Bringing you live news and features since 2006 

SS&C’s Black Diamond Wealth Platform now integrated with LifeYield’s Taxficient Score

RELATED TOPICS​

LifeYield, a specialist in tax-smart, risk-smart household-level portfolio management software, has integrated with SS&C’s Black Diamond Wealth Platform. 

LifeYield’s proprietary Taxficient Score and suite of Proposal Advantage solutions will now be available through Black Diamond, an award-winning, portfolio management system and client reporting solution for financial advisors and wealth managers.
 
“The key to success in a rapidly changing industry is to embrace technology that enhances the client experience and improves outcomes.  By integrating LifeYield with Black Diamond, we provide a solution that helps advisors enhance investor’s after-tax returns and aids advisors in growing assets under management,” says Steve Leivent, SVP of Advisory Client Experience, and SS&C Advent. “With the Taxficient Score, our financial advisors will be able to provide a holistic view of a client’s portfolio by utilising Black Diamond and LifeYield together.”
 
“With an industry revolution underway, moving from individual product purchases to comprehensive wealth management, LifeYield is the first and only firm to create the Taxficient Score, a measure of household tax-smart asset location and tax efficiency,” says Mark Hoffman, CEO of LifeYield. “By integrating with Black Diamond, we are reaching another milestone to ensure all advisors have access to the tools that will help clients improve investment outcomes and reach their goals.”
 
As a result of the integration, advisors will be able to seamlessly measure their clients’ household asset location and tax efficiency. Modelled like a credit score, the Taxficient Score identifies the tax efficiency of each client account on a scale of 0 to 100. The higher the score means an investor is better-positioned for minimizing taxes, which helps them to make and keep more money and improves their ability to achieve retirement goals. The Proposal Advantage Suite provides financial advisors the ability to construct various proposals which include all accounts – 401(k), brokerage, advisory, Roth and Traditional IRA account, Social Security – and quantify the value of multi-account coordination.
 
LifeYield determines how to improve an investor’s Taxficient Score, which ultimately reduces taxes.  LifeYield quantifies the financial benefits of improved asset location in dollars and cents over 10, 15 or 20-year periods. As an example, a USD1 million household with a 50 per cent bonds/50 per cent equity allocation would realise after-tax improved results as follows: USD159,000 improvement over the first 10 years; USD325,000 over 15 years; and, USD590,000 over 20 years.

Latest News

European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by