Data isn’t just everywhere—it’s the backbone of modern finance. Split-second decisions can make or break portfolios. The right data at the wrong time can be the difference between leading and lagging. SS&C’s Black Diamond® Wealth Platform doesn’t just collect data—we refine it, streamline it, and turn it into actionable intelligence.
Every day, we process an enormous influx of financial data from custodial partners, third-party vendors, and the SS&C ecosystem. We start with 4.5 million client accounts, feeding in 84 million daily positional records and 1.5 million transactions.
This isn’t just raw intake—it’s precision engineering. Our proprietary reconciliation engine, powered by elastic hardware scaling, parallel processing, and batching, ensures we move at top speed. The result? A fully processed dataset in under two hours. For the average firm, raw data transforms into clean, actionable insights in less than a minute.
And we don’t just store data—we optimize it for performance and accessibility. Our daily positional storage eliminates the need for recalculations, meaning performance reports are generated at scalable speed – no delays, no inefficiencies, just-lightning fast access to the numbers that matter.
Beyond Custodial Feeds
Data isn’t just about volume; it’s also about versatility. We’ve expanded our reach beyond core custodial feeds, integrating with powerful SS&C products:
- Trust Data: Through the SS&C Trust Suite, we ingest and process trust data from SS&C Innovest, ensuring accurate Principal and Income reporting.
- Alternative Investments: Our new alternative investments solution, SS&C Accord, pairs seasoned service professionals with cutting-edge OCR technology to automate reporting and remove operational burdens.
- Trading Enhancements: Through our partnership with SS&C ALPS, clients can subscribe to and leverage ALPS models directly within the Black Diamond’s Rebalancer.
- Insurance Data: Our integration with DPL provides seamless access to insurance data from top carriers through the Advent Insurance Marketplace.
Access to data is just as critical as the data itself. That’s why we’ve invested in real-time and batch APIs, giving firms the flexibility to extract their data on demand. Our batch API allows for multiple daily pulls of transactions, positions, and cost basis—all in a structured, easy-to-use JSON format. And we’re not stopping there. We’re actively researching deeper integrations with data warehouse solutions like Snowflake to expand access even further.
The Future of Big Data and AI in Wealth Management
The world of financial data is evolving rapidly, and AI-driven analytics are playing a key role in shaping the future. Enterprise clients are increasingly turning to Data Lakes and Data Blobs to manage and extract insights from massive data sets. By harnessing these technologies, firms can gain deeper insights, improve forecasting accuracy, and unlock new efficiencies in data management.
Advanced Data Processing Tool Sets
At Black Diamond, we continue to push the boundaries of data processing with advanced tool sets designed to streamline operations and enhance accuracy:
- Reconciliation Rules: When only one corrective action can resolve an audit failure, reconciliation rules ensure data is processed consistently and efficiently. Currently, these rules handle 25% of daily exceptions that would have otherwise required manual intervention from our Operations team, reducing delays and improving accuracy.
- Global Recon: Identifying trends and empowering Operations teams also requires a broader view of data. Our Global Recon toolset allows teams to resolve exceptions at the Data Provider level for all firms affected, increasing efficiency while maintaining consistency across the board.
Our team is committed to helping firms unlock the full potential of their data by continuously investing in AI, data-sharing innovations, and scalable infrastructure. At Black Diamond, we don’t just process data—we master it. Our commitment to continuous investment in data processing, storage, and sharing ensures that our clients always have an edge. Because in a data-driven world, speed, accuracy, and innovation aren’t optional—it’s everything.
Learn how SS&C’s Black Diamond Wealth Platform can help benefit your firm’s strategy. Request your personal demo, call 1-800-727-0605, or email info@advent.com today.
