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Black Diamond, StratiFi Integration Announced

Together, the two firms should provide an advisor the necessary analytics and insights to effectively and more efficiently mitigate risk.

There is no shortage of integrations between third-party providers of advisor technology these days. On Wednesday StratiFi Technologies announced an integration with SS&C's Black Diamond Wealth Platform. The move is meant to boost risk analysis and compliance capabilities for registered investment advisory firms, according to a prepared statement.

While the statement provide little detail about the depth of the integrations, together, the two firms are expected to better enable advisors to more easily and efficiently manage risk on one platform. StratiFi’s PRISM Rating technology uses proprietary algorithms to analyze thousands of securities to quantify a portfolio’s correlation, volatility, tail and concentrated stock risk and in turn calculate a total risk score.

Black Diamond, the popular portfolio management and reporting platform, which is owned by SS&C Technologies Holdings, Inc., announced in October a new integration with the U.K.-headquartered decumulation phase financial planning app Timeline. In June, Black Diamond announced new custodial integrations with the advisory platforms of TD Ameritrade and Charles Schwab and reported progress on integrations with the two remaining big-four custodians—Fidelity and Pershing.

StratiFi, which has offices in San Francisco and New York, won a 2019 Industry Award for the top Compliance Technology for Financial Advisors. The financial technology startup had raised $7 million in a Series A funding round just a year before in May 2018.

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