WealthArc vs Black Diamond Wealth Platform

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WealthArc

Category
Consolidated Reporting

Based in Switzerland, WealthArc is a digital wealth platform that helps wealth managers and family offices to drive workflow automation and client satisfaction.

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black diamond

Black Diamond Wealth Platform

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

–

Founded

  • 2015

Ownership

  • Clients are also owners

Incorporated

  • Switzerland

Locations

  • Zurich
  • Warsaw

Top markets

  • Luxembourg
  • Monaco
  • Switzerland
  • United Arab Emirates
  • United States of America

Total AUM

  • $14 billion

Avg. AUM per client

–


  • 500+


  • $4.633 million


  • 2003


  • Owned by a larger corporation


  • United States of America


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


  • United States of America


  • $1.9 trillion


  • $1.2 billion

Client
Focus

  • Independent financial advisors
  • Registered investment advisors

Serves also

  • Multi-family offices
  • Independent financial advisors
  • Fund managers
  • Banks

Number

  • 43 IFAs
  • 2 banks
  • 4 MFOs
  • 1 fund manager


  • Independent financial advisors


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


  • +1.800 firms

Product
Main tasks

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

Top features

  • Automated reconciliation of portfolio data
  • Consolidation of bankable and non-bankable assets
  • Independent performance calculation
  • Portfolio Analysis
  • Document Management
  • Invoicing
  • Investment Limits / Guidelines
  • Model portfolios & rebalancing
  • Trade execution
  • CRM – KYC, notes, documents, history of client interactions
  • Legal Structure overview
  • Client Portal
  • Advanced user management (functionality and data access)

Assets supported

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

Compliance

  • MiFID II
  • GDPR
  • FinSA/FinIA

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
  • Billing
  • Trading/rebalancing
  • Sophisticated report output
  • Business intelligence


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


  • RCI
  • SmartRIA


  • Yes

Technology
Type Of Software

  • SaaS

Security

  • We never import any sensitive data from custodians
  • Client sensitive data are stored in different data base server than portfolio data
  • AES 256 data encryption
  • 2 steps identification process (password + SMS code)
  • Local storage of data in Microsoft servers
  • Encrypted data in transit and at rest

Ecosystem

  • Microsoft

Integrations

  • Office 365 integration
  • Side by side integration with Refinitiv Eikon

Mobile App

  • No


  • 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. 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


  • Yes