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Black Diamond and Schwab Improve Integrations

Advisors opening service tickets or changing clients' addresses will be among those benefiting from the improvements, according to the announcement.

Black Diamond is expanding its Schwab Advisor Center integrations, according to an announcement by the fintech firm. The latest updates include improved processing of management fees, easier-to-update address changes, an improved service ticket opening feature and straight-through processing of trades.

Advisors using Black Diamond can now send management fees directly to Schwab and change client addresses within Black Diamond. Advisors in need of service from Schwab will be able to open tickets within Black Diamond, and advisors placing trades on Black Diamond Rebalancer or the Financial Information Exchange network will see trade speeds improve.

“The recent integration enhancements with Black Diamond allow advisors who use Schwab to streamline their workflows further and complete most tasks online,” said Kartik Srinivasan, managing director of digital product management for Schwab Advisor Services, in a statement. “These integrations align well with our continuing goal to provide advisors with the tools they need to enhance the advisor experience, as well as the experience of their clients.” 

“We are continually partnering with Schwab to build on our long-standing integration agreement,” added Steve Leivent, SVP and co-general manager of SS&C Advent, Black Diamond’s parent company. “These latest enhancements will save advisors time and improve accuracy so they can continue building on their client relationships.”

Black Diamond and Schwab already support digital account opening, single sign-on and money transfer capabilities. 

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