Advisors Using Advent's Black Diamond Platform Outpace Industry With AuM Growth

Tom Burroughes

5 June 2015

Advent Software, the San Francisco-headquartered fintech company, has reported that advisors using its Black Diamond wealth management platform increased assets under management on average by 23 per cent in 2014 – almost twice as much as the average gain across the industry as a whole.

The firm said that average asset growth on the platform has been calculated by averaging the percentage growth between beginning assets and ending assets of all Black Diamond clients using the platform from the start of January 2014 and December 31 last year and isn’t intended to represent investment performance or returns.

Average advisor asset growth rates ranged from 11-14 per cent in 2014, Advent Software, part of SS&C Technologies, said.

"With savvy investors demanding seamless access to a complete and customized picture of their wealth, hundreds of advisors are turning to Black Diamond for tools needed to help them tell their story to their clients," Dave Welling, senior vice president and general manager of Black Diamond, said.

Black Diamond is an independent business group of Advent Software and offers a cloud-based portfolio management platform offering aggregation, customizable reporting, and rebalancing combined with fully outsourced daily reconciliation and data management service.