TownSquare Capital (TownSquare), a boutique, full-service investment and trading platform with an institutional attitude on portfolio construction, was acquired by Orion Advisor Solutions, a leading developer of transformative wealth tech solutions for fiduciary advisors, today. Details of the transaction won't be made public.
"Today, we officially add TownSquare to our wealth management business, creating more value for advisors seeking a highly integrated, most-in-one technology suite. The combined wealth management platform will come to market quickly, providing financial advisors a single-source solution to prospect, plan, invest and achieve,"
-Eric Clarke, founder and CEO of Orion.
TownSquare helps give growth-focused independent advisors access to a greater selection of investment products, solutions, and trading skills by adding an additional $6 billion in TAMP assets to Orion's wealth management platform offering.
"Combining TownSquare with Orion's wealth management and advisor technology capabilities brings tremendous value to financial advisors and their clients. With the full weight of Orion's resources and relationships behind us, we can continue providing best-in-class investment strategies to the advisors and clients we serve,"
-Kurt Brown, Chief of OCIO Services at Orion.
TownSquare will continue to run as a stand-alone company for the foreseeable future, serving both a brand entity and a wholly-owned indirect subsidiary of Orion Advisor Solutions. As a result, existing TownSquare and Orion customers shouldn't anticipate any changes to their present services, and they will be among the first to take advantage of the merged company's expanded capabilities.