Latest win continues momentum for the award-winning Black Diamond® Wealth Platform with over 1100 firms using the solution
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today announced that Silicon Valley Community Foundation (SVCF) chose the Black Diamond® Wealth Platform as their technology solution for investment administration and reporting.
With more than $8 billion in assets under management, SVCF is the largest community foundation in the world. The foundation partners with financial advisors and the high-net-worth (HNW) clients they serve to manage and facilitate philanthropy. Black Diamond will become a foundational component for the organization's reporting, investment management, and client communication needs.
"After a thorough review of competitive solutions, Black Diamond was a clear stand-out. The technology enables a global view of all assets, including alternative investments, down to the account level with the ability to produce custom reports for donors," said Bert Feuss, Senior Vice President, Investments, SVCF. "Black Diamond will streamline the collection and reconciliation of investment accounts. This will allow us to further grow in assets and investment relationships without adding significant new staff, which is important as we look to fulfill our mission."
"SVCF is an example of a unique but growing client type for Black Diamond. We are seeing an increasing need from foundations seeking front-to-back office support for growing and scaling their operations," said Bob Conchiglia, Vice President, Advisory Sales, SS&C Advent.
Black Diamond has seen significant momentum in new firm sign-ups. Today, 1110 firms use Black Diamond, an 18% increase from year-end 2016.