Advent Software has rolled out the next generation of its Black Diamond wealth platform, dubbed BD3, for advisors and wealth managers.
BD3, which represents the third generation of the Black Diamond platform, consolidates portfolio management, reporting, client communications, as well as rebalancing in a single, holistic cloud platform.
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According to the company, the new platform will facilitate improved advisor workflows to improve productivity across client onboarding and portfolio rebalancing to preparation for client meetings and presentations.
It will help advisors customise their experience and their clients’ reports, and offer advisors and operations staff in-platform alerts and views.
The wealth platform will also enable advisors to present a client’s Total Wealth View, which will offer clients a single, comprehensive net worth view based on aggregation of daily-reconciled data, held away assets, manual assets and liabilities.
Dave Welling, senior vice president and general manager of Black Diamond, said: "Many advisors today provide much more than investment guidance and often the foundation of their conversations with clients focus on total net worth, income generation, goal setting, planning, and how to protect accumulated wealth.
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By GlobalData"It was critical that we evolve beyond our roots in dynamic performance reporting to illustrate a total view of wealth as well as provide a platform that can support the broader narrative that advisors are having with their clients. The platform embodies our ongoing effort to empower advisors and wealth managers to revolutionize and revitalize the dialogue with their clients and to clearly demonstrate their value."
