Moving On from the Morningstar Office Sunset

Morningstar Office is sunsetting. For enterprise wealth management firms, boutique offices, and everyone in between, this is an opportunity to reassess and reevaluate the tools that support your operations, advisors, and clients. The question is no longer what to replace; it’s about reimagining your platform strategy.

Many firms have already adopted the SS&C Black Diamond^® Wealth Platform. Enterprise firms, in particular, appreciate how Black Diamond’s fully integrated solution helps them simplify operations, scale with confidence, and elevate the client experience. More than a replacement for Morningstar Office, Black Diamond is a long-term strategic partner.

“Black Diamond quickly stood out as the best fit for our firm. Their deep understanding of our growth trajectory, coupled with best-in-class reporting, performance insights, portfolio analytics, and accounting—seamlessly integrated with our tech stack—made the decision easy. This transition to a modern and unified platform reinforces our commitment to delivering world-class wealth management, and we’re excited to leverage Black Diamond as a key partner in our ongoing success.”

          - Phillip L. Clark, President & Wealth Advisor, Omnistar Financial Group

Here’s why Black Diamond stands out:

1. Built for Complex Firms
Firms with billions in AUM, multiple custodians, and trust or family office structures require more. They need technology designed to support growth at scale.

Black Diamond delivers firm-wide oversight dashboards, configurable role-based access, and transparency across client relationships and team performance. Whether you’re streamlining back-office workflows or managing distributed advisor teams, the platform adapts to your model. CIOs, CTOs, and operations leaders can count on firm-wide consistency without sacrificing flexibility.

2. End-to-End Integration
Retiring Morningstar Office presents a rare opportunity to consolidate systems and reduce operational friction. Black Diamond connects seamlessly with the broader SS&C ecosystem, including Advent Custodial Data, Salentica^® CRM, and Risk & Compliance Intelligence, as well as leading third-party tools through an open API.

This connectivity means fewer data silos, faster workflows, and unified access across reporting, billing, trading, compliance, and client engagement. Integration isn’t just technical; it’s enterprise-level efficiency.

3. A Better Client Experience
Client expectations are rising. Digital-first experiences, mobile access, and personalized reporting are now standard.

Black Diamond empowers advisors with award-winning tools tailored to the expectations of high-net-worth and ultra-high-net-worth clients: an award-winning secure client portal, sleek mobile apps, and flexible reporting capabilities. With real-time portfolio views and customized report packaging, advisors lead more impactful conversations and build stronger relationships.

Recognition speaks volumes: Black Diamond has been honored as the best client reporting offering by the Family Wealth Report Awards (2025) and the WealthTech Americas Awards (2024 and 2025).

4. Scalable Infrastructure with Personalized Support
Growth shouldn’t compromise performance. Many retiring platforms, including Morningstar Office, were never built to support large-scale operations or enterprise-level performance demands.

Whether onboarding hundreds of accounts or generating firm-wide analytics, Black Diamond’s infrastructure is built for speed and scale. That power is matched with personalized service, including white-glove support, strategic onboarding, your own implementation team, and a dedicated relationship manager who understands the complexities of enterprise firms.

5. Transition Support Backed by the Morningstar–SS&C Alliance
The strategic alliance between Morningstar and SS&C is designed to facilitate a seamless transition to Black Diamond. This is especially important for current Office users, particularly larger firms that require hands-on onboarding, data migration, and workflow consultation.

By leveraging this alliance, enterprise firms can reduce the risk and resource strain often associated with platform transitions. Key benefits of this alliance include:

• • Waive implementation and full-historical data conversion fees. Black Diamond and Morningstar will convert all your data for you and have it available on your first day during implementation.
  • No double-pay during implementation. Once Black Diamond bills you, you will stop paying Morningstar and continue to run both platforms for months.
  • Full firm access to Morningstar Direct Advisory Suite, which provides access to the industry-leading research, analytics, and proposal tools you have been using.

Unify Operations. Elevate Experiences.

Morningstar Office served the industry well. But this is the time to move forward, modernize operations, support advisors, and create experiences clients remember. This transition isn’t just a tech swap. It’s a guided, supported transformation backed by two of the industry’s most trusted names.

Black Diamond offers the scale, flexibility, and integration required by today’s complex enterprise firms. Whether you’re preparing for M&A expansion, enhancing compliance, or looking to deliver a better digital experience, Black Diamond is the solution that meets today’s operational demands and tomorrow’s strategic vision.

Ready to make the move?

Explore how your firm can confidently transition from Morningstar Office to Black Diamond. Connect with us to learn how the Black Diamond can be tailored to your growth strategy and operational needs. Visit our strategic partner page, call us at 1-800-727-0605, email us at info@advent.com, or request your personal demo.