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Why?
What?
How?

Why? 

• Deliver comprehensive net worth reports to your clients by including their OPS accounts in your OAT database.

• Report your way when you sync OPS accounts into your OAT database.

 

 

What?

Do you love the service and convenience of your OPS-managed accounts, and also want to report on those accounts in another OAT database? You can have the best of both worlds with the OPS to OAT database sync! With this sync in place, you'll see and be able to report on your OPS accounts in a different OAT database, while still enjoying the full suite of services provided by OPS.

How?
Orion Portfolio Solutions Data Sync Instructions:

Follow the steps below to begin setting up your Orion Portfolio Solutions sync.

 

Submit a Support Case with Orion

• Log in to Orion Connect and open the Support app.
  • Click the  button within the Support app.
  • Select the Service Request tab.

Service Request Details

• Support Service Team: Reconciliation (If you are working directly with the Onboarding team, select Onboarding as the Support Service Team instead)
• Advisor #: Populate with your firm's Orion advisor number
• Subject: New Orion Portfolio Solutions sync - [insert firm name]
• Description:
  • See the rep information below to initiate a sync request from Orion Portfolio Solutions.
    • List the rep(s) whose data you expect (include both the rep name and Orion Portfolio Solutions rep ID)
    • Three Sample Accounts for each rep: [enter three account numbers expected in the feed]
• Click Submit

 

 

 

Orion Sends ROI

Once rep information is confirmed, Orion sends an ROI (Release of Information) to Orion Portfolio Solutions. Orion or OPS will contact you if additional details or steps are necessary.

Historical Copy (if approved)

If the sync is approved and history is included (per the ROI), Orion completes a data copy for the approved rep ID(s). Which may include rep profiles (name only), Households, Registrations, Accounts, Assets, Transactions, and Cost Basis. Data is copied as it exists, and you are responsible for householding the registrations created from the copy into existing households in your database after the copy is complete.

Please Note: A historical copy may take an additional 10-15 business days and requires an additional Release of Information from OPS. To request a historical copy in addition to setting up the database sync, please notify us of that in your Service Request when requesting the sync.

 

Sync Notes

• Requests not completed within 60 days are subject to cancellation. 
• Sleeved accounts in Orion Portfolio Solutions are synched as sleeves into your receiving database. Accounts MUST remain as sleeves in the receiving db to maintain the sync.
• All maintenance on the accounts MUST be managed in OPS to ensure a consistent sync
  • Note: Householding, Model Assignment (if shared) & Model Settings (if shared) must be maintained in BOTH environments
• Any accounts approved through the sync that are already downloaded into your receiving database through other feeds must be canceled before the sync setup.
• The OPS sync can be established as a Broker-Dealer feed versus single Rep IDs. This allows all new reps added to the sync to be exported without requesting the new rep ID(s). Please Note: This exports all accounts under the specified Broker-Dealer from OPS into the advisor's database. 
• There is no additional cost to establish an OPS sync, and all accounts that flow through are exempt from your Orion Invoice for the receiving database. 
• Rep Mapping is available.
• Approximate time to complete (start to finish):
  • Sync Only: 7-10 business days once all applicable information is provided

  • History: An additional 10-15 business days, after the sync setup

 

 

OPS Sync FAQs

Q: What if I already have some of the accounts downloading into Orion through another source?

A: The accounts already downloading would need to be canceled in the receiving database prior to setting up the OPS Sync feed. Review How to Cancel an Account and Undo a Cancellation for more information on canceling accounts in Orion.

 

Q: What if Fee Calculations are run in the OAT database?

A: Accounts included in the OPS Sync must be assigned a no fee or a 0% fee schedule in the receiving OAT database since OPS calculates all fees on the accounts in the OPS database.

 

Q: Can I include these accounts in Quarterly Statements?

A: Yes! You can include them in Quarterly Statements. If you would like for OPS to no longer run statements on these accounts, please reach out to the OPS Service team.

 

Q: Can my models in OPS that are assigned to these accounts be included in the sync?

A: Yes. You will need approval from OPS for these models.

• Before the sync, the models must be recreated in the OAT database.
• Any updates to model or model assignments MUST be done in the OPS database AND updated in the OAT database to reflect that change.

 

Q: Will accounts be automatically householded into my existing households when the sync feed is established?

A: Household structure will reflect the household setup in the OPS database. You are responsible for moving or adjusting the household structure to fit your reporting needs in the receiving database after the copy is completed and any time new accounts are included in the sync.

 

Q: What is the daily timing of the sync feed?

A: The sync from OPS to the OAT database occurs once daily reconciliation is completed in the OPS database.