Envestnet Wealth Management Platform vs SS&C Black Diamond Wealth Solutions comparison

Unique

• End‑to‑end wealth management platform that acts as a “plan‑to‑execution” application, giving advisors a single access point from planning and proposal through account opening and ongoing review.
• RIA‑focused suite that includes planning, trading, reporting, proposal tools, CRM, client portal and billing in one configurable platform to streamline the full wealth management process.
• Unified Managed Account (UMA) capabilities that let RIAs consolidate SMAs and UMAs, build proposals with custom models, run comprehensive portfolio construction, and manage individual sleeves within a UMA for personalization at scale.
• Envestnet | Tamarac modules: Trading for model management, account monitoring, trading, balancing and reconciliation; Reporting for portfolio analysis, flexible client reporting and billing; plus tight integration with Envestnet’s managed account and research portal.
• Comprehensive billing stack: core platform billing with configurable billing levels and modes (advance/arrears), flexible cycles and flat/linear/tiered schedules; BillFin cloud billing for RIAs with AUM‑based fee calculation, CSV/Excel custodian files, customizable invoices, reminders/alerts, proration, reporting/analytics and fee‑splitting; and Payments for subscription, hourly and retainer fee‑for‑service billing with ACH/credit‑card collection and an advisor revenue dashboard.
• Global, multi‑currency fee management for asset managers, allowing firms to manage assets in one currency, calculate fees in another, bill clients in a third, and post GL entries in a fourth, supporting worldwide revenue operations.

Unique

• Cloud-native, award-winning wealth management suite combining the Black Diamond Wealth Platform with SS&C trust, CRM, investment management, alternative investments, unique assets and operations services into one ecosystem.
• Portfolio management & performance reporting hub with consolidated views, flexible account groupings and client-ready reporting for RIAs, broker-dealers, family offices, banks and trust companies.
• Advisor & client digital experience with a responsive web portal, native mobile apps, interactive dashboards, outside account aggregation and a secure two-way document vault (Black Diamond Vault).
• Trading & Rebalancing module integrated with the platform to monitor portfolios, align with models and execute tax-aware trades at scale as part of the unified wealth stack.
• Business Intelligence & Billing tools offering practice analytics and revenue management, powered by centralized data aggregation, reconciliation and configurable billing workflows.
• Compliance & Surveillance solution supporting regulatory compliance and monitoring with rules-based testing, surveillance and centralized case and evidence management.