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

Black Diamond ® helps Essex Financial compete more effectively and win

Essex Financial Services, a Connecticut-based RIA/broker-dealer with $3.7B AUM, faced inefficient spreadsheet-based billing and reporting that left the firm at a competitive disadvantage with high-net-worth prospects. Seeking a single technology solution to modernize client reporting and streamline billing, the firm selected SS&C Technologies’ Black Diamond wealth platform to improve presentation quality and operational efficiency.

SS&C Technologies implemented Black Diamond’s cloud-based reporting, investor portal, and integration capabilities, cutting billing from several days to about four–five hours, reducing labor costs, and delivering state-of-the-art, highly customizable client materials. The improved reporting and portal helped win new business (including a $40M account and other wins that contributed to over $125M in assets in the first year), strengthened advisor recruiting, and boosted client retention and operational efficiency.

Essex Financial Services

Ronald Nelson

Chief Operating Officer