Orion has named a new chief financial officer, as the fast-growing Nebraska wealth tech platform leans into a growth strategy focused more on organic growth rather than acquisitions.
The hiring of Mark Mayo, which Orion announced in a press release Tuesday, is the latest—but likely not the last—move by management to bolster its executive bench, after its longtime CFO Daniel Applegarth jumped to Carson Group, an Omaha RIA, in April.
In the coming months the firm also will be adding a chief operating officer to its executive team. Furthermore, acording to Orion CEO Natalie Wolfsen, Orion is also looking for a successor to the soon-departing president of its advisor technology division, Brian McLaughlin.
Orion, which services $4.4 trillion in assets under administration, said Mayo began serving as CFO of the Omaha firm Monday. He spent eight years in the same role at DISA Global Solutions, an employee screening and compliance services provider in Houston. At DISA, Orion said, Mayo helped to grow revenue and profitability through a combination of strategic acquisitions, organic growth and enhanced operational efficiency.
Mayo was also CFO at Connect America, HireRight and at several divisions of General Electric, where he earned a Six Sigma Master Black Belt, meaning he was regarded as an expert in maximizing an organization’s output while minimizing cost.
"I am thrilled to join such a dynamic and innovative wealthtech leader at a pivotal moment in its growth journey,” said Mayo in a prepared statement. “Orion’s commitment to delivering exceptional value and service to advisors and their clients through a connected, disruptive technology and investment platform is truly inspiring.”
In the release, Orion said Mayo is tasked with strengthening the firm’s financial infrastructure, overseeing financial strategy and advancing management’s strategic roadmap.
“With Mark on board, we will further strengthen our financial strategies, ensuring sustainable growth and enhancing our ability to support financial advisors of all sizes and business models with expanded wealth management services and pioneering, investor-centric technology,” Wolfsen said in a statement.
The CEO said Orion remains in growth mode, increasing technology accounts 15% year-over-year for the past three years. The fintech platform serves more than 6.3 million technology accounts, 300,000 wealth management accounts and 2,400 independent advisory firms. Its AUA has increased 17% increase since 2023.
Over the years, Orion said it has used strategic acquisitions to seamlessly integrate cutting-edge wealth tech components into its ecosystem.