In 2018, Black Diamond Wealth Platform added 71 new firms that use Schwab Advisor Services. Today, Black Diamond has 600 clients that custody with Schwab. In total, more than 1,300 firms with $900 billion in AUA rely on Black Diamond as the cornerstone of their technology stack.
Steve Leivent, Senior Vice President at SS&C Advent explains, “We are proud of our strong relationship with Schwab and Schwab PortfolioCenter®. Whether firms are looking for an overlay solution with Schwab PortfolioCenter, or if they are simply looking for their technology partner for years to come, we are here for Schwab advisors.”
For Schwab Advisors considering Black Diamond, here are five key considerations:
- Black Diamond firms are among the largest users of Schwab OpenView® Gateway integrations.
- The new Black Diamond Rebalancer offers FIX trading connections to Schwab.
- Schwab custodial statements and tax documents are available within Black Diamond.
- A complimentary conversion tool is available for current PortfolioCenter clients moving to Black Diamond.
- An opportunity to join the Q1 2019 pilot for Black Diamond Link for advisors using PortfolioCenter. This allows an advisory firm to keep PortfolioCenter as the portfolio accounting engine and overlay the Black Diamond interface for an enhanced advisor and client experience. The result is the full Black Diamond experience without a migration.
For advisors not quite ready to adopt Black Diamond but seeking additional features or integrations, we have the following capabilities and promotions available today:
- A 50% discount off first-year fees for new Modestspark agreements before year-end 2018. Modestspark is the most widely used wealth reporting portal for PortfolioCenter clients.
- Salentica CRM has made several enhancements and now serves more than 200 advisors on customized versions of Salesforce and Microsoft Dynamics CRM.
- SS&C recently launched Salentica Data Broker for rapid deployment of custodial integrations to any version of Salesforce or Microsoft Dynamics 365 CRM implemented independently.
Advisors attending Schwab IMPACT who would like to learn more can stop by the Black Diamond Wealth Platform or SS&C Salentica booth.