Software to Replace Your Investment Advisor Compliance Checklist

SmartRIA today announced an integration with SS&Cs’ Black Diamond Wealth Platform to significantly streamline the surveillance of compliance activities for well-established RIA firms.

The direct connection between the two systems allows RIA firms to use Black Diamond data within SmartRIA. The shared data creates a 360-degree view of client households, which facilitates surveillance of mission critical compliance issues. These can include: client annual reviews, trading inactivity and high account cash balance alerts, viewing and reporting on accounts by discretionary/non-discretionary status and other complex compliance oversight issues.

The simplified compliance experience created by the Black Diamond and SmartRIA integration is timely as wealth management firms continue to be fined for compliance deficiencies stemming from inefficient systems and incomplete surveillance of client data and interactions.

Wealth management firms are under increasing pressure to adopt technology solutions that simplify their compliance workflows while assuring they’re better prepared for an audit. The announcement of this integration presents an exceptional technology solution for alleviating that pressure.

“Advisors need the latest technology and powerful tools to help reduce compliance risk,” said Eli George, Senior Director, Solutions Management, SS&C Technologies. “A solution like SmartRIA is the type of cutting-edge technology that keeps us on the leading edge of innovation and provides our clients a competitive advantage.”

“We are pleased to integrate SmartRIA with Black Diamond, allowing our mutual customers to address critical compliance obligations with minimal setup and training. Early feedback has been very positive, and we look forward to a long relationship with Black Diamond that drives significant value for our customers,” said Mac Bartine, CEO of SmartRIA.

The integration, developed by SmartRIA with the support of Black Diamond and initial beta users, has been operational for over six months, and is available to all firms as of today.

The Black Diamond Platform is an award-winning portfolio management system and client reporting solution for financial advisors and wealth managers. Black Diamond strengthens connections with clients and prospects while managing relationships with more than 1,400 advisors, wealth managers, IBDs and aggregators. Black Diamond looks ahead at industry changes by providing a purposeful suite of tools from portfolio management to reporting to client communications and more that allows advisors to manage their client’s complete wealth picture.

For more information on the Black Diamond Wealth Platform, visit

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