Former Schwab Advisor Services executive, David Welling, brings RIA industry expertise and a strong growth and innovation track record to fast-growing performance reporting and portfolio management technology firm as Chief Solutions Officer.
Jacksonville, FL. January 25, 2010 Black Diamond Performance Reporting announced today that RIA industry veteran, David Welling, has joined the firm as Chief Solutions Officer. Mr. Welling, recently a Vice President at Schwab Advisor Services, will oversee sales, marketing, product management and client solutions and will be a member of the Black Diamond Senior Management Team.
“Dave brings a wealth of knowledge of the independent advisor industry as well as deep experience leading new ventures, building successful organizations and delivering strong growth,” said Reed Colley CEO and Founder of Black Diamond. “Dave shares our passion for serving advisors and helping advisors achieve their visions of being great. We are thrilled to have Dave and his unique blend of strategic thinking and execution experience as a member of our Senior Management Team,” added Colley.
Welling joins Black Diamond after twelve years at Schwab in various leadership positions in strategy, marketing, practice management and general management. While at Schwab, Welling was instrumental in leading many of the innovations over the last decade in the RIA industry, including Schwab’s retail referral strategy to RIAs and spearheading the creation of one of the industry’s most respected practice management and business consulting offerings. As head of the practice management group at Schwab he worked directly with some of the largest and most successful advisory firms in the industry helping them optimize growth, productivity and profitability. Prior to Schwab, Welling was a Consultant at Bain & Company in San Francisco after receiving his MBA from the Stanford Graduate School of Business.
“Black Diamond is a true innovator with unique core technology and an intense focus on serving advisors and helping them build successful businesses,” said Welling. “Advisors in both periods of growth and times of turbulence are looking for ways to deepen their relationships with their clients and improve the productivity and scalability of their businesses. I’ve witnessed first-hand how Black Diamond helps advisors overcome the potential paradox between delivering high-touch client service and improving firm productivity. Black Diamond enables advisors to deliver transparent, real-time performance information to their clients while also improving their own workflow and productivity,” added Welling. “I am looking forward to working with the Black Diamond team and continuing to serve the independent advisor industry.”
“We view the business of serving advisors as a collaborative community. We believe in building partnerships with advisors as well as with custodians and other technology providers so we can jointly help advisors capture the tremendous opportunity in front of them. Dave will play a key role in making this happen as our Chief Solutions Officer,” noted Colley. “Investing in experienced industry talent to help our clients better navigate the markets and take advantage of opportunities is yet another example of our mission to transform the industry by enabling advisors to be great,” concluded Colley.
About Black Diamond Performance Reporting
Founded in 2003, Black Diamond Performance Reporting™ offers a powerful tool for advisors and wealth managers by providing unbiased, outsourced investment performance reporting. The Black Diamond solution is a highly customizable, Web-based performance reporting solution that provides accurate, timely and meaningful data allowing advisors and wealth managers to tell their investment performance story. Using its proprietary reconciliation engine, Black Diamond reconciles its clients’ data on a daily basis so advisors and wealth managers always have the most current reporting information available at their fingertips. Black Diamond has been recently recognized as the second fastest growing firm in Northeastern Florida by the Jacksonville Business Times. Black Diamond Performance Reporting™ is headquartered in Jacksonville, Florida, with offices in San Francisco, Philadelphia and Dallas.
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