Black Diamond

The Black Diamond® Wealth Platform is an offering of SS&C Advent, a business unit of SS&C Technologies.

An award-winning, cloud-native solution, Black Diamond is designed to manage unique and complex portfolios for family offices and their high-net-worth clients. Complete with customizable and robust household performance reporting, alternative data aggregation, an immersive client portal, and seamless connections to a vast ecosystem of smart integrations. Proactive, personalized attention from a dedicated service team ensures you can focus on your high-value clients with an exceptional level of service.

Financial management firms of all sizes and structures leverage Black Diamond’s flexibility, infrastructure, and power to streamline operations, deliver business insights, and connect with both prospects and clients to build long-lasting relationships.

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What sets Black Diamond apart?

"Our relationship with our clients is the single most important driver of our innovative atmosphere. We’re always thinking of what’s ahead, so you can focus on supporting the dreams of your clients."
Brian Justice

Product

Get an overview of what this software does.

Main tasks

  • Accounting
  • Consolidated reporting
  • Compliance (e.g. AML, KYC, regulatory reporting)
  • Portfolio management
  • Trading (execution on platform)
  • Trading (orders only)
  • Data aggregation

Top features

  • User interface
  • End client experience (client portal)
  • Data quality/data integrity
  • Exceptional service model
  • Billing
  • Trading/rebalancing
  • Sophisticated report output
  • Business intelligence

Assets supported

  • Bankable assets
  • Private equity
  • Real estate
  • Rare collectibles (e.g. luxury cars, boats, high-value jewelry)

Compliance

  • RCI
  • SmartRIA

Whitelabel

  • Yes

Type Of Software

  • Serviced Software
  • SaaS

Security

  • SSO & MFA (Single Sign-on and Multi-Factor Authentication)
  • Encryption In-Transit and At-Rest
  • Vulnerability and Penetration Testing
  • Source Code Analysis
  • Data Integrity Validation
  • Multi-Layered Endpoint Protection
  • Network Security including Web Application Firewall and Intrusion
  • Detection Secure Document Vault
  • Access Control (Role Based Permissions with Principle of Least-Privilege)
  • Firm Configurable Security Settings
  • Security Awareness Program

Ecosystem

  • Microsoft
  • Linux

Integrations

  • More than 55 pre-built integrations with other software solutions. We have a robust open API for custom integrations as well. Some key integrations are listed below:
    1. – CRM: Salentica, Redtail, Salesforce
    2. – Trading & rebalancing: Redblack, Blaze, iRebal
    3. – Financial planning: eMoney, RightCapital, MoneyGuidePro, Advizr, Libretto
    4. – Risk management: RCI, Hidden Levers
    5. – Custodian: Schwab, Fidelity, Pershing, Raymond James, LPL, Goldman Sachs
    6. – UMA/SMA: Adhesion, SMArtX

Mobile App

  • Yes

Type of data

  • Holding level

Accuracy

  • We have a highly intelligent reconciliation and accounting engine that combs through tons of accounts, holdings, transaction, and tax lots on a daily basis.
  • We also combine it with rich market data for deep reporting.

Custodians

  • 800+

Time to new custodian

  • A few days to a couple of weeks.

Cost structure

  • AUM based

Average cost p.a.

  • 0.5–5 BPS our average client pays ~ 1 BP on their total AUM.
black diamond

Category

Consolidated Reporting

Country

United States of America

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Get in touch with Black Diamond

black diamond brian justice

Brian Justice

VP Advisory Sales & Business Development

Key Company Info

Have a look at the company, clients and references to learn whether this is a match for you.

Employees

  • 500+

Revenue

  • $4.633 million

Founded

  • 2003

Ownership

  • Owned by a larger corporation

Incorporated

  • United States of America

Locations

  • Jacksonville
  • Florida
  • New York
  • San Francisco
  • California

Top 5 Markets

  • United States of America

Total AUM

  • $1.9 trillion

Avg. AUM per client

  • $1.2 billion

Focus

  • Independent financial advisors

Serves also

  • Single-family offices
  • Multi-family offices
  • Independent financial advisors
  • Registered investment advisors

Number

  • +1.800 firms

What Black Diamond's clients say?

"The whole process was very hands-on and led efficiently. We’ve also been growing through acquisitions, and being able to onboard new firms onto Black Diamond has been a smooth and close to seamless process. We really believe Black Diamond is the go-to resource for family offices."
Christopher Fagley, COO, Forbes Family Trust

Support & services

Learn what support and services you can expect

Support options

General contact mail or phone
Dedicated contact
In person on site support

Pricing of support

Free support

Onboarding

Firms with less than $1B in AUM typically complete implementation within 3-6 months.
Firms over $1B in AUM typically complete implementation within 6-9 months.

Customisation

The system is highly configurable so different clients and users are able to setup a unique experience.

Bespoke development

Some feature development is built to the specific needs of the individual client, but typically this is combined with other experiences that are generally available to all firms.

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