Case Study: Essex Financial Services achieves $125M+ in new assets and accelerated billing with Black Diamond Wealth Platform

Essex Financial - Customer Case Study

Essex Financial Services, an RIA/broker‑dealer in Essex, CT with $2.9 billion AUM, was hampered by outdated reporting technology and spreadsheet-driven client billing that created a competitive disadvantage. Seeking a single modern solution to improve client reporting, streamline billing, and present a stronger client-facing image, Essex implemented the Black Diamond Wealth Platform in 2013.

By adopting the Black Diamond Wealth Platform, Essex automated billing (reducing the cycle from several days to about four–five hours), launched a mobile client portal, and integrated third‑party systems—delivering labor cost savings, improved advisor efficiency, and stronger client relationships. The platform’s higher-quality reporting directly helped win over $125 million in new assets (including a $40M transfer) and became a notable recruiting and competitive advantage for the firm.

Essex Financial Services

Ronald Nelson

Chief Operating Officer