A strategic partnership announced Nov. 12 between Future Capital and SS&C’s Black Diamond Wealth Platform is intended to enable advisors to efficiently manage held-away retirement assets as part of a comprehensive wealth management approach.
Through this collaboration, Future Capital’s recently launched Construct platform will be integrated into Black Diamond, providing more than 2,700+ Wealth Management firms with direct access to manage their clients’ held-away 401(k) assets.
“Our partnership with SS&C Black Diamond represents a significant step forward in our mission to empower advisors with the tools they need to provide truly holistic wealth management,” said Jay Jumper, Founder and CEO of Chattanooga, Tenn.-based Future Capital. “By integrating Construct into the Black Diamond platform, we’re making it faster and easier for advisors to efficiently manage all of their clients’ assets in one place, including complex held-away retirement accounts.”
The partnership enables seamless data flow between the two platforms and will allow advisors to access the Future Capital Solution directly from Black Diamond. Advisors will have direct access to Future Capital’s advisor portal to manage held-away assets. At the same time, clients can view their accounts via the Black Diamond Client Portal, ensuring a fully integrated experience.
According to the Envestnet Trends Report 2023-24, for households with between $100,000 to $2 million of liquid net worth, 56% of their assets are held in retirement accounts, often out of reach for advisors. Through this new partnership, Future Capital, a tech-enabled registered investment advisor (RIA) specializing in personalized retirement solutions, aims to bridge this gap by providing advisors with tools and resources needed to manage retirement assets as part of a holistic wealth management strategy.
Construct, which Future Capital launched in June, combines advanced workplace asset management tools and expert support into an easy-to-use platform. The solution enables advisors to build custom allocations and exercise full discretion over clients’ 401(k) assets without triggering custody or requiring additional technology or staffing.
“At SS&C Black Diamond, we are committed to delivering tools which enable advisors to elevate their service offerings,” said Eli George, Vice President of Wealth Strategy, Data Services & Partnerships at SS&C Advent. “Integrating Future Capital’s technology into our platform provides users with an efficient, seamless way to manage retirement assets, driving operational efficiency and deeper client relationships.”
More information about the partnership is available at futurecapital.com/partnerships/blackdiamond/overview.
SEE ALSO:
• Future Capital Enters Held-Away 401(k) Assets Market with New Digital Solution