The Advantage of Real Time Data Sharing


Recorded at the T3 Advisor Conference 2022.  Presented by:

Advisorpedia interviewed Adam Palmer, Director of Product at Orion Advisor Solutions at the T3 Advisor Conference in May, 2022.

Related: What’s Driving Innovation in the FinTech Space


Basically what Orion is positioning themselves in working on today is real time data sharing. And what that allows Orion to do is help advisors get access and have transparency to their data in real time leveraging this data sharing technology. . .

Currently, we're partnered with AWS redshift on this technology, where once the right once the reconciled data comes into the Orion system, we're able to share it in real time for business intelligence, just in time reporting and analytics for advisors. Advisors even have the opportunity to overlaying their own application on top of this managed storage or this data warehouse, if you will, that we're sharing to them in real time.

What this means for advisors is far less overhead, increased data accessibility, increased data transparency. So really think about all of the workflows that advisors act on day to day from a portfolio management system into their own applications or their own storage on their particular infrastructure.

This eliminates the the latency with API's of extremely large data sets, which API's aren't designed for This eliminates your SFTP file drops, that only happened at 8am in the morning, before trading starts, and then immediately that data is stale. So while the operations team is going into Orion, making updates to transactions, new accounts, everything, all of those updates are streamed to the advisor in real time, so that all they all have their compliance, their regulatory reporting, their business intelligence is all updated in real time with no latency, the improved speed and the improved access to data really just drives and improves the end client experience, right? Because clients are calling in with real world questions.

They need real time answers to those questions. So creating access to real time data, ultimately will make the advisor shine and then ultimately make the RIA shine that we partner with directly