ORION Portfolio Solutions' mission is to enable fiduciary advisors to operationalize their vision for success. They do so by delivering best-in-class technology empowering advisors to innovate, disrupt, and win.
Setting Up Daily Data Integration from Orion
Follow the steps outlined below to set up your daily bulk data load from Orion to your CRM;
Orion User Setup
The Orion user that is used for persistence data needs to be a user with standard Orion admin rights. This user does not need to be a user-specific to the integration.
1. Representative (Advisor)
4. Financial Account
Orion uses a different data hierarchy to group accounts versus the CRM.
Households (2 above) > Registrations (3 above) > Accounts (4 above) > Assets > Transactions
There may be some confusion between the Household level and the Registration level in Orion. In Orion, there is one head of Household. Let's say Joe and Jane Smith are the Household members. Only Joe's contact information will be stored as he is the head of Household. Within the Household, there can be several Registrations. Joe and Jane may each have their own individual Registrations under the Household, with separate Accounts under those Registrations.
Currently, Data Broker API normalization into the CRM is as follows:
Only active households that have value are read in by Data Broker.
Only active Registrations flagged as a portfolio are read in by Data Broker.
Portfolio values are pulled directly from the files sent in the API. Household values are derived through the aggregation of the assigned account values.
Orion Accounts: Only accounts that are active and permissioned for the bulk data user in Orion are read in by Data Broker.
Custodian Account Number and Portfolio Management System (PMS) Account Number are different data points within the Data Broker and should be considered as such. The Custodian Account number is mapped for account numbers coming through the custodial integration and the PMS account number is the account number received through the integration with the Portfolio Management System. Many times the numbers can and will be the same but each will be treated differently by the Data Broker based on the integration type.
Note: If the integration requires credentials or authentication into the system via Data Broker, there's a chance the refresh token may expire if the integration is not scheduled to run on a recurring basis or is not manually run regularly. In this case, you may need to re-enter credentials in Data Broker to get a new, valid authentication token.
Data Broker reads in accounts that are active and assigned to the bulk data load user. If you wish to exclude certain accounts from the integration, the accounts should be removed from the Orion user's access.
Data Broker will systematically remove inactive accounts. The below explanation is directly from Orion's blog:
Canceled Vs. Inactive Accounts
We often see users confused by the difference between canceling an account and marking it inactive.
When you inactivate an account, all you are doing is unchecking the "Active" box for that account. The inactive account will still feed data and will still have a value. The only time you would choose to inactivate an account is if you want to include it for reporting and performance purposes but don't want to show it in the Client Portal. If you do still want to have the feed come in and be able to track performance and reporting on the account but not have a client see it, there is a setting in the Client Portal that allows you to select "Only Active Accounts."
When you cancel an account, you are zeroing out the account's value and a data feed will no longer combine for that account. The feed will not download to the system or be used for performance and reporting.
Accessing Orion from Within Your CRM
You don't have to leave your CRM to see Orion information. Log into Orion, in context, from the CRM. Don't lose your place in the CRM or stop to find the right website to log in to, just push a button! When the component is added to the page layout, a login prompt will authenticate directly to Black Diamond. The portfolio-level login button will take you to view the portfolio you are viewing in the CRM. The financial account-level login button will take you to the selected account.
Note: Your data stays secure! Credentials are user-specific and separate from the Salentica bulk data user. Security permissions are inherited from Orion; if the user is not permissioned to view the account or portfolio in Orion, they will not be able to access the records through the login button.
Q: When does data update in Salentica?
A: Generally we run Data Broker at 9:30 eastern standard time. If you need to adjust this time, please enter a support ticket and we can walk you through how to make this update.
Q: What data points are available from Orion?
Please keep in mind, all of these data points might not be mapped into your CRM, and that we frequently update the data points that are available.
Q: How do I request new data points?
A: We are constantly working with our partners to create deeper integrations. If there is a data point that you would like to have brought into the CRM, first check with Orion to see if it is currently available. If it is available, reach out to the service team to see if we pull in that data, and how to map it into your CRM.
Q: How does Orion's hierarchy differ from the CRM?
A: Orion uses a nonstandard data hierarchy to group accounts: Households > Registrations > Accounts > Assets
There may be some confusion between the Household level and the Registration level from Orion. In Orion’s, there is one head of Household. So let's say Joe and Jane Smith are the Household. Only Joe’s contact information will be stored as he is the head of Household. Within the Household, there can be several Registrations. So Joe and Jane may each have their own individual Registrations under the Household, with separate Accounts under those Registrations.
Our data hierarchy at Salentica is as follows: Relationship (Households) > Portfolios > Legal Entities (Registrations) > Financial Accounts. Currently, Data Broker maps Orion’s Household to our Relationships, Registrations to our Portfolios and Accounts to Financial Accounts.
Q: How does Data Broker differ from Orion's own Salesforce app (available in the Salesforce App Exchange)?
A: We do not have a comparison guide that notes functionality differences between our Data Broker tool and Orion's Salesforce app. Mutual clients are encouraged to reach out to their Orion counterparts for conducting this due diligence.
However, Orion's Salesforce app is a separate cost. Data Broker integration functionality is included in your current Salentica contract.