Technology
Advent Previews Enhancements To Its Black Diamond Wealth Platform
Advent Software is making enhancements to its Black Diamond wealth management platform, the firm announced as its annual client conference in Las Vegas, NV, this week.
Advent Software is making enhancements to its Black Diamond wealth management platform, the firm announced as its annual client conference in Las Vegas, NV, this week.
As well as industry reporting solutions, Black Diamond offers a re-balancing application, firm and business intelligence reporting, data mining, and a service model designed for growing advisory firms.
“Black Diamond’s new platform and latest enhancements leverage new cloud, mobile, and social technology as well as expand platform functionality well beyond its roots in advisory reporting,” Advent said.
Enhancements
Advent is redesigning Black Diamond’s online investor experience - which it previewed at the conference and will be available early next year - including a revamped investor portal that can be tailored to individual clients and delivered through a web browser, tablets, phones or other mobile devices.
Additionally, through a “bi-directional document vault,” advisors will be able to post reports, financial planning documents, market commentary, and forms for clients to sign and return. A communication and notification system will tailor messages to each client by custodian, investment model, specific investment or any other data element in the system or criteria established by the advisor.
Meanwhile, improved data mining functionality will include enhanced filtering capabilities and data fields so that advisors can query, access and analyze their data in aggregated formats.
“Coming soon will be the ability to extract time-series data and cost basis data across all holdings,” Advent said. “Since its initial launch last year, nearly two-thirds of all Black Diamond clients use the platform’s data mining capabilities.”
“We use data mining and other recent enhancements as the base for our business intelligence and risk reporting,” said Eric Jardine, senior portfolio manager at BakerAvenue Asset Management.
