Upon the transaction’s expected closure in early 2025, Summit’s CEO, Reed Colley , will join Orion as president of Orion Advisor Technology, reporting directly to Orion CEO Natalie Wolfsen, the firm said in a statement. Reed and Summit’s 13 employees will join Orion upon closing, with Summit operating as a branded entity within Orion.

With 25 years of experience, Colley is the co-founder and CEO of Summit Wealth Systems. Before launching Summit, he founded and served as CEO of Black Diamond Performance Reporting, establishing the company in 2003 to deliver an advisor-focused wealth platform. Reed also founded Copilot, a calendar analytics platform, along with Do Something Great Today and FlightPath.

Besides the addition of Colley, Orion in 2024 added president of wealth management Ron Pruitt, chief financial officer Mark Mayo and head of strategy Chris Shutler.  

Summit provides client reporting and portfolio management solutions for large RIAs. It was launched in 2019.