SS&C Technologies has joined forces with StratiFi Technologies to enhance compliance capabilities of registered investment advisory (RIA) firms.

The partnership will allow SS&C to integrate its Black Diamond Wealth Platform with StratiFi’s PRISM Rating technology.

PRISM Rating technology enables investment advisers, family offices and investors to define and manage risks that not well understood.

StratiFi enables financial advisers to help their clients by identifying, defining, and managing risks.

The integration, according to the partners, will enable financial advisers to manage risk on one platform.

StratiFi’s PRISM Rating technology analyses thousands of securities using proprietary algorithms. It is used to quantify a portfolio’s correlation, volatility, tail and concentrated stock risk to calculate a total risk score.

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StratiFi Technologies co-founder and CEO Akhil Lodha said: “StratiFi’s PRISM Rating and Black Diamond integration simplifies regulatory compliance for monitoring and archiving advisor activities. The integration provides a tool to show auditors a firm’s enhanced, proactive supervision measures.”

The integration with Black Diamond’s analytics will offers advisers better insights and help them in alleviating risk.

SS&C head of partnerships and integrations for Black Diamond Wealth Platform Justin Wayne said: “In an era of heightened regulatory scrutiny, advisers need financial technology that offers smarter and more reliable tools to identify and manage risk.

“Our mutual clients can effortlessly quantify risk for a differentiated client experience and effective oversight.”