June 2020 Software Update: Full Release Notes

As we approach the Summer Solstice, we thought we’d take the longest day of the calendar year to bring you some long-lasting product enhancements you’re sure to use daily.

We have financial planning updates, like a new “Preview Client Portal” link, new content on the Orion Market*r platform, and plenty of upgrades to Eclipse that are sure to make you more efficient than ever.

If you’d like more information about these enhancements, please join us for our Product Release Webinar on Thursday, June 25 at 2 p.m. CT. Our product experts will be presenting the updates and available on the line to answer any questions you may have.

Advisor Experience

Cipher Updates

Orion is committed to the safety and security of all data that flows in and out of the platform. API connections are required to be on TLS 1.2, and with this release, ciphers are being updated. Partners are asked to update connections or code implementing older ciphers immediately. Ciphers can be implemented or buried directly in the code, so platforms connecting with TLS 1.2 may still be affected if they were using the older ciphers.

New Content Added to the Orion Market*r Platform

Each month, new content on engaging, up-to-the-minute topics is added to the Market*r platform. This month, two new topics were added: Emergency Fund Planning and Recruiting. Collateral for both topics includes whitepapers, email campaigns, social posts, and more.

How to get there: Orion Connect > Orion Market*r

Billing & Composites

Fee Schedule is Zero

A new view called “Fee Schedule is Zero” in the Bill Audit app under the accounts section allows users to view accounts assigned to a zero percent fee schedule for more effective auditing.

How to get there: Orion Connect > Billing Audit > Under Account Audits

Payout Entity Options When Adding Adjustments

When adding an adjustment at the account or household level, users can now limit the responsible entity to one in the payout schedule on the account, or an entity assigned through the Fee Hierarchy and the 'Prorate by Payouts' option.

How to get there: Orion Connect > Billing Audit > Edit Household or Account > Billing > Gen Acct Adjustments, or Recurring Adjustments

Generate New Audit File With New Query

Users in the Bill Generator app can now generate new Fee Hierarchy Audit Files when Billing Audit files are created, provided the 'Use Fee Hierarchy' option is used.

How to get there: Orion Connect > Bill Generator > Actions > Live/Forecast Bills > Generate > Create Audits

Client Experience

Financial Planning

Ability to Hide Transactions Tab

Advisors can now hide the Transactions Tab from the client portal for more control over what clients see.

How to get there: Orion Connect > Advizr > Client’s Name near the top left > Configure Access

Comprehensive Workflow Now Includes the Risk Tolerance Questionnaire

A seven-question risk tolerance workflow can now be accessed as part of the Comprehensive Workflow, in addition to being a standalone workflow or part of the Risk Tolerance page.

How to get there: Orion Connect > Advizr > Add Goal > Comprehensive Workflow

New Preview Client Portal Link

A Client Portal Preview link has been added, allowing advisors to see and navigate exactly what their client will see before granting access.

How to get there: Orion Connect > Advizr > Client’s Name near the top left > Configure Access

Contribution Enhancements

Users can now toggle between monthly and annual contributions, choose to contribute a dollar amount or percentage of income for retirement accounts, and indicate if the client will maximize retirement account contributions based on the account type’s contribution limit.

How to get there: Orion Connect > Advizr > Profile > Accounts

New Notes Section for Documents in the Estate Planning Checklist

Clients can now add notes and important details about their estate planning documents, such as contact information for attorneys or personal representatives, in addition to uploading documents and indicating when they were last updated.

How to get there: Orion Connect > Advizr > Goal Results > Estate Planning

Display Additional Documents from Orion in the Document Vault

Additional documents added into Notes & Documents are now brought into the Document Vault and grouped by the category name created by the user.

How to get there: Orion Connect > Advizr > Document Vault

Add Document Vault Uploads to User Activity Report

When a client uploads a document, a notification is produced within the Notifications Bell, and the activity is tracked in the User Activity section.

How to get there: Orion Connect > Advizr > Client’s Name near the top left > User Activity

Model Portfolio Group Enhancements

Firm Level Users can now see the name and email address of the user who created a portfolio group. The name of the Advisor who imported Riskalyze portfolios as part of the portfolio group name can now be edited.

