Orion Acquires Industry-Leading Compliance Management Software Platform, BasisCode Compliance LLC

October 22, 2021 11:45 AM EDT

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BasisCode provides comprehensive compliance functions, trading surveillance and insider trading solutions furthering Orion’s mission to connect every stage of the advisor-client journey in a cohesive, tech-driven experience

OMAHA, Neb. & ATLANTA--(BUSINESS WIRE)-- End-to-end wealthtech powerhouse Orion Advisor Solutions is strengthening its compliance technology offering for clients by acquiring BasisCode Compliance, LLC, a leading provider of regulatory compliance and risk management technology. Driven by a focus on improving investor outcomes in the advisor-client relationship, Orion signed and closed the BasisCode transaction today.

Founded in 2011, BasisCode provides trusted compliance management in a secure cloud environment with capabilities ranging from compliance testing and risk assessment to trading surveillance, insider trading, staff certifications and audit-ready reporting. Orion will add BasisCode to its best-in-class fintech integrations, cementing its status as the premier provider of the tech-enabled fiduciary framework that boosts financial advisors’ capacity to Prospect, Plan, Invest, and Achieve within a single, connected digital experience. The combined platform experience is expected to come to market quickly.

“The adoption of regulatory technology like BasisCode has skyrocketed in recent years due to increasing regulatory complexity, cost pressure and the need for more data collection and analysis in financial services. By integrating BasisCode’s extensive compliance capabilities within Orion’s technology stack, we can help clients embody a culture of compliance and make the work they do in their most critical systems more connected and robust,” said Kylee Beach, General Counsel, Orion Advisor Solutions. “This acquisition strengthens Orion’s compliance technology offerings for clients, appealing both to Orion’s core client base of independent financial advisors as well as Enterprise firms such as independent broker-dealers, banks and custodians serving hybrid RIAs.”

Best known for its cloud-based management software, BasisCode provides core compliance functions and personal trading and insider trading solutions to more than 400 firms globally including registered investment advisors, broker-dealers, compliance consulting firms, hedge funds and private fund managers, insurance companies, and banks. Additionally, in recent years, BasisCode has focused on partnerships with compliance industry consulting firms. Currently, more than 22 of the industry's leading consulting firms, servicing hundreds of clients, have specified BasisCode as their preferred compliance technology provider. Under the Orion umbrella, BasisCode anticipates increased interactions between consultants and independent advisors seeking professional support.

“Joining Orion brings unmatched scale to our best-in-class compliance offerings,” said Carlos Guillen, Founder, President and CEO of BasisCode. “BasisCode has long been established as one of the industry’s strongest integrated compliance platforms and now we’re thrilled to introduce the broader Orion client base to our simplified, centralized programs and provide them with a more holistic compliance solution.”

Carlos is taking on the role of Senior Vice President of Tech Products at Orion, focusing on Compliance products. In addition to Carlos Guillen, BasisCode’s Chief Technology Officer Rick Atkinson will become Orion’s Vice President of Application Development and BasisCode employees will now call Orion home. Additional transaction details will not be disclosed.

About Orion Advisor Solutions
Orion Advisor Solutions is the premier provider of the tech-enabled fiduciary process that transforms the advisor-client relationship by enabling financial advisors to Prospect, Plan, Invest, and Achieve within a single, connected, technology-driven experience. Combined, our brand entities, Orion Advisor Tech, Orion Portfolio Solutions, Brinker Capital Investments, and HiddenLevers, create a complete offering that empowers firms to attract new clients seamlessly; connect goals more meaningfully to investment strategies and outcomes, and ultimately track progress toward each investor’s unique definition of financial success. As a result, Orion supports more than 2,200 advisory firms with $1.7 trillion in assets under administration and an additional $60 billion of combined assets (Orion Portfolio Solutions and Brinker Capital) across the wealth management platform (as of September 30, 2021), making Orion the platform of choice for growth-focused advisory firms looking to strengthen their client relationships, gain a competitive edge in a crowded marketplace, and build strong, profitable businesses. Learn more at www.orion.com.

About BasisCode
Founded in 2011, BasisCode Compliance LLC is the first compliance software company to reverse engineer a complete governance, risk and compliance (GRC) solution, including Code of Ethics administration. The scalable, fully integrated and always audit-ready software platform manages the risk lifecycle from identification to resolution. It enhances compliance controls and decision-making to safeguard each firm and its clients. Over 400 organizations globally rely on BasisCode.


Michele Steinmetz
Public Relations Manager, Orion

Mark Grandstaff
Gregory FCA for Orion

Source: Orion Advisor Solutions

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