Legent Clearing Selects Black Diamond as Portfolio Management and Performance Reporting Platform

JACKSONVILLE, Fla. and OMAHA, Neb., Sept. 1 /PRNewswire/ -- Black Diamond Performance Reporting™ and Legent Clearing announced today a joint program to provide Black Diamond's industry leading, web-based portfolio management and reporting platform to Legent's growing list of institutional and retail brokerage firms.

"Our correspondent-led Steering Committee asked Legent to pursue an unbundled, performance reporting solution as a means to satisfy the needs of our clients and to assist in retaining and recruiting registered sales professionals," said Ray Maratea, President of Legent Clearing.   "After exploring several options, we believe that Black Diamond offers a high quality, economical solution and reinforces Legent's commitment to helping our correspondents grow profitably, while meeting the needs of their clients and sales forces."

Black Diamond's web-based, outsourced portfolio management and reporting platform enables advisors to access, take action on and deliver daily portfolio information through a dynamic user interface and performance reports. Black Diamond configures to each unique firm and individual role so advisors can manage portfolios, enhance workflow and communicate their unique performance story to their clients.

"We are excited to partner with Legent Clearing and contribute to the growth and success of their correspondent clearing clients," said Reed Colley, CEO and Founder of Black Diamond Performance Reporting.  "We look forward to helping Legent and their clients on their path to greatness by providing a scalable service and technology platform that will streamline many aspects of their client's back offices, while providing daily performance reporting information in a user-friendly, web-based application."  

Legent's correspondent clearing clients are very optimistic about the new Black Diamond partnership.  "We have viewed the Black Diamond platform and are excited about the opportunities this association brings for the investment advisors we have been speaking with as well as their clients.   We look forward to using Black Diamond as a stepping stone in growing our product lines and our overall business model," said Frank Salvatore, Managing Director, Brokerage and Sales of WestPark Capital, one of Legent Clearing's correspondent clients that is actively recruiting new brokers.

Additionally, Legent Clearing client Brad Szczecinski, Director of the Private Client Group at Anderson & Strudwick said, "Having direct feeds from our client accounts at Legent to the Black Diamond reporting platform streamlines the reporting process, helps ensure its accuracy and strengthens our position with our clients as a holistic wealth manager.  Thank you to Legent for embracing this unique, cutting edge platform and responding to our request to add this to your service offerings."

Legent is also experiencing strong demand for their clearing services, driven by an advanced technology offering.  "Adding Black Diamond to our technology suite will enable brokerage firms working with us to be more efficient, grow profitably, enhance the services they provide to their clients, all while delivering state of the art performance reporting information," concluded Maratea.

About Black Diamond Performance Reporting

Black Diamond is a leading provider of web-based, outsourced portfolio management and reporting platforms to independent advisors.  Our mission is to support and cultivate advisor greatness through providing the best combination of technology, service and innovation in the industry.  Founded in 2003, Black Diamond offers a powerful tool for advisors and wealth managers by providing unbiased, outsourced investment performance reporting. The Black Diamond solution is a highly configurable, Web-based performance reporting solution that provides accurate, timely and meaningful data allowing advisors and wealth managers to tell their investment performance story.  Using our proprietary reconciliation engine, Black Diamond reconciles client data on a daily basis so advisors and wealth managers always have the most current reporting information available at their fingertips.  Black Diamond has been recognized as a top ten fastest growing firm in Northeastern Florida for the past two years and one of the top three of the Best Places to Work in Jacksonville by the Jacksonville Business Journal.  Black Diamond Performance Reporting™ is headquartered in Jacksonville, Florida, with offices in New York, San Francisco, Philadelphia and Dallas.  www.blackdiamondreporting.com

About Legent Clearing:

Legent Clearing provides reliable execution and clearing services, business development support, and competitive pricing to retail and institutional brokerage firms nationwide.  Our products and services suite includes modern trading and communications technology, expansive market data, global research, comprehensive portfolio management tools, numerous cash management options, sophisticated advisory/wealth management services and education and training assistance to enhance sales productivity and stimulate asset accumulation. Legent Clearing is committed to helping our correspondents establish business plans and promotional strategies that will allow their firms to become and remain profitable in highly competitive environments.   In fact, we've helped some small and start-up firms become market leaders by providing custom-fit technology solutions and best of breed products and services that foster increased revenues.  www.legentclearing.com

SOURCE Legent Clearing