Acquisition establishes leading global provider with more than 10,000 customers worldwide. Advents acquisition of black diamond will accelerate our combined ability to help advisors succeed by giving them an innovative, purposebuilt platform so they can grow their practices and. Advs, a leading provider of software and services for the global investment management industry, demonstrated black diamonds postacquisition momentum at adventconnect, the companys annual user conference. Streamline the data management process from acquisition to reporting. Advents black diamond was named best client reporting solution at the ftf news technology innovation awards 2015. Advents acquisition of black diamond will accelerate our combined ability to help advisers succeed by giving them an innovative, purposebuilt. This agreement and plan of merger this agreement is made and entered into as of may 12, 2011 by and among advent software, inc. Assetmap announces integration with black diamond new partnership aims to streamline information acquisition process for advisors business wire philadelphia january 8, 2020 assetmap, a. Advs, a leading provider of software and services for the investment management industry, has signed a definitive agreement to purchase black diamond performance. San francisco, ca and jacksonville, flmarketwire 060211 advent software, inc. The deal announced yesterday between advent and black diamond.
This team supports some of our largest clients as they grow their businesses through acquisition and as they expand their footprint on our platform. Assetmap announces integration with black diamond bloomberg. The acquisition is expected to be completed during. Black diamond acquired by advent software press release. Bolstered by advent, black diamond has added resources to client support and development teams and continues to deliver new. Many are tired after a year of change, but the overall environment is one of hard work, maturity, and mutual respect. With the acquisition of black diamond, advent will. Advent to acquire black diamond performance reporting.
Black diamond is making jacksonville a cloudbased finance. Black diamond is a premier product in the registered. Advents history of acquisitions includes a chapter in which it bought. Assets on the platform more than triple since 2011 acquisition. Reed colley, black diamonds founder and ceo, will become general manager of the black diamond group, reporting to peter hess, advents president. Black diamond manages complete wealth picture with purposeful suite of. With this acquisition, global financial services software provider. Geneva and black diamond it was under petes leadership that advents geneva platform became the gold standard of the alternative investment industry, and, more recently, it was petes vision that led to the acquisition of black diamond performance reporting and the reestablishment of advent as the partner of choice in the advisory market, dimarco said in a. Until his early june departure, welling, 49, oversaw not only the explosive growth of black diamond itself but of thousands of rias using advent axys and advent apx. Black diamond is known for having a better look and feel than its competitors, both in the operation of the software and in the look of the reports. Advent software to buy black diamond performance reporting. With advent outsourcing services, you have the flexibility to customize a wide range of specific solutions and services designed to meet your unique needs. Advent software is a software company that makes software designed to automate portfolio accounting for investment management firms.
The acquisition is expected to close in the second quarter of 2011, and advent says it expects black diamondwhich has grown revenues by more than 40% over the last two years, according to the. Black diamond link leverages key features of the black diamond wealth platform to help elevate your client conversations. Enterprise associate client advocate, black diamond. Black diamond acquired by advent software harbor view advisors. Drive profitability, efficiencies and grow your business with black diamond wealth platform as the hub of your advisory business. Black diamonds clientele swells after advent merger. George remembers he had to be told three times that advent was acquiring the company before. Peter hess will take the ceo reins at advent software riabiz. Advent software has signed a definitive agreement to purchase black diamond performance reporting, a leading provider of portfolio management.
A lot has changed, but the power of the software, positive synergies, and logic of the combined entities are compelling. Advents acquisition of black diamond shocked the industry, as well as the workers at black diamond. Advent competitors, revenue and employees owler company. Advisors using advents black diamondr wealth management platform averaged close to 25% asset growth in 2014 san francisco, camarketwired jun 4, 2015 advent software, inc. As black diamond scaled its business, it became very successful, growing revenue nearly 50 percent in the two years before it attracted the attention of advent software, which acquired the company. Black diamond and its management team will lead the advisory strategy for advent software and will operate as an independent business group within advent. Boston, ma adventconnect 2011 advent software, inc. Moxy streamlines all aspects of the trading process from portfolio. Advent completes acquisition of black diamond performance. Black diamond acquired by advent software harbor view.
New partnership aims to streamline information acquisition process for advisors. Ponte vedra, fl june 1, 2011 harbor view advisors, llc served as exclusive financial advisor to black diamond performance reporting llc, a leading. Streamline the data management process from acquisition to. The black diamond platform is an awardwinning portfolio management system and client reporting solution for financial advisors and wealth managers. Increase efficiency with apx, a centralized and scalable platform for all your portfolio, relationship, and prospect data. Advents black diamond platform surpasses 500client. Salentica elements with black diamond black diamond. The rival software makers hit it off after their top execs had a february phone call. Black diamond loses serial white knight dave welling to a. Apply to intern, operations associate, retail account manager and more.
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