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24 September 2020

Reinventing the Advisor Experience with Client View

By Bjorn Widerstedt

All too often, the typical advisor experience consists of scattered data and workflows across various online and offline products. Recognizing this problem and working to solve for it is how the Black Diamond® Wealth Platform has blossomed over the years. Most recently, the introduction of the Client View application marks another major milestone in Black Diamond’s quest to alleviate operational burden and strengthen the advisor-client connection.

Client View is a reinvented advisor command center, a centralized place to analyze and manage the entirety of a client’s financial life. This application breaks the mold by delivering a much more personalized experience to wealth technology. Broadening what historically has been an investment portfolio focus to one that encompasses the entire relationship – past, present, and future.

When thinking about client relationships, advisors know the connection encompasses more than just portfolio performance. It’s an ongoing dialogue of fact-finding, analysis, events, reactions, decision-making, and a roller coaster of emotions. The fluidity of this dialogue doesn’t call for disparate systems to own small slices of the conversation such as custodian, CRM, financial planning, risk management, trading, reporting, and so on. Manually inputting information to craft a cohesive client communication process is tough to do.

This industry, like most others, has a tendency to narrowly box in and label solutions based on some historical perception of the value such as:

  • What particular job function does it serve? Compliance officer, advisors, planner, trader, relationship manager?
  • What stage of the client lifecycle does it support? Prospecting, onboarding, planning, life-event, succession?

The reality is the traditional boxes don’t always align well with how firms are structured, or at its worst, they influence how advisory firms are structured. More than once, I’ve heard of firms building staff around a certain technology product.

The “client portal” for example, is often depicted as a separate product category or application. That is the exact opposite of the Black Diamond approach. Should the “client portal” house 5% or 95% of advisor-client communications? It’s obviously not a binary question, but I think most would agree that in terms of consumer demand and operational scale, it needs to be more than what’s occurring today. That’s why Black Diamond is solving for this by connecting advisors with their clients throughout the entire lifecycle of the relationship

Through Client View you can onboard clients, plan, aggregate, analyze, trade, report, and most importantly – communicate directly in a quick, secure, and personalized way. Integration is also a major piece of the experience. Partnerships with the best advisory tools in the space supplement the application with critical or complementary information tied to each individual client. Advisors can see custodial account details, view risk analytics metrics, open new accounts, and more.

If you would like to learn more about Client View, request a personalized demo today. You may also read about even more of the functionality found within Client View on the all-new Black Diamond Expressions blog.