Following last year’s unveiling and this year’s rollout of the new Black Diamond investor experience, Advent yesterday showcased the next generation of its Black Diamond wealth platform.

Advent Software, which serves the global investment management industry, yesterday unveiled the third generation of its Black Diamond platform at its 2015 AdventConnect conference in Las Vegas, NV.

Cloud-based Black Diamond is now a “full-featured wealth management platform” that integrates portfolio management, reporting, client communications and rebalancing. Clients will also see improved flexibility to support branding and reporting needs of different teams typically found at large wealth management enterprises, the firm said.

“BD3” will be released in the third quarter following a beta program.

“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,” said Dave Welling, senior vice president and general manager of Black Diamond. “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.”

Also new to the Black Diamond wealth platform is the ability for advisors to present a client’s “total wealth view,” based on aggregation of daily-reconciled data, held-away assets, manual assets and liabilities. This is presented interactively through “presentation mode.”
 
Meanwhile, it also features a “mobile-first” responsive design, meaning the platform can now be used in web browsers or via tablets, phones and other mobile devices.