Advent Software Inc. yesterday announced the full integration of its Black Diamond portfolio management, reporting and rebalancing platform with Schwab's OpenView Gateway service.
The Charles Schwab Corp.'s technological offerings continue to gain momentum, as InvestmentNews reported in early July, and Schwab's collaboration with Black Diamond will provide mutual clients access to intraday data from the Schwab Advisor Center without leaving the Black Diamond platform.
They currently share around 130 clients, according to Dave Welling, senior vice president and general manager of Black Diamond.
During a pilot program, the companies received positive feedback from the advisers who used the system, Mr. Welling said. “Advisers just want to see the relevant data native to the platform that has their workflow,” he said.
The Schwab-Advent partnership was initiated in October of last year and has since strengthened with the successful implementation of Black Diamond.
“The new news is that the product is now generally available,” Mr. Welling said.