Orion, a provider of wealth management technology to registered investment advisers (RIAs), has acquired the financial planning software Summit Wealth Systems in a transaction that’s expected to close in early 2025.
Summit will operate as a brand within Orion, which serves $4.7 trillion in assets under administration and $72.5 billion of wealth management platform assets. Summit CEO and co-founder Reed Colley has been named president of Orion Advisor Technology, while Summit’s 12 employees will also join Orion.
“With Reed and Summit on board, Orion will accelerate our growth and innovation, supporting financial advisers of all sizes and business models with pioneering, investor-centric technology,” said Orion CEO Natalie Wolfsen. “Together, we have a profound understanding of the unique challenges today’s advisers face, including the complexities of integrating disparate tech stacks and how to deliver personalized client experiences at scale.”
Colley launched Summit in 2019 after founding several other companies, including Black Diamond Performance Reporting and the calendar analytics platform Copilot. Orion made several leadership hires in 2024, adding Ron Pruitt as its president of wealth management, Mark Mayo as CFO and Chris Shutler as head of strategy.