Orion Advisor Solutions has acquired HiddenLevers, which specialises in risk analysis, investment process, and executive oversight in the wealth and asset management space.
Financial terms of the deal were not revealed.
HiddenLevers, which was founded in 2009, manages nearly $600bn in platform assets. It is headquartered in Atlanta and its entire workforce is based in the US.
The deal will add HiddenLevers’ portfolio stress-testing to Orion’s platform.
Orion will also get access to the acquired company’s investment proposals and workflows on model construction and improvement.
Commenting on the deal, Orion founder and CEO Eric Clarke said that the acquisition of HiddenLevers adds significant value for investment committees looking to improve allocation models, and also for advisors looking to mitigate panic selling.
Clarke added: “HiddenLevers goes beyond a single-number risk analysis approach and instead, builds applications that consider a broad palette of potential economic events – essential for protecting the fiduciary sensibility of Orion customers.”
Orion said it will add HiddenLevers to its solutions to its core technology platform and embed its capabilities within its business intelligence and compliance solutions.
HiddenLevers founder and CEO Praveen Ghanta said: “Orion brings scale to our pace-setting functionality, and their approach to a tech-enabled advisor-client relationship matches our vision.
“Orion has always supported our tech innovations and thought leadership, so the combined vision will be unstoppable.”
HiddenLevers founder and CRO Raj Udeshi added: “Orion and HiddenLevers have the potential to deliver the industry’s leading tech-powered TAM.
“We are combining Orion’s TAMP infrastructure with our BI dashboards, portfolio insights, UMA client experience, and nimble development team. Working together, we can deliver on this vision quickly.”
Last year, Orion combined operations with turnkey asset management platform Brinker Capital.
In 2019, Orion bought Advizr, a financial planning software provider headquartered in New York.