Private Wealth Systems vs Black Diamond Comparison

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Private Wealth Systems

Private Wealth Systems

Category
Consolidated Reporting

USA-based Private Wealth Systems provides the digital infrastructure that powers modern family offices across the world. The platform is able to support even the most complex nested ownership structure through its capturing, correcting, calculating and presenting of actionable information across asset classes and currencies.

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black diamond, family office software, portfolio management software, consolidated reporting software

Black Diamond

Category
Consolidated Reporting

USA-based, the Black Diamond Wealth Platform offers a cloud-based solution encompassing accounting, consolidated reporting, compliance, portfolio management, trading and data aggregation. Complete with performance reporting, portfolio rebalancing and an immersive client portal, the platform connects to a vast ecosystem of smart integrations.

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Company
Employees

11-50

Revenue

$4M

Founded

2014

Ownership

  • Owned by management
  • External investors

Incorporated

United States

Locations

  • Charlotte
  • Darien

Top 5 Markets

  • Switzerland
  • United States of America
  • United Kingdom
  • Saudi Arabia
  • Mexico

Total AUM

-

Avg. AUM per client

$200M


500+


4,633 $M


2003


Owned by a larger corporation


United States of America


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


United States of America


USD 1.36tr


USD 870m

Client
Focus

Single family offices

Serves also

  • Multi family offices
  • Financial advisors
  • Banks
  • UHNWIs
  • Fund managers

Number

  • 2 private banks
  • 2 accounting firms
  • 2 RIAs
  • 4 MFOs
  • 30 SFOs
  • 21 UHNWIs


Financial advisors


  • Single family offices
  • Multi family offices
  • Banks


  • Family Office – 87
  • RIA / Wealth Manager – 1,354
  • Broker Dealer – 39
  • Bank / Trust Co – 40
  • Other – 42

Product
Main tasks

  • Accounting
  • Consolidated Reporting
  • Compliance
  • Portfolio Management
  • Data Aggregation
  • Risk Management
  • Impact/ESG Reporting

Top features

  • Personalized attributes
  • Personalized Data Sets
  • Personalized Structures
  • Data Reconciliation
  • Performance Calculation
  • Account Aggregation
  • Custom Reporting
  • Portfolio Management
  • Partnership Accounting

Assets supported

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

Compliance

  • GDPR
  • MiFID II

Whitelabel

Yes


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


  • User Interface
  • End client experience (client portal)
  • Data quality/data integrity
  • Exceptional service model
  • BillingTrading/Rebalancing
  • Sophisticated report output
  • Business Intelligence


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


-


Yes

Technology
Type Of Software

  • SaaS
  • Serviced Software

Security

  • Multi-Factor Authentication
  • Monthly scanning of code base to ensure no backdoor entry
  • Continuous network scanning for intrusion detection/prevention
  • Data Leakage Prevention for internal users
  • Attack/Penetration testing on an on-going basis by several private banks

Ecosystem

Microsoft

Integrations

API that can connect with any third party system including CRM, bill pay

Mobile App

Yes


  • Serviced Software
  • SAAS


  • 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


  • Microsoft
  • Linux


  • More than 55 pre-built integrations with other software solutions as well.
  • Robust API for custom integrations.


Yes

Simple solutions for complex times.