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Black Diamond's gutsy CRM play is a self-branded product built on a Salesforce chassis that undercuts the giant on price and simplicity and converts to Salentica with flip of a switch

The Jacksonville RIA software unit will sell to its own 2,000 firms plus Advent's Axys and APX users, betting that most customization capability is overkill for firms with fewer than 10 advisors.

Author Oisin Breen November 10, 2023 at 5:48 AM
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Justin Wayne: We really saw the opportunity to hit on a new segment of the market.
Brooke Southall and Keith Girard contributed to the editing of this article.


Matt Braatz

Matt Braatz

November 10, 2023 — 6:20 AM
Audrea Rice Robbins

Audrea Rice Robbins

November 10, 2023 — 9:17 PM
Our firm currently uses Salentica Engage and we are not completely happy with it. It can be customized to your firm, but only within certain parameters. It doesn't come with many of the basic features that an out of the box CRM already has built in. Maybe our view comes from some of our previous CRM's features we were accustomed to as well as some of the popular CRM's we have recently reviewed. It is also very expensive. I've reviewed MANY CRM's lately and none charge for Data. Salentica does. And it has gotten very expensive. In fact, we don't send email through the system anymore because they charge for the data to hold an image of every email sent. Imagine if the program could actually do letters, etc within the software itself. Also if you are considering Salentica, know that you cannot run any reports, because we were told that section doesn't work within the software (we learned this after trying to use it repeatedly without any luck). You can however run a "view" but, after you filter out what you need, the only thing you can do with that data is export it out of Salentica to Excel. Any letters or other actions you need to use the data for will have to be handled outside of the software. So lets say you were sending out a letter or something as basic as just needing to put a note on a group of clients and create an action/to-do... You cannot do this. You can only enter in notes/actions/to-do's manually for each client. We run into this issue when we simply need to add a note for a certain group of clients regarding something we have done for them and need a record of it. Salentica only really holds the client's basic information and all you can do is export it for use outside the software.

Related Moves

July 3, 2020 at 1:12 AM

Addepar hires Advent genius then launches 'Advent Converter' to court the RIAs still on Axys and APX ; PortfolioCenter 'easy button' comes next

The tactic by the Mountain View, Calif. firm and Advent co-founder and code avatar Steve Strand comes a decade after Orion, Black Diamond and Tamarac began feasting on the legacy corpses, but Addepar insists meat remains on the bone.

March 3, 2020 at 5:05 PM

Pete Giza and Damon Deru go for Holy Grail of portfolio rebalancing with software that shuffles stocks, bonds... and asset classes; Believe it?

The RedBlack and TradeWarrior executives see old systems as 'archaic' yet know that the Black Diamonds, Morningstars, Orions and Tamaracs see rebalancing as a loss leader

June 11, 2019 at 9:49 PM

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SS&C Salentica
CRM Software

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