Wealthtech: Orion Advisor Technology Live with ChatGPT Integration

Orion Advisor Solutions, the provider of transformative wealthtech solutions designed to power advisors and win for investors, went live with a ChatGPT-3.5 series integration with Redtail Speak, the compliant, real-time communication platform for financial advisors offered through Redtail Technology.

First mentioned in February at Orion’s Ascent conference, the third-party integration will allow users “to select from and, as needed, edit suggested AI-generated responses.”

The integration – an assistive technology designed to save advisors time and facilitate faster, more effective client communication – “draws from and builds upon the previous 20 text messages between the advisor team and client.”

This incorporates the necessary context and prevailing sentiment “to be enmeshed into the dialogue created by ChatGPT, providing automatic prompts and recommended responses to client questions with vital knowledge of the advisor-client relationship. Redtail Speak users can turn the integration on or off at their discretion.”

This ChatGPT integration “underscores Orion’s commitment to serving advisors’ needs and helping them remain ahead of evolving trends.”

Orion’s own research suggests “that advisors are broadly interested in artificial intelligence (AI) and its potential applications, with 33% of respondents to its inaugural Wealthtech Survey citing AI as the most disruptive technology trend facing the financial services industry.”

Brian McLaughlin, President of Orion Advisor Technology, said:

“Redtail Speak’s first-of-its-kind integration with ChatGPT will allow advisors to have an assistive technology at their fingertips while keeping them in control of responding to clients. This marks the beginning of Orion’s journey to integrate AI into our applications, and we’re thrilled to take this important step in helping advisors understand what’s possible by adding AI technology into their practice.”

As a fast follow, work is now “underway to create an auto-complete feature for Redtail Speak using ChatGPT.”

As advisors write messages in Speak, the AI technology will “suggest text to complete the response.” Redtail Speak users will, again, be able “to turn on or off this integration functionality at their discretion.”

Redtail Speak is currently “available to Orion clients via the Orion Advantage Stack. Speak is available as a desktop application and a mobile application that has the capability to send texts to clients.”

Using Speak, every conversation, message, and document “are fully searchable and automatically archived, recorded daily, and sharable with email surveillance providers, offering advisors a safe, compliant way to communicate with clients.”

Redtail Speak’s integration with ChatGPT is “the first of numerous projects currently in development at Orion that will introduce AI into the hands of advisors, empowering them to streamline operations and communications and focus on the most important matter at hand—their clients.”

As noted in the update, Orion claims it is “a 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, their brand entities, Orion Advisor Tech, Orion Portfolio Solutions, Brinker Capital Investments, Redtail Technology, and TownSquare Capital, “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.”

With the addition of Redtail and TownSquare, the combined platform “services $3.7 trillion in assets under administration and $60 billion of wealth management platform assets (as of Dec. 31, 2022).”

Supporting over 5 million technology accounts and thousands of independent advisory firms, Orion is “the platform of choice for all growth-focused advisory firms looking to strengthen their client relationships, gain a competitive edge in a crowded marketplace, and build strong, profitable businesses.”

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