"Wealth management firms need to cut costs by 20%, while at the same time increasing investments in technology and reporting."
Discover What You've
Been Missing
Managing growth in a more complex and volatile market environment has become a daunting task for many advisors. Combined with pressures on revenues from declining markets and increased client demands for service, many are looking for new solutions to help them to maintain profitability and the continued growth of their firms...
Many advisory firms are using legacy software solutions for portfolio management and reporting and relying on manual processes to perform operational tasks such as reconciliation and aggregation. This dependency on old technology and processes that don't scale can result in lost productivity, , compressed margins, encumbered client service and a reduced ability to focus on future growth.
By having a web-based portfolio management and reporting platform that is flexible, dynamic, easy to use and is integrated into all of the industry's leading custodians, advisors can lower technology acquisition costs and ongoing back-office staff costs by tens of thousands of dollars for smaller firms to upwards of hundreds of thousands of dollars for large firms on an annual basis.
Table 1.0 – Total Annual Savings from Web-based Performance Reporting vs. Traditional Software Licenses / Manual Processing
| Size of Firm (AUM) | $150M | $500M | $1B+ |
|---|---|---|---|
| Technology Acquisition Cost Savings |
$26,300 (41.2%) | $29,500 (28.2%) | $66,200 (34.6%) |
| Activity Cost Savings | $29,000 (96.59%) | $42,400 (94.9%) | $73,000 (95.9%) |
| Total Savings | $55,300 (58.9%) | $71,900 (48.2%) | $139,200 (52.1%) |
Our Commitment To Support Your Path To Greatness
Achieving the full benefits of outsourcing requires more than choosing the right technology. It requires choosing a great partner who is committed to serving you and helping you realize the value of your investment.
Black Diamond is the leading provider of web-based, outsourced portfolio management and reporting platforms to independent advisors. Our mission is to support and cultivate advisor greatness through providing the best combination of technology, service and innovation in the industry.
Our solution provides:
- Web-based portfolio management platform
- Performance reporting
- Online account holder access
- Aggregation
- Daily reconciliation
- Billing
- Business intelligence
- Integrations other technology applications (CRM, planning, rebalancing etc.)
