On January 2, 2025, Orion, a leading provider of transformative wealthtech solutions for financial advisors and the enterprise firms that support them, announced the completion of its acquisition of Summit Wealth Systems, an award-winning advisor technology provider. As part of the transaction, Summit’s co-founder and CEO, Reed Colley, has joined Orion as the President of Orion Advisor Technology, reporting to Orion CEO Natalie Wolfsen. The definitive agreement was first revealed on December 19, 2024, and further details of the transaction will remain undisclosed.
Natalie Wolfsen, CEO of Orion, expressed excitement about the acquisition, stating that the integration of Reed Colley and the Summit team will enable the company to streamline workflows for advisors and foster stronger relationships with investors. She highlighted that Reed’s proven leadership, combined with Summit’s powerful software, would enhance Orion’s flexible tech ecosystem and deliver pioneering solutions to meet the evolving needs of clients while driving growth.
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Reed Colley, who co-founded Summit Wealth Systems in 2019 to advance technology for modern wealth management advisors, previously founded Black Diamond Performance Reporting in 2003. Black Diamond was acquired by Advent Software in 2011 to provide wealth managers and investment advisors with a fully outsourced, internet-based performance reporting solution.
Reed shared his enthusiasm for the integration, noting that the combination of Summit and Orion’s connected end-to-end wealthtech platform will significantly benefit financial advisors and their clients. He anticipates that their combined capabilities will be unmatched in the fintech sector and expressed excitement about his new role as President of Orion Advisor Technology.
Summit’s 12 employees officially joined Orion, with Summit continuing to maintain its existing business relationships and prioritize the enhancement of its services. Clients can expect no disruption in service and will be among the first to benefit from the expanded capabilities. Summit is now part of Orion and will continue to offer its software as a standalone product while also making it available as part of Orion Stacks in the near future.