Case Study: Fairway Wealth Management achieves rapid growth and halves quarterly reporting time with SS&C Technologies' Black Diamond platform

Black Diamond ® supports rapid growth at Fairway Wealth Management

Fairway Wealth Management, a Cleveland-based multi-family office managing $750 million in assets, was struggling with slow, manual reconciliation and reporting as it grew. The firm, which typically manages complex client relationships with multiple accounts and custodians, needed a portfolio platform that could consolidate data and avoid hiring additional staff. They chose the Black Diamond wealth platform from SS&C Technologies (SS&C Advent) for its cloud-based, client-facing reporting and outsourced reconciliation.

SS&C Technologies implemented Black Diamond to provide daily outsourced reconciliation, consolidated reporting, and online client access, removing the need for software installation and much manual work. As a result Fairway added about 35 new clients and nearly doubled assets in three years, cut quarterly reporting time from roughly six weeks to about three weeks, reduced operational staffing requirements, and increased client transparency (about a quarter of clients access Black Diamond directly).

Fairway Wealth Management

Mark Weiskind

Co-founder, COO, and Managing Director