The role of the personal wealth advisor is evolving. Today, many clients are less interested in investment research and recommendations, and more in need of a financial “life coach” to help manage their complete wealth picture. This holistic approach requires firms to leverage a more diverse set of tools – financial planning, risk analysis, retirement strategies, plus an in-depth understanding of the client relationship, and the ability to aggregate the client’s financial data from external sources. Software exists to support all of these capabilities, but you won’t find it all in a single system.
Our Black Diamond® Wealth Platform team has a better idea. Instead of trying to build everything in-house, we focus on delivering your firm the best wealth management platform in the industry, then partner with providers of complementary advisor technologies that are both proven and popular. We work closely with our partners’ development teams to make sure our systems are doing more than simply exchanging data in that we are working together in a way that is both powerful and meaningful to your firm.
Additionally, we make sure our integrations empower you to not only be more efficient and productive, but to deliver a distinctively better client experience. Efficiency is certainly a good thing, but sustainable growth and profitability comes from long-term, high-value relationships. Helping build and strengthen those relationships is the real power behind our integration philosophy.
We are always looking for solutions that can add value to your business and our integration partnership program is constantly evolving. In the past month alone, we’ve announced agreements with five new partners:
- RightCapital, a next-generation financial planning solution. The integration allows advisors to use the tool seamlessly within the Black Diamond environment to generate comprehensive financial plans for clients, and to memorialize key planning milestones from RightCapital’s system directly into Black Diamond’s Relationship Timeline.
- Allianz Life Insurance Company of North America, helps investment advisors incorporate annuities into clients’ holistic financial plans, including managing retirement risk. The direct data feed integration with Black Diamond allows advisors at broker-dealers and registered investment advisors (RIAs) to access Allianz Life annuity contract values in real-time.
- StratiFi Technologies, whose award-winning PRISM Rating™ technology uses proprietary algorithms to score a portfolio’s correlation, volatility and concentration risk. These measures provide advisors with actionable insights for managing risk, meeting compliance requirements and explaining complex exposure to clients.
- Timelineapp Tech Ltd, a UK company whose Timeline retirement income software helps advisors software manage their clients’ wealth “decumulation.” Once Black Diamond data is in Timeline, advisors will be able to work with clients on smart withdrawal strategies appropriate to their needs and goals.
- Tolerisk, a provider of risk assessment software that objectively quantifies an investor’s willingness and ability to take on investment risk. The integration will allow advisors to map portfolio information from Black Diamond into the Tolerisk system and create risk assessments more efficiently.
Our integration strategy enables us to deliver that elusive “all-in-one” solution, equipping you with best-in-class solutions, seamlessly accessible through your Black Diamond hub. This in turn allows you to deliver a holistic, personalized client experience that builds enduring relationships.
To learn more about our entire network of tight integrations to Black Diamond, visit blackdiamond.advent.com.