and wealth management, everything from portfolio customization and indexing all the way through fully outsourced portfolios. And so Orion now has a wealth business and a tech business that work together to help financial advisors save time and effort and spend more time with their clients. And then on the technology part of the business around what we've built around portfolio accounting, trading and reporting is the entire advisor interaction with their investor.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “Previous CEO and founder, Eric Clark, when he announced in, I guess it would have been last spring that he was leaving the firm, the executive chairman of the board, Charles Goldman, reached out to me, asked if I would be interested. He and I had a few conversations before I decided that it was something I wanted to do. And I really believe that Orion has the potential to make a huge impact on the industry. Know, met the board, really liked what they had to say about plans for Orion, spent some time with Eric. It was very important to me that Eric was a big part of picking the future CEO. And it's been fantastic since then.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Yeah, so I have been a longtime admirer of Orion just as a trendsetter and an innovator in the industry, both in technology and wealth services, when Eric announced that he was going to be departing.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “You know, I love being a CEO. I don't know about you, but I love it. I love being able to lead the team at AsetMark. I was a public company CEO. I enjoyed working with investors. I enjoyed that aspect of the role. And one thing about being a CEO versus being a chief solutions officer or chief commercialization officer, you spend a lot of your time outside the company, as well as inside the company. So you still spend a lot of time with your clients, which you do at every level of the organization, I believe. You also spend time with investors, with other aspects of the industry, a little bit more time on strategy and innovation. And that's an exciting part of the role representing your firm and its success to investors and to potential partners.”

    2024-07-25 · Masters in Business · Behavioral Finance and Leadership with Natalie Wolfsen from Orion · IDENTIFIED FROM THE TRANSCRIPT · source