Update: Brooke Southall and his team at RIABiz posted an article today discussing the partnership in more detail. Read it by clicking here.
Another custodian has formed a partnership to increase its technology offerings to affiliated advisers.
Shareholders Service Group (SSG) of San Diego, Calif. announced today that it is partnering with Black Diamond Performance Reporting of Jacksonville, Fla. to deliver its industry leading, web-based portfolio management and reporting system through the SSG platform.
Click here to view the press release for the Black Diamond and SSG partnership (Yahoo! News).
With the addition of Black Diamond’s technology, SSG continues to fill the service gap between itself and the three major custodians, Schwab Institutional, Fidelity Institutional Wealth Services, and TD AMERITRADE Institutional.
One of the differences SSG features is its lack of a minimum asset requirement for advisers seeking custody services for client accounts. New advisers can begin to custody client accounts with SSG from day one, whereas a minimum asset level between $10 and $25 million is required to affiliate with the major custodians.
