The Importance of Mobile Technology in Financial Management

Leslie Martin – 03/16/2023

The Importance of Mobile Technology in Financial Management

The progression of mobile technology has completely changed our daily lives. We no longer have to shop at the mall or pick up groceries because we can open our phones, browse, and easily order anything we need online. Almost everything is a few clicks away. Likewise, from a business perspective, we no longer need to send paper reports via mail, write lengthy emails, or schedule in-person meetings because we can communicate simply by pulling up apps on our phones. So it’s unsurprising that SS&C’s Black Diamond® Wealth Platform continues to make mobile capabilities a part of the core product offering to advisory firms and their clients.

The Black Diamond team believes a mobile app is an essential tool for advisors and investors to stay connected, and it is necessary to drive consistent engagement. With communication tools like the unique Timeline feature, advisors can capture memorable events on their client’s feeds. As an advisor posts information, the appropriate family member automatically receives a notification on their mobile device. This social media-style functionality helps foster additional communications, a deeper advisor-client relationship, and amplifies the value the advisor provides. Additionally, within the Client Experience portal, clients can access shared documents and reports, check balances, portfolio performance, or update their own manually tracked information on the go.

Looking toward the future, the Black Diamond team is in the research and design phase of developing additional advisor-driven tools within the mobile app to continue to drive communication. For example, the team is working on providing on-the-go transparency detailing who has communicated with an advisor and giving the advisor the means to communicate back – all within the platform ecosystem.

The need to focus on mobile-first functionality only grows as wealth transfers from generation to generation. Recognizing this need, in 2018, Black Diamond created a dedicated mobile development team, ensuring the platform would continually support and enhance the content and features within the system's mobile app. This mobile development team supports both the free native app and the custom-branded apps for over 160 unique firms. The custom branded app is an impactful way for an advisory firm to place their brand front and forward on their client's mobile devices.

Recognizing that advisors need digital communication tools to strike the right balance between high-tech and high-touch, the Black Diamond platform shows that a mobile-first approach can provide considerable value-adds for firms – all while fitting into an advisor’s day-to-day workflows. 

To learn how the SS&C Black Diamond Wealth Platform can support your advisory firm, request your personal demo, call 1-800-727-0605, or email