SS&C Advent offers many product solutions that integrate data and technology into other established data formats and tech stacks. For example, we recently had a firm that came to us seeking more flexibility with their data, books, and records through an integration with their Order Management Systems (OMS). In addition, this particular firm needed a product that could import intraday trades from their OMS into their existing portfolio accounting system with the ability to reconcile against the custodian, which they accomplish with APX. Fortunately, SS&C’s Black Diamond Link solution, also known as BD Link, could meet this firm’s needs.
BD Link has the ability to sync data multiple times each day from SS&C’s APX or Axys solutions into SS&C’s Black Diamond® Wealth Platform, automating positions, transactions, prices, account information, house holding, manager portfolio groups (for business intelligence), cost basis, client users, and relationships. Furthermore, advisory firms still have the option for outsourced data reconciliation with Advent Managed Services to reconcile daily custodial feeds. With this type of tech stack setup, advisory firms can have control of their custodial data reconciliation.
The BD Link ecosystem includes the best of multiple solutions by leveraging:
- Backend solution: CRM/OMS data pumps into APX, the true hub for all data collection, integrations, books, and records.
- Frontend solution: Black Diamond, which provides client reporting, client experience, and advisor views.
By connecting a firm’s backend and frontend together, BD Link can showcase 30+ years of performance or transaction history within client reporting. For example, if a firm uses APX, advisors can make changes historically. Those updated transactions and positions will flow through in the next BD Link update. Even multi-currency account reports are available through the BD Link feeds. By getting control of custodial feeds to reconcile against the custodian, advisors can maintain client interactions efficiently with a true book of records within a data integrations hub.
Lastly, firms with BD Link leverage an APX technical consultant responsible for maintaining the automation and reconciliation of the daily feeds, understands workflows, and consults firms on how to accurately get data from one system to the next. During product implementation, a consultant is assigned to manage the project, training, rollout, and success of the firm’s introduction to the platform. Moreover, after implementation, the dedicated service team who understands the systems continuously monitors data feeds and audits account data. This team also proactively sends updates on new releases and enchantments and is available through support cases, emails, and phone calls when needed.
For more information on how BD Link or other SS&C solutions can support your advisory firm, request your personal demo, call 1-800-727-0605, or email firstname.lastname@example.org.