Case Study: Essex Financial Services achieves $125M+ in new assets and faster billing with SS&C Advent's Black Diamond

Essex Financial Services - Customer Case Study

Essex Financial Services, a Connecticut-based RIA/broker‑dealer with $3.7 billion in AUM and a client retention rate above 95%, faced outdated client reporting and slow, spreadsheet-based billing that put the firm at a competitive disadvantage. To modernize reporting and streamline billing, Essex selected SS&C Advent’s Black Diamond wealth platform.

SS&C Advent implemented Black Diamond’s cloud-based reporting, client portal and integration capabilities, cutting the billing cycle from several days to about four–five hours, reducing labor costs, and delivering higher-quality, customizable client materials. The improved reporting and investor experience helped Essex win significant new business—over $125 million in new assets in the first year—while strengthening advisor recruiting and client relationships.

Essex Financial Services

Ronald Nelson

Chief Operating Officer