Quick Overview
- 1#1: Addepar - Cloud-native platform that aggregates multi-asset class data for advanced portfolio reporting, analytics, and client communication in wealth management.
- 2#2: SS&C Black Diamond - Comprehensive cloud-based wealth management platform offering portfolio accounting, CRM, reporting, billing, and rebalancing tools.
- 3#3: Orion Advisor Tech - Integrated cloud platform providing portfolio management, trading, reporting, and performance analytics for advisors.
- 4#4: Envestnet Tamarac - Cloud solution for portfolio rebalancing, reporting, billing, and CRM tailored to wealth advisors and RIAs.
- 5#5: SEI Wealth Platform - End-to-end cloud-based platform delivering investment processing, client reporting, and account opening for wealth managers.
- 6#6: Salesforce Financial Services Cloud - Customizable cloud CRM platform with wealth management features for client relationship management, compliance, and goal planning.
- 7#7: eMoney Advisor - Cloud-based financial planning and client portal software integrated with wealth management workflows for advisors.
- 8#8: Advyzon - All-in-one cloud platform combining CRM, reporting, billing, trading, and document management for independent advisors.
- 9#9: Practifi - Salesforce-native CRM built specifically for wealth management with workflow automation and client engagement tools.
- 10#10: Wealthbox - Modern cloud CRM designed for financial advisors to manage client relationships, tasks, and communications efficiently.
These tools were selected for their robust feature sets, user experience, reliability, and value, ensuring they meet the diverse needs of wealth managers seeking to optimize workflows and client outcomes.
Comparison Table
Cloud-based wealth management software has revolutionized how advisors manage portfolios and client interactions, and this comparison table explores top tools like Addepar, SS&C Black Diamond, Orion Advisor Tech, Envestnet Tamarac, SEI Wealth Platform, and more. It outlines key features, usability, and operational benefits to help readers identify the solution that aligns with their firm’s unique needs, whether focusing on collaboration, reporting, or scalability.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | Addepar Cloud-native platform that aggregates multi-asset class data for advanced portfolio reporting, analytics, and client communication in wealth management. | enterprise | 9.6/10 | 9.8/10 | 8.7/10 | 9.2/10 |
| 2 | SS&C Black Diamond Comprehensive cloud-based wealth management platform offering portfolio accounting, CRM, reporting, billing, and rebalancing tools. | enterprise | 9.2/10 | 9.5/10 | 8.4/10 | 8.7/10 |
| 3 | Orion Advisor Tech Integrated cloud platform providing portfolio management, trading, reporting, and performance analytics for advisors. | enterprise | 9.1/10 | 9.5/10 | 8.4/10 | 8.7/10 |
| 4 | Envestnet Tamarac Cloud solution for portfolio rebalancing, reporting, billing, and CRM tailored to wealth advisors and RIAs. | enterprise | 8.6/10 | 9.2/10 | 7.9/10 | 8.1/10 |
| 5 | SEI Wealth Platform End-to-end cloud-based platform delivering investment processing, client reporting, and account opening for wealth managers. | enterprise | 8.7/10 | 9.2/10 | 7.9/10 | 8.1/10 |
| 6 | Salesforce Financial Services Cloud Customizable cloud CRM platform with wealth management features for client relationship management, compliance, and goal planning. | enterprise | 8.3/10 | 9.0/10 | 7.5/10 | 7.8/10 |
| 7 | eMoney Advisor Cloud-based financial planning and client portal software integrated with wealth management workflows for advisors. | specialized | 8.7/10 | 9.2/10 | 8.5/10 | 8.0/10 |
| 8 | Advyzon All-in-one cloud platform combining CRM, reporting, billing, trading, and document management for independent advisors. | enterprise | 8.2/10 | 8.4/10 | 8.8/10 | 8.9/10 |
| 9 | Practifi Salesforce-native CRM built specifically for wealth management with workflow automation and client engagement tools. | specialized | 8.2/10 | 8.5/10 | 7.5/10 | 7.8/10 |
| 10 | Wealthbox Modern cloud CRM designed for financial advisors to manage client relationships, tasks, and communications efficiently. | specialized | 8.2/10 | 8.4/10 | 9.1/10 | 8.0/10 |
Cloud-native platform that aggregates multi-asset class data for advanced portfolio reporting, analytics, and client communication in wealth management.
