Orion announced today that it has acquired HiddenLevers, a risk analytics, investment process and oversight platform.
HiddenLevers' portfolio testing, investment proposals and workflows will be integrated into Omaha, Neb.-based Orion in three ways. First, it will become part of Orion’s core technology platform, allowing advisors to increase their ability to generate proposals tailored to client needs.
The technology will also be integrated into Communities, Orion’s model marketplace, which will permit advisors to see the risk profile consequences of blending different strategies and models.
Finally, HiddenLevers will be embedded into Orion’s business intelligence and compliance solutions, giving advisory firms the ability to stress test every account in their book of business. That will offer more insight into revenue, risk, IPS drift and advisor performance, as well as M&A deal analytics.
While financial details of the transaction were not made public, it is a significant acquisiton for Orion, which just last year engaged in another mega-deal, its merger with TAMP Brinker Capital. HiddenLevers reportedly crossed the $500 billion asset mark on its platform nearly two years ago, in 2019.
At their core, Orion said, the new integrations will enable it to deploy more robust technology around its turnkey asset management platform.
“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 customer," said Eric Clarke, founder and CEO of Orion, in a press release.
Since Orion and HiddenLevers already have application programming interfaces and integrations in place, the firms believe the combined platform experience will come to market quickly.
“Orion brings scale to our pace-setting functionality, and their approach to a tech-enabled advisor-client relationship matches our vision,” said Praveen Ghanta, HiddenLevers' co-founder and CEO.
Ghanta and Raj Udeshi, HiddenLevers’ other co-founder, started the company in 2009. They will join Orion’s team along with their employees, according to the press release announcing the deal.
“We are combining Orion’s TAMP infrastructure with our BI dashboards, portfolio insights, UMA client experience, and nimble development team," said Udeshi, HiddenLevers' chief revenue officer. "Working together, we can deliver on this vision quickly.”
Additional terms of the transaction were not released.