Black Diamond Now Reports on Over 100,000 Accounts
Posted September 27th, 2009 by Reed ColleyKey milestone showcases Black Diamond’s fast growth and rapid adoption by independent RIAs
Black Diamond Performance Reporting announced today that it now reports daily on over 100,000 custodial accounts of independent Registered Investment Advisors (RIA), making it the leading outsourced performance reporting provider to the independent RIA marketplace*.
Reached in only its fourth year of providing comprehensive performance reporting and portfolio management solutions to independent advisors, this milestone reflects the wide acceptance of Black Diamond’s outsourced, online solutions.
“We are very gratified by the market’s reception to our innovative technology and service platform,” said Reed Colley, President and CEO of Black Diamond Performance Reporting. “With the excellent response to our industry solutions, we are experiencing strong growth and are actively building out our platform to expand our feature set and capabilities.”
“With comparable software based solutions costing more than 50% annually to acquire and operate, it’s a pretty easy decision for advisors to make the switch to Black Diamond,” noted Colley.
In other indicators of the growing demand for outsourced, web-based performance reporting and portfolio management solutions, Black Diamond was recently selected by Pershing to be a key component of their comprehensive technology platform, Netx360.
Black Diamond Solutions Group
Black Diamond is also announcing the creation of the Black Diamond Solutions group, which will provide personalized support to existing clients to help them maximize the value of their relationship with Black Diamond and to build their businesses profitably and efficiently. The group will deliver three key services to advisors including: product customization and innovation, practice management and business intelligence.
“Ultimately, our goal is to provide the resources and tools to inspire advisors to be great,” said Colley. “Our clients are telling us that Black Diamond has been a critical tool in helping them communicate throughout these challenging markets by enabling them to provide timely, customizable access to client portfolio performance and empowering them to tell their investment story.”
Black Diamond will be a key sponsor and exhibitor at the Schwab IMPACT conference to be held in San Diego, CA on September 13-16, 2009. At this prestigious industry event, Black Diamond will be showcasing their technology solutions to include a preview of the new “Blue Sky” user interface, along with the launch of the Black Diamond Solutions Group.
Tags: Black Diamond Performance Reporting, Black Diamond Solutions Group, Blue Sky user interface, Netx360, Schwab IMPACT
Reed Colley founded Black Diamond Performance Reporting in 2003 after recognizing a need for a fully outsourced, Internet-based performance reporting application designed specially for wealth managers and investment advisors. Black Diamond was built on the vision for a best-of-breed reconciliation and performance reporting application that is both intuitive and customizable. Reed currently serves as the Company’s Chief Executive Officer, a role in which he is responsible for all aspects of the Company’s operation and planning, overseeing strategic planning and product development for the Company. Prior to founding Black Diamond, Reed was a Vice President at Investment Scorecard based in Nashville, Tennessee. He holds a Bachelor of Science with degrees in Economics and Engineering Science from Vanderbilt University. While at Vanderbilt, Reed was a starting pitcher for the Vanderbilt baseball team. Reed currently lives in Jacksonville Beach, Florida with his wife and two children.