Comprehensive cloud-based wealth management platform offering portfolio accounting, CRM, reporting, billing, and rebalancing tools.
Integrated cloud platform providing portfolio management, trading, reporting, and performance analytics for advisors.
Cloud solution for portfolio rebalancing, reporting, billing, and CRM tailored to wealth advisors and RIAs.
End-to-end cloud-based platform delivering investment processing, client reporting, and account opening for wealth managers.
Customizable cloud CRM platform with wealth management features for client relationship management, compliance, and goal planning.
Cloud-based financial planning and client portal software integrated with wealth management workflows for advisors.
All-in-one cloud platform combining CRM, reporting, billing, trading, and document management for independent advisors.
Salesforce-native CRM built specifically for wealth management with workflow automation and client engagement tools.
Modern cloud CRM designed for financial advisors to manage client relationships, tasks, and communications efficiently.
Addepar
enterpriseCloud-native platform that aggregates multi-asset class data for advanced portfolio reporting, analytics, and client communication in wealth management.
Comprehensive household-level aggregation and analytics that unify disparate data sources for holistic, multi-generational wealth views
Addepar is a premier cloud-based wealth management platform that aggregates data from over 1,000 sources, including traditional and alternative investments, to deliver unified portfolio views. It offers advanced analytics, performance reporting, risk assessment, and tax optimization tools for advisors managing complex, high-net-worth client portfolios. Designed for RIAs, family offices, and private banks, it supports household-level aggregation, scenario modeling, and customizable client portals to enhance decision-making and client engagement.
Pros
- Exceptional data aggregation and normalization across all asset classes, including illiquids and alternatives
- Sophisticated analytics like performance attribution, risk modeling, and tax-alpha reporting
- Scalable, secure cloud platform with householding and client portal capabilities
Cons
- High enterprise-level pricing limits accessibility for smaller firms
- Steep learning curve for advanced features and initial data onboarding
- Customization can require developer support for complex needs
Best For
Enterprise RIAs, family offices, and private banks managing complex, multi-asset portfolios for ultra-high-net-worth clients.
Pricing
Custom enterprise pricing based on AUM, typically starting at $50,000+ annually with tiers scaling to millions for large firms.
SS&C Black Diamond
enterpriseComprehensive cloud-based wealth management platform offering portfolio accounting, CRM, reporting, billing, and rebalancing tools.
Advanced householding and composite reporting engine for multi-account aggregation and drill-down analytics
SS&C Black Diamond is a robust cloud-based wealth management platform tailored for financial advisors, RIAs, and family offices, providing end-to-end solutions for portfolio management, trading, billing, rebalancing, and client reporting. It integrates seamlessly with custodians like Schwab, Fidelity, and Pershing, delivering real-time data aggregation, advanced analytics, and customizable client portals. The software emphasizes scalability, compliance, and mobile accessibility to streamline operations and enhance client relationships.
Pros
- Comprehensive performance reporting with institutional-grade analytics and household-level views
- Seamless integrations with 200+ custodians and third-party tools for unified data
- Scalable architecture supporting firms from $500M to over $100B AUM
Cons
- Steep learning curve due to extensive customization options
- Premium pricing may be prohibitive for smaller advisory firms
- Occasional delays in implementing new feature requests
Best For
Mid-to-large RIAs and wealth management firms managing substantial AUM that require sophisticated reporting and enterprise-level scalability.
Pricing
Custom enterprise pricing based on AUM, typically starting at $15,000-$50,000/month for mid-sized firms with tiered models.
Orion Advisor Tech
enterpriseIntegrated cloud platform providing portfolio management, trading, reporting, and performance analytics for advisors.
Universal real-time account aggregation across multiple custodians without data lags
Orion Advisor Tech is a leading cloud-based wealth management platform that provides advisors with portfolio accounting, performance reporting, automated rebalancing, trading, and billing tools. It excels in aggregating real-time data from over 100 custodians, offering a unified view of client assets across multiple accounts. The platform integrates with popular CRMs like Salesforce and Wealthbox, supports mobile access, and includes advanced analytics for portfolio optimization and compliance.
