Orion to Acquire Tech Provider Summit Wealth Systems

Orion, a wealth management technology provider for financial advisors, is acquiring Summit Wealth Systems. Summit co-founder and CEO, Reed Colley, will join Orion as president of Orion Advisor Technology, reporting to Orion CEO Natalie Wolfsen and replacing Brian McLaughlin, who stepped down in August, upon closing of the deal in early 2025.

Prior to launching Summit, Colley founded and served as CEO of Black Diamond Performance Reporting, which he founded in 2003. He also founded calendar analytics platform Copilot, Do Something Great Today and FlightPath Inc. Colley, along with Summit’s 12 employees, will join Orion upon the close of the transaction, and Summit will become a brand entity of Orion.

“With Reed and Summit on board, Orion will accelerate our growth and innovation, supporting financial advisors of all sizes and business models with pioneering, investor-centric technology,” said Natalie Wolfsen, CEO of Orion.

Summit provides client reporting and portfolio management to large registered investment advisors. Orion services $4.7 trillion in assets under administration and $72.5 billion of wealth management platform assets, as of September 30, and supports over six million technology accounts and thousands of independent advisory firms.