Integrations: Orion and Schwab
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Organic Yak
We custody at Schwab and use Orion for performance reporting. Are there any differences in Koyfin if we integrate with one or the other? Also, I've set up Orion in the Integrations panel, but the Orion option isn't appearing in Add a Portfolio in Client Portfolios. I'm on an Advisor Pro trial, if that matters. Thank you.
Conor MacNeil
Hey Robert, we are seeking to improve the in-app communication around this, but once connected to Orion it imports accounts during the next scheduled 'Daily Sync' which is usually at night. So:
- We are going to improve the latency there and start these initial loads of the accounts as soon as we have the data, which for Orion is usually minutes after connecting.
- We are going to improve the in-app communication for users like you so they are not sat wondering "what happens now". Think banners and text explaining what is happening (accounts are importing, please stand by).
Also, because you mentioned it, we no longer support importing manually, all the accounts are loaded and synced by default now. We are collecting feedback on the matter there to see if this is the right approach.
Lastly, your question, there isn't a great deal of difference between Orion and Schwab. Orion is an API-based integration so it's instant connection, and soon will be almost instant account import too.
The Schwab set up is slightly different and requires a form to be submitted and a data request, which Schwab processes and then we set it up on our end. It can take a few days. More info on that here: https://www.koyfin.com/help/schwab-advisor-integration/
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Organic Yak
Conor MacNeil Thank you for the thorough answer to both questions. With Schwab, is security pricing updated regularly when the market is open, or is it once per day like Orion?
Conor MacNeil
Organic Yak: Hey Robert.
It depends what you mean by security pricing. If you mean the intra-day prices of securities in those portfolios, that data comes from Koyfin. For example if you own Apple (APPL) in a portfolio from Orion, the price will tick live during the day.
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Organic Yak
Conor MacNeil Thank you. I hadn't realized that Koyfin reprices the securities based on market data.
Conor MacNeil
Organic Yak: Pleasure. Yes, during the day those portfolios values should float with the underlying prices of securities within them. provided we have that data.
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Organic Yak
Update: Orion now syncs.