What is the most important attribute a wealth management firm needs in its core technology platform? Is it a particular feature or capability? Ease of navigation? Third-party integration? Around-the-clock support? Ask a dozen advisors that question and you will likely get a dozen answers.
In a market forecast column on WealthManagement.com, Steve Leivent, SVP of Advisory, makes the case that the overriding attribute advisors should look for in a system is adaptability to change. The reason is simple: because change is really the only thing that’s predictable about the advisory business. Between new regulations, investor demographics, product proliferation, market volatility and new forms of competition, the industry often seems to be in a constant state of flux. And if your technology lacks the flexibility to adapt to change, you can get left behind quickly.
As Steve further points out, the Black Diamond® Wealth Platform was designed to help advisors weather a changing environment. As a cloud solution from inception, it was unrestricted from the constraints of long software development cycles. And in its fourteen-year history, it has undergone a series of dramatic transformations in its own right, from an elegant reporting solution to a comprehensive advisory platform and business hub.
Amid all this change, our New Year’s resolution for 2020 remains the same as every prior year’s: we will continue to invest in our platform and deliver the innovations advisors need to stay ahead of their client’s changing needs and expectations. To understand what it takes to keep pace with change, and to see how Black Diamond has evolved to further support the wealth management industry, read Steve’s full WealthManagement.com article (found on page 19).