Jacksonville, FL and Denver, CO April 19, 2011 — Black Diamond Performance ReportingTM and Trust Company of America announced today a joint initiative to provide access to performance reporting and asset aggregation to RIAs and their clients.
“By integrating Black Diamond’s technology into Trust’s custodial platform we will provide advisors one complete system with a total view of the portfolio, while also allowing them to provide their clients online access.” said Frank Maiorano, President and CEO of Trust Company of America. “This initiative focuses on creating value for the advisor by providing them and their clients greater transparency while also focusing on the end client experience.”
Adding Black Diamond to Trust’s technology capabilities will provide RIAs with cost savings and efficiency. This partnership will allow Black Diamond’s best-in-breed technology to be embedded into Trust’s highly sophisticated all-in-one platform, with “built-in” performance reporting and aggregation. Aggregation will provide the ability to collect data from multiple custodians to power the information displayed in performance reporting, and ultimately allowing both the advisor and investor to have a full view of the assets and their performance.
Trust offers a unified custody, service and technology platform that is proven to drive economic benefit to advisors – providing them top-line, bottom line and portfolio optimization. Now with the integration of Black Diamond’s portfolio management and reporting engine, advisors and their clients will be able to access actionable, daily portfolio information through a dynamic user interface and customized performance reports right in the custodial platform. The solution is configured to each unique advisory firm and individual allowing advisors to manage portfolios, enhance workflow and communicate their unique performance story to their clients. Additionally, Black Diamond’s BlueSky platform provides extensibility to work on new technologies, such as the iPad, which will be particularly valuable for Trust’s goal of providing technology advisors can use with their clients directly.
“We are excited to partner with Trust, allowing us to contribute to the growth and success of RIAs working with their custodial platform, “ said Reed Colley, CEO and Founder of Black Diamond Performance Reporting. “Trust’s vision to provide advisors the freedom and tools they need to successfully grow and scale their practice is completely aligned with our mission to help advisors to be great and we look forward to a strong partnership.”
According to Dennis Noto, Trust’s Chief Information Officer, “the time is coming when an advisor will sit down with a client and together they will review a dynamic, real-time performance report on mobile devices, such as the iPad, while discussing investment scenarios….and that is certainly a game changer.”