What is the story about?
What's Happening?
Orion Advisor Solutions plans to open an innovation lab in San Francisco following workforce restructuring. The lab aims to foster transformative ideas and connect with clients, aligning with Orion's strategy to transition from a closed suite of services to more flexible offerings. CEO Natalie Wolfsen emphasizes the importance of community and client connection in driving innovation, while acknowledging past layoffs as part of the strategic shift.
Why It's Important?
The establishment of the innovation lab signifies Orion's commitment to advancing technology and innovation in the wealth management sector. By focusing on open systems and flexible service models, Orion aims to remain competitive and attract a diverse range of advisors. This strategic shift may influence industry trends, encouraging other firms to adopt similar approaches to enhance client engagement and service delivery.
What's Next?
Orion's innovation lab will focus on areas such as artificial intelligence, supporting the company's broader goals across its locations. The lab's success could lead to further expansion and collaboration opportunities, potentially impacting the wealth management industry's approach to technology and client services.
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