Wealth management is a relationship business. Sure, it requires a lot of financial acumen, but firms that succeed over the long term do the best job of attracting, retaining and growing clients. They succeed by delivering a highly personalized client experience that engenders confidence and loyalty that can last a lifetime – or, if they’re really successful, across generations.
Technology for advisors needs to be designed with this in mind. The best technology goes above and beyond simply improving efficiency and accuracy to help advisors engage with clients more effectively. To that end, the choice of a client reporting solution and a CRM platform are arguably an advisory firm’s most important technology decisions.
This is the guiding principle behind our suite of solutions for private wealth advisors. The Black Diamond Wealth Platform is fundamentally about strengthening relationships by enhancing the advisor-investor experience. Client reporting is at the core of that. Highly configurable, easy-to-use reports and 24/7 transparency via the Client Experience portal enable advisors to demonstrate how they are helping clients reach their personal goals.
Similarly, our SS&C Salentica CRM solution enables wealth managers to connect with their clients on a deeper level and tailor their services to individual needs. Salentica leverages two leading CRM platforms, Salesforce and Microsoft® Dynamics 365, to deliver solutions purpose built for the client service and operational workflows of wealth management firms.
Working together, Black Diamond and Salentica deliver portfolio management and CRM technologies through a one-of-a-kind integrated experience. As a testament to these platform’s leading edge technology, each was recently named the best in its respective category in the 2019 Family Wealth Report Awards, held at the Mandarin Oriental Hotel in New York on March 20. Showcasing best-in-class technologies for private banking, wealth management and advisory businesses, the FWR awards recognize companies, teams and individuals deemed by the judges to have “demonstrated innovation and excellence” during the previous year. Entries were judged specifically “focusing on the client experience, not quantitative performance metrics,” said FWR publisher Stephen Harris.
By that measure, Black Diamond took top honors for “Best Client Reporting.” According to the judges, “The winning firm’s partnership reporting and user-friendly, intuitive report-building function drew our judges’ approval in this well-contested category.” The 2018 launch of the Black Diamond Client Experience tipped the scales as an example of “innovation and excellence.”
For Salentica, named “Best CRM System” two years in a row, the presenter said, “The judges were drawn to the winner’s versatility, which is reflected in its platform orientation and integration capabilities. The wide range of applications this solution could be used for particularly impressed them.” Salentica’s entry was no doubt enhanced by the recent launch of Salentica Data Broker, which seamlessly delivers real-time data feeds from leading custodians into firms’ CRM and portfolio management systems.
“We’re extremely grateful to be recognized by Family Wealth Report for delivering a high-quality user and end-client experience,” said Steve Leivent, SVP and head of SS&C’s advisory business unit. “Our Black Diamond and Salentica teams are focused on helping advisors win client confidence and ongoing business. Winning industry recognition in the process tells us we’re on the right track.”