Innovative web-based service and technology platform will provide Presidio clients with customized, accessible reports.
SAN FRANCISCO AND JACKSONVILLE, March 15, 2011 – Presidio Financial Partners LLC and Black Diamond Performance Reporting announced today that they have entered into a strategic partnership that will offer Presidio’s clients enhanced performance reporting that is tailored to the unique services Presidio provides its clients. Under the arrangement, Black Diamond will provide Presidio’s $4 billion wealth advisory practice with its innovative Web-based portfolio management, performance reporting platform and data reconciliation services.
“Black Diamond shares our values and commitment to clients,” said Brodie L. Cobb, Presidio’s Founder and CEO. “They bring the same entrepreneurial motivation to their business that drives ours. When we began to consider outsourcing performance reporting and portfolio management operations, we looked at several potential providers. Black Diamond offers a superior combination of technology and service, as well as the infrastructure needed to achieve our goals for growth. We’re delighted to be working with them.”
Mark Palmer, Head of Presidio’s Wealth Management Practice, added, “With Black Diamond assuming responsibility for significant back office operations, our advisors and I will have more time to focus on our clients. Our clients will receive customized reports, and they’ll have access to data through a browser or an iPad app. In enhancing our reporting we were also aiming to provide our clients an aggregated view of their total assets that we manage including alternative investments and assets held away, without it becoming a huge operational burden for our team. And we’re relieved of the headaches of manual data entry and daily reconciliation. Bottom line, Black Diamond gives us cutting edge technology, scalability, and a much better client experience.”
“Presidio and Black Diamond connected from the very start as entrepreneurial firms determined to have a significant impact on the industry. Presidio is a leading advisory firm in the industry that is focused on providing great service to their clients. Black Diamond’s purpose is to support advisors on their path to greatness by providing the technology, service and pace of innovation they need to have a significant impact,” said Reed Colley, CEO of Black Diamond. “Presidio has a thoughtful growth strategy, with multiple offices and plans to open more. Presidio’s clients are sophisticated and engaged, and need access to data through multiple channels. This relationship will continue to expand as we will work closely on future innovation and we look forward to helping them achieve their vision of greatness.”
Palmer said Presidio plans to complete the implementation of Black Diamond’s platform in the second half of the year.
About Presidio Financial Partners.
Presidio Financial Partners LLC is a personal and corporate financial services firm. With nearly $4 billion in assets, it is one of the nation’s leading wealth advisory firms. Through its interconnected investment banking, private equity, wealth advisory, and family enterprise strategies units, Presidio is uniquely capable of addressing the lifecycle challenges of wealth – from its creation, through its retention and growth, to its transfer to successive generations. The firm’s principals each have extensive experience running businesses and creating wealth of their own; their understanding and management of risk is unsurpassed. Presidio currently serves clients in 25 states, through offices in San Francisco, Dallas, and Los Angeles. For more information, visit http://www.presidiofp.com.
About Black Diamond Performance Reporting.
Black Diamond is a leading provider of Web-based, outsourced portfolio management and reporting platforms to independent advisors, wealth managers, banks, broker-dealers and family offices. Founded in 2003, Black Diamond currently reports on over $70 billion in advisor assets and is a pioneer in delivering daily reconciliation and performance reporting services through a dynamic, user-friendly and customizable platform. Black Diamond has been recognized as a top ten fastest-growing firm in Northeastern Florida for the past two years and one of the top three of the Best Places to Work in Jacksonville by the Jacksonville Business Journal. Black Diamond Performance Reporting is headquartered in Jacksonville, Florida, with offices in Dallas, Denver, Philadelphia, New York and San Francisco. For more information about Black Diamond services visit http://www.blackdiamondreporting.com.
Media inquiries:
For Presidio Financial Partners:
Dale A. Carlson
Carlson Public Relations
415/310-8616
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For Black Diamond:
Timothy D. Welsh
Nexus Strategy, LLC
415/847-4874
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