Client-Centric Growth | How Black Diamond & Nitrogen Positively Impact Advisory Excellence
Justin Wayne – 12/07/2023
For an advisory practice, one of the key metrics firms often focus on is efficiently growing its client base. To do this, advisors require a technology stack that will help them achieve that growth and enable them to scale with their existing resources. Advisors need technology that works throughout the entire lifecycle of a client, from engaging new leads, generating proposals, onboarding new clients, and delivering ongoing service.
Combining SS&C’s Black Diamond® Wealth Platform and Nitrogen introduces advisors to a powerful tech stack that helps throughout this process. The deep integration between these advisor solutions ensures the often time-consuming and manual prospecting and onboarding workflows are more scalable. Recently, the teams enhanced this workflow by releasing the new Black Diamond CRM that enables additional functionality. For example, advisors can leverage common workflows between the two systems, such as:
- Lead Generation – Firms can leverage the Nitrogen Lead Generation Questionnaire on a website, social media, or newsletter. When a new prospect fills out the form, the integration to the Black Diamond CRM automatically creates that prospect profile within the CRM, then syncs their Risk Score and current portfolio score and generates a task to follow up with the lead.
- Prospect Engagement – The Black Diamond CRM Workflow Manager can help firms manage the process of engaging with prospects through custom workflows unique to each firm. Advisory firms can leverage these workflows to set up meetings and generate proposals from Nitrogen. Once generated, the prospect’s proposed portfolio score automatically syncs to the Black Diamond CRM.
- Client Onboarding – In the Black Diamond CRM, advisors can leverage additional integrations like DocuSign to have the Nitrogen proposal or IPS signed by the client and then open accounts at the custodian. Advisors can also automatically set up the prospect and related contacts on the Black Diamond platform as clients with the click of a button when the prospect converts.
- Client Implementation – Advisors can implement the proposed portfolio from Nitrogen through the Black Diamond Rebalancer and then leverage Back Diamond’s aggregation and reporting to feed those assets back for ongoing monitoring and evaluation.
- Client Servicing - For ongoing client communications, advisors can leverage the integration between Nitrogen and Black Diamond to keep the portfolio score current through regular investment data syncs. Nitrogen then feeds the client and portfolio risk scores back to Black Diamond in areas such as the Client Experience portal, Client View, and the CRM for advisors to monitor and for clients to better understand their portfolio.
Integrations dramatically extend and enhance the value of Black Diamond as the hub of an advisory business. The strong integration between Nitrogen and Black Diamond helps empower firms to accelerate their growth to enhance the overall client experience.