NorthStar Financial Services Group, the parent company of Orion Advisor Services, announced that it will change its name and unify its subsidiaries under the Orion brand, according to a news release.
NorthStar, based in Omaha, Neb., will be called Orion Advisor Solutions and will include Orion Advisor Services, FTJ FundChoice, CLS Investments and Constellation Trust Company, the release said.
Once the changes are finalized in September, Orion Advisor Services will be renamed Orion Advisor Tech, and FTJ FundChoice will become Orion Portfolio Solutions. The companies will run independently but will have an integrated team leadership, the release said, noting that Eric Clarke will assume the role of chief executive officer and be supported by Dean Cook as president and Ryan Beach as chief operations officer. Clarke also will head Orion Advisor Tech and Beach will lead Orion Portfolio Solutions.
The changes come as NorthStar sets its sights on continuing its growth. Last year, the company acquired open-architecture TAMP FTJ FundChoice, an Orion client and partner for more than a decade, to expand its presence among RIAs and broker-dealers, the release noted.
“What we are trying to do is simplify the message to the marketplace,’’ said Cook, noting that the new business model will enhance technology for advisors.
CLS Investments and Constellation Trust will retain their names but use the Orion logo mark, the release said.