How to get there: Orion Connect > Advizr > Settings > Model Portfolios

Client Portal Logo Enhancements

Logo size requirements have been made less restrictive, and the space for the logo has been increased for more prominent display in the client portal.

How to get there: Orion Connect > Advizr > Document Vault

New Email Notifications When a Client Uploads a Document to the Document Vault

Advisors will now receive an email notification, in addition to a notification within the Advisor Portal, when a client uploads a document to the Document Vault. Additional email addresses can be added in Firm Settings.

How to get there: Orion Connect > Advizr > Settings > Firm Settings

Compliance

SLOA Custom Imports

SLOAs can now be made active en masse through a Custom Import, rather than individually. Fields on the Import include: SLOA Active, Notes, Account Number, Custody 9a (First Party), and Custody 9b (Third Party).

How to get there: Orion Connect > Portfolio Audit > Accounts > Actions > SLOA Import

Deleted Users

When a user is deleted in Orion Connect, the system will now move them to Inactive in Inform, bypassing Trade Rules and maintaining the user’s disclosed information for audit purposes.

How to get there: Orion Connect > Inform

Integrations

Apex Clearing Account Opening and Funding in Orion Planning Portal

Integration with Apex Clearing allows for seamless opening and funding of custodial accounts directly in the Orion Planning Client Portal. Clients can open and fund accounts with a few clicks, which are sent to the New Account Center for advisement. Beta testing begins this month, with wider rollout to follow.

How to get there: Orion Connect > Advizr

Trading

Relative Out-of-Tolerance % Columns

In the tactical tool, new columns "Current-Trade Need % Relative" and "Post-Trade Need % Relative" allow users to see what is furthest out of tolerance relative to its target.

How to get there: Orion Connect > Eclipse > Portfolios > Tactical Trade Tool

Ability to Highlight Multiple Rows in Tactical Holding and Trade Details

Users can now highlight multiple rows in the holding and trade details section of the tactical tool, enabling actions like delete, sell all, and swap holdings en masse.

How to get there: Orion Connect > Eclipse > Portfolios > Tactical Trade Tool

Security Type Column on Eclipse Grid

A "security type" column has been added to the holding and trade details section of the Eclipse tactical tool, making it easier to identify security types.

How to get there: Orion Connect > Eclipse > Portfolios > Tactical Trade Tool

Views in Eclipse

Users can now save a new view based on all filters currently applied in Eclipse, making it easier to create and reuse views.

How to get there: Orion Connect > Eclipse

Ignore Restrictions on Quick Trades in Eclipse

A new user right, “Override Restrictions in Tactical and Quick Trades,” allows specific users to override firm preferences (with warnings) for tactical and quick trades.

How to get there: Orion Connect > Eclipse > Administrator > Roles

Remove Disabled Trades from the Tactical Rebalancer in Eclipse

Disabled trades can now be hidden in the tactical rebalancer, reducing clutter and improving clarity on the orders grid.

How to get there: Orion Connect > Eclipse > Models

Use Registration Name Instead of Registration Last, First

Eclipse now uses the registration name rather than last name, first name to set the "account name" on import, making it easier to search for names.

How to get there: Orion Connect > Eclipse > Start new import

Team Permissions Added to Models and Security Sets

Teams can now be associated with a model or security set when editing or creating them in Eclipse. A user’s primary team is automatically added as the first team.

How to get there: Orion Connect > Eclipse > Models ; Orion Connect > Eclipse > Securities > Securities Set Maintenance

Downloading Multiple Trade Analysis Reports

Users can now download multiple trade analysis reports at once in Eclipse, making it easier to review trades across portfolios.

How to get there: Orion Connect > Eclipse > Trades > Orders

Out-of-Tolerance Review Level Added to the Tactical Tool and Portfolios

The out-of-tolerance grid and tactical tool now look at the review level rather than the rebalance level. Tabs are highlighted green or red to indicate if a portfolio level is in or out of tolerance.

How to get there: Orion Connect > Eclipse > Portfolios > Tactical Trade Tool

Coming Soon

Orion Connect Home Page Redesign

The Orion Connect Home Page is being reimagined to surface the details that matter most to users, with user beta testing underway and wide rollout coming soon.

The One Portal Project

Orion’s One Portal Project aims to merge two client portals into a single platform, combining portfolio management and planning data side-by-side for a comprehensive client experience.