SS&C Technologies held their annual conference in mid-September in Chicago at the Hyatt Regency where over 1,000 advisors, tech executives and partner firms convened for 2 ½ days.
Rebranded as SS&C Deliver after the acquisition of Advent Software by SS&C Technologies two years ago, the annual confab of Advent and Black Diamond users put on quite the show, with many new products, integrations and platform enhancements revealed.
(Related: SS&C Announces Spate of Tech Updates)
After its recent acquisition of Salentica, the Canadian-based CRM overlay for Microsoft Dynamics CRM that many large RIAs use to power their back offices, SS&C has invested aggressively to pivot the system to the Salesforce platform.
With the release of Salentica Elements, advisors working with the Black Diamond wealth platform will now have access to a comprehensive CRM available on the Salesforce AppExchange. The new functionality will provide advisors with an advisor-specific solution that has pre-built configurations, workflows and features native integration with the Black Diamond wealth platform.
Other big product and platform news was the latest enhancements to the Black Diamond wealth platform. Senior Solutions Manager Justin Wayne showcased the latest developments to a standing-room only session.
“We now have one service contract and one tech stack that provides integrated reporting, portfolio accounting, outsourced data management, rebalancing, client portal, CRM, financial planning, risk analytics and now managed accounts,” Wayne noted.
Through the recent platform bundles of Riskalyze risk management and Advizr financial planning, Black Diamond has become a fully featured wealth platform.
Now, through a partnership with SMArtX over 250 investment strategies are now available on the Black Diamond wealth platform, effectively making it a TAMP-like offering. “This SMA platform is an integrated solution bundled into Black Diamond all within one custodial account for 15 basis points, which includes the cost for Black Diamond, effectively making it a next-generation TAMP.”
This combination of best-in-breed tech along with low-cost managed accounts promises to throw a shock wave through the TAMP marketplace.
Along those lines, industry technology guru and T3 conference and newsletter publisher Joel Bruckenstein delivered a featured session at the conference on the “Future of Wealth Management.”