Case Study: Berman McAleer achieves over $50K annual savings and improved client experience with Black Diamond Wealth Platform

Berman McAleer - Customer Case Study

Berman McAleer, an independent wealth management firm with about $940M AUM and offices in Baltimore and New York, faced a technology challenge: their legacy PortfolioCenter system had accumulated 20 years of data and required manual reconciliation that consumed significant staff time. To modernize operations and scale their practice, they evaluated and implemented the Black Diamond Wealth Platform (implemented in 2013) to replace PortfolioCenter.

Using the Black Diamond Wealth Platform, Berman McAleer automated daily data reconciliation (previously occupying 1.5 FTEs), saving well over $50,000 per year, improving employee morale and career development, and enabling a superior client experience through the Black Diamond client portal and mobile app. The firm projects about 8,000 client logins annually, has streamlined prospect conversations with live reporting, and realized measurable operational and client-facing benefits from the Black Diamond Wealth Platform.

Berman McAleer

David Berman

CEO and Co-Founder