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27 July 2023

Capping a Banner Year for Awards, Datos Insights Names Black Diamond “Best-in-Class”

It may sound like false modesty to say we do not set out to win awards, but it is true. At SS&C, our team set out to build a powerful yet easy-to-use platform that can be the hub of an investment advisor’s business. Exhaustive conversations with advisors inform our roadmap to understand how firms work and what they need from a technology partner. Our goal is to deliver software and services that help advisors be more efficient and successful. We rely, above all, on their feedback for affirmation that we have answered their needs or are on the right track.

We are thrilled that the financial technology research firm Datos Insights – known until very recently as Aite Novarica Group – named SS&C’s Black Diamond® Wealth Platform “Best-in-Class” in its May 2023 Matrix of RIA portfolio management and reporting systems. What is especially gratifying about this recognition is the rigorous, objective scoring methodology Datos goes through to develop its “evaluation matrix” and measure the strengths of several competing solutions. The researchers look at not only the platform's capabilities but also the level of service that comes with it, as well as the strength and stability of the company behind it.

The report noted that Black Diamond and SS&C are “highly rated by the clients Aite-Novarica Group interviewed during the client reference process.” It went on to say, “Black Diamond offers a wide range of independent advisors, wealth managers, independent broker-dealers, and RIA aggregators a first-class portfolio management, reporting, client communications, billing, and trading rebalancing platform through its web-based application. Additionally, Black Diamond provides top-tier outsourced daily reconciliation and data management services for the advisor back office.”

It has been a banner award year for Black Diamond. Wealth Briefing named the platform the winner in the Data Management and Analysis category in the WealthTech Americas 2023 awards. Family Wealth Report (FWR) cited the combination of Black Diamond and SS&C’s Risk and Compliance Intelligence Platform (RCI) as the best compliance solution. In the same program, FWR named our own Jen Becher, VP Client Experience, number one in the Women in Wealth Technology Awards for 2023.

“I’m thankful to be part of a team that values the contributions of women in leadership positions,” Jen says in reaction to her recognition. “I also think this award speaks to the quality of the client experience for Black Diamond users. The real measure of our success is the feedback we get when we meet with clients, which is universally positive. They go out of their way to express gratitude for how we’ve answered their needs.”

Clients echo those sentiments. “I’m not surprised to hear that SS&C’s Black Diamond has won these accolades,” says Doug Besso, Chief Technology Officer of Hightower Advisors, a Black Diamond client since 2009. “We work with many wealth technology providers and based on our experience, it continues to be one of the best combinations of product and service in the business.  They’re always iterating on helpful new features, and we appreciate how responsive they are when we need help.”

Steve Leivent, SS&C Advent Senior Vice President and Co-General Manager, puts the accolades in perspective. “We view awards as a happy byproduct of doing right by our clients,” he says. “When we receive this kind of recognition, it helps to reward and motivate our hard-working team. It reaffirms our belief that we are doing something right. For our clients, it reinforces that they made the right decision in choosing Black Diamond. And for those firms who aren’t yet our clients, it gives them another good reason to check us out.”

Download the Aite report for an objective, comprehensive, and insightful analysis of Black Diamond. Or, to learn how the team can support your unique advisory firm, request a personal demo, call 1-800-727-0605, or email