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Products December 23, 2016
Orion Offers Custom Fee Benchmarking Tool
The benchmarking tool will allow advisers to filter based on account size range; account types; services provided; and types of firms.
Reported by Amanda Umpierrez
With the Department of Labor (DOL)’s implementation of the fiduciary rule on its course, Orion Advisor Services has launched what it says is the industry’s first fee analyzer.
The benchmarking tool creates custom fee-benchmarks for accounts, allowing advisers to filter based on account size range; account types—such as qualified, non-qualified, individual retirement account (IRA) and non-IRA—services provided; and types of firms. In light of the new rule, the tool will help in demonstrating advisers’ fee reasonableness, according to Orion.
In addition to the tool, Orion has written a whitepaper dedicated to assisting advisers prepare for the DOL ruling. The report discusses changes in the industry due to the ruling, including regulation, new technology and adviser fee pressure.
“With the DOL ruling coming into effect in April, Orion is doing everything to help prepare its clients for the change in regulation,” said Eric Clarke, CEO of Orion. “The new fee-benchmarking tool will help advisers see how their fees compare to the industry, ensuring they are charging fair, reasonable fees.”