Black Diamond Adds Former Schwab Executive to Senior Leadership Team
Posted January 27th, 2010 by Reed ColleyFormer Schwab Advisor Services executive, David Welling, brings RIA industry expertise and a strong growth and innovation track record to fast-growing performance reporting and portfolio management technology firm as Chief Solutions Officer
Black Diamond Performance Reporting announced today that RIA industry veteran, David Welling, has joined the firm as Chief Solutions Officer. Mr. Welling, recently a Vice President at Schwab Advisor Services, will oversee sales, marketing, product management and client solutions and will be a member of the Black Diamond Senior Management Team.
“Dave brings a wealth of knowledge of the independent advisor industry as well as deep experience leading new ventures, building successful organizations and delivering strong growth,” said Reed Colley CEO and Founder of Black Diamond. “Dave shares our passion for serving advisors and helping advisors achieve their visions of being great. We are thrilled to have Dave and his unique blend of strategic thinking and execution experience as a member of our Senior Management Team,” added Colley.
Welling joins Black Diamond after twelve years at Schwab in various leadership positions in strategy, marketing, practice management and general management. While at Schwab, Welling was instrumental in leading many of the innovations over the last decade in the RIA industry, including Schwab’s retail referral strategy to RIAs and spearheading the creation of one of the industry’s most respected practice management and business consulting offerings. As head of the practice management group at Schwab he worked directly with some of the largest and most successful advisory firms in the industry helping them optimize growth, productivity and profitability. Prior to Schwab, Welling was a Consultant at Bain & Company in San Francisco after receiving his MBA from the Stanford Graduate School of Business.
“Black Diamond is a true innovator with unique core technology and an intense focus on serving advisors and helping them build successful businesses,” said Welling. “Advisors in both periods of growth and times of turbulence are looking for ways to deepen their relationships with their clients and improve the productivity and scalability of their businesses. I’ve witnessed first-hand how Black Diamond helps advisors overcome the potential paradox between delivering high-touch client service and improving firm productivity. Black Diamond enables advisors to deliver transparent, real-time performance information to their clients while also improving their own workflow and productivity,” added Welling. “I am looking forward to working with the Black Diamond team and continuing to serve the independent advisor industry.”
“We view the business of serving advisors as a collaborative community. We believe in building partnerships with advisors as well as with custodians and other technology providers so we can jointly help advisors capture the tremendous opportunity in front of them. Dave will play a key role in making this happen as our Chief Solutions Officer,” noted Colley. “Investing in experienced industry talent to help our clients better navigate the markets and take advantage of opportunities is yet another example of our mission to transform the industry by enabling advisors to be great,” concluded Colley.
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.