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01 April 2020

Leveraging a Proactive and Robust Rebalancer

By Timothy Welsh

Founded in 1985, Reby Advisors is an independent, fiduciary-based financial planning and investment management firm based in Danbury, CT.  Providing clients everything they need to enjoy sustainable financial independence, Reby Advisors sees wealth as more than money.  Wealth means something different for every client, so Reby strives to help clients achieve the lifestyle and financial goals that matter most to them as individuals.  Their team’s advice goes beyond the portfolio and includes all areas of personal finance.

Because of this service promise, Reby has a forward-looking view of the technology they use to provide an outstanding client experience.  According to Devone McLeod, Certified Financial Planner® for Reby, “Our approach is to get ahead of our clients when it comes to technology. Clients are becoming more tech-savvy and expect a more digital experience and we want to get in front of that.”

This is why Reby has been a long-time user of the Black Diamond® Wealth Platform. “We use Black Diamond to support our investment management business, including our portfolio services,” says McLeod. “Until just recently, the one missing piece to having a complete system was our use of a third party, stand-alone rebalancer. The technology we had was very difficult to use and really slowed us down.”

Despite a rich data integration from Black Diamond to the third-party rebalancer, it would often take advisors longer to use the rebalancer than to rebalance manually through an excel spreadsheet.  “It really defeated the purpose because the interface was tough to use and just didn’t scale.”

Once Reby made the switch to Black Diamond’s Rebalancer, their process was immediately streamlined and automated. “We were already using Black Diamond’s platform, so the process of upgrading to their Rebalancer was a very simple and productivity-enhancing move,” McLeod noted. “The ease of use was tremendous and has been key to our quick adoption firm-wide. When you combine the intuitive user interface with its breadth of feature- rich tools and depth of analyses – it has been transformational for us.”

McLeod is particularly appreciative of the tax efficiencies inherent in Rebalancer. “The way the system recognizes which clients have tax-loss harvesting opportunities is very helpful, particularly for year-end rebalancing as well as when we start working with a new prospect.  We can immediately demonstrate our value by illustrating the tax savings we can deliver to a new client.”

Other key features of the Black Diamond Rebalancer transforming Reby’s processes include the dashboard view of clients needing rebalancing, or may have excess cash that can be invested.  “Instead of us having to research each and every client manually to see which accounts need rebalancing or have cash positions, Rebalancer’s dashboard alerts us automatically, which saves us a ton of time and enables us to be very proactive with clients,” McLeod says.

Ultimately, according to McLeod, with Rebalancer, “Black Diamond has become our one stop shop for investment management.”  On top of its robust feature set and ease of use, McLeod and his fellow advisors truly appreciate the service levels from Black Diamond’s dedicated Rebalancer team. “Getting started was much simpler than we anticipated, in fact, the service team’s responsiveness was truly amazing and they helped us set up the system easily, which made all the difference.”

To learn more about Reby Advisors, please visit their website at www.rebyadvisors.com.

If you’d like to learn more about the Black Diamond Wealth Platform and its Rebalancer, please call 1-800-727-0605 or email info@advent.com.