Orion Expands Fractional Share Trading for Schwab-Advisor Custody Clients — Orion Advisor Solutions, Inc.

Event summary

Orion launched fractional share trading for advisors using Schwab Advisor Services custody, integrated into its existing trading and rebalancing platform.
The feature allows advisors to implement client models to the dollar, reducing uninvested cash and improving portfolio precision.
Fractional shares are available through Orion’s workflow without requiring separate tools or manual workarounds.
As of June 30, 2026, Orion manages $6.6 trillion in assets under administration and $211 billion in wealth management assets.

The big picture

Orion’s move underscores the growing demand for precision tools in wealth management, particularly as advisors seek to optimize smaller accounts. The integration with Schwab Advisor Services suggests a strategic alignment between custodial services and advisory technology, potentially setting a new standard for portfolio customization. With $6.6 trillion in AUM, Orion’s scalability positions it as a key player in shaping industry-wide adoption of fractional trading.

What we're watching

Adoption Pace: How quickly advisors will integrate fractional share trading into their workflows and whether it drives meaningful shifts in portfolio management.
Competitive Response: Whether other wealthtech platforms will accelerate their own fractional share offerings to match Orion’s feature set.
Client Impact: The extent to which fractional shares reduce cash drag and improve investment outcomes for smaller accounts.