SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has reported substantial progress in its strategic alliance with Morningstar, with over 400 wealth management firms opting to migrate from the Morningstar Office platform to SS&C Black Diamond® Wealth Solutions.
Of these firms, approximately 100 have finalized their implementation, and another 250 are nearing completion. This transition follows Morningstar’s announcement of the retirement of its Office platform by February 28, 2026, prompting advisory firms to seek alternative solutions.
Through this alliance, firms transitioning to Black Diamond gain access to fully integrated portfolio management, advanced reporting, and client engagement tools. The platform also offers seamless integration with Morningstar’s Direct Advisory Suite, providing trusted research, planning, and reporting capabilities.
Steve Leivent, Co-General Manager of SS&C Wealth & Investment Technologies, stated, “Our focus at Black Diamond has been on making this process as smooth and beneficial as possible for advisors. This alliance is about more than just continuity; it’s about helping firms move forward with greater efficiency and deeper integration, provided by a long-term technology partner who understands their business and their needs.”
Firms undergoing the transition receive comprehensive support, including full historical data conversion from Morningstar Office to Black Diamond on day one at no additional cost. They also benefit from hands-on onboarding support, tailored training, and no double platform fees during the migration period. Additionally, transitioning firms get integrated access to Morningstar’s Direct Advisory Suite within Black Diamond’s unified platform and preferred strategic alliance pricing, which can be locked in for five years.
Early adopters have noted improvements in operational workflows and client engagement. Lawrence Dauer, Founder and CEO of Valoir Wealth, an early transitioning firm, commented on the exceptional service received during onboarding. Carl Goodin, President of Financial Planning Associates, Inc., another recently transitioned firm, praised Black Diamond’s CRM, portfolio accounting, reporting, and billing tools, highlighting their best-in-class quality and the exemplary transition team.
Eric Dziewiontkoski, head of product for Direct Advisory Suite at Morningstar, noted the strong adoption of Direct Advisory Suite among advisors who have transitioned to Black Diamond, indicating that the integration meets their evolving needs.
SS&C Technologies Holdings, Inc., founded in 1986 and headquartered in Windsor, Connecticut, is a global provider of services and software for the financial services and healthcare industries. The company serves over 22,000 organizations worldwide.