Pros
- Real-time data aggregation from 100+ custodians for accurate, unified portfolio views
- Highly customizable reporting and dashboard tools with drill-down analytics
- Seamless integrations with CRMs, trading platforms, and custodians for streamlined workflows
Cons
- Steep learning curve for advanced features and custom configurations
- Pricing scales with AUM, making it less affordable for very small firms
- Limited support for non-US assets and international compliance needs
Best For
Mid-sized RIAs and enterprise advisory firms needing scalable, real-time portfolio management and reporting in a fully cloud-based environment.
Pricing
Tiered subscription based on AUM (typically $4-10 per $1,000 AUM annually), with Essential, Professional, and Enterprise plans; minimums start around $10,000/year plus implementation fees.
Envestnet Tamarac
enterpriseCloud solution for portfolio rebalancing, reporting, billing, and CRM tailored to wealth advisors and RIAs.
Unified Advisor Workstation with direct-order trading and model rebalancing engine
Envestnet Tamarac is a comprehensive cloud-based wealth management platform tailored for registered investment advisors (RIAs) and wealth managers, providing integrated tools for portfolio rebalancing, performance reporting, trading, billing, and client relationship management. It offers a unified advisor workstation that streamlines workflows from trade execution to compliance monitoring and client portal access. The solution emphasizes scalability, data aggregation from multiple custodians, and advanced analytics to support data-driven decision-making in wealth management.
Pros
- Robust integrated reporting and performance analytics with household-level views
- Automated rebalancing and trading capabilities that reduce manual errors
- Strong compliance tools and seamless custodian integrations
Cons
- Steep learning curve and lengthy onboarding process for new users
- Premium pricing that may not suit smaller firms
- Limited out-of-the-box customization without additional development
Best For
Mid-sized to large RIAs managing substantial AUM who require an enterprise-grade, all-in-one cloud platform for operational efficiency.
Pricing
Custom subscription pricing based on AUM, typically $8-15 per $1,000 AUM annually, with minimum fees starting around $20,000-$50,000 per year.
SEI Wealth Platform
enterpriseEnd-to-end cloud-based platform delivering investment processing, client reporting, and account opening for wealth managers.
Unified Managed Household (UMH) technology for holistic, cross-manager portfolio views and optimized rebalancing across entire client families.
The SEI Wealth Platform (SWP) is a comprehensive cloud-based wealth management solution designed for RIAs, broker-dealers, and bank trust departments, offering end-to-end functionality including portfolio management, trading, billing, and client reporting. It supports unified managed accounts (UMAs), direct indexing, and advanced performance analytics through a scalable, outsourced infrastructure. With seamless integrations to custodians and third-party providers, SWP enables firms to focus on client relationships while leveraging institutional-grade technology.
Pros
- Robust feature set with UMA support, direct indexing, and a vast model marketplace exceeding 1,000 strategies
- Strong compliance, risk management, and householding capabilities for complex client portfolios
- Scalable cloud architecture with excellent API integrations and dedicated support
Cons
- Higher pricing suited more for larger firms, potentially less ideal for startups
- Steep learning curve due to enterprise-level complexity and customization needs
- Limited flexibility for highly niche or bespoke workflows without additional development
Best For
Mid-sized to large wealth management firms and enterprises needing scalable, outsourced platform technology with institutional-grade tools.
Pricing
Customized asset-based pricing (typically 5-15 bps on AUM) plus setup fees, with tiered models based on services and scale; contact SEI for quotes.
Salesforce Financial Services Cloud
enterpriseCustomizable cloud CRM platform with wealth management features for client relationship management, compliance, and goal planning.
Intelligent Household 360, which aggregates household data across accounts, goals, and relationships for holistic client management
Salesforce Financial Services Cloud is a robust CRM platform tailored for financial services, including wealth management, enabling advisors to centralize client data, manage relationships, and drive personalized advice. It features householding for 360-degree client views, goal-based planning tools, and compliance management to handle complex portfolios and regulatory requirements. Built on the Salesforce ecosystem, it supports seamless integrations and AI-driven insights for scalable operations.
Pros
- Highly customizable with extensive Salesforce AppExchange integrations
- Advanced householding and relationship mapping for comprehensive client views
- Strong compliance tools and AI-powered insights like Einstein for wealth management
Cons
- Steep learning curve and complex initial setup requiring expertise
- High pricing with additional costs for customization and implementation
- Overkill for smaller firms due to enterprise-scale focus
Best For
Mid-to-large wealth management firms with complex client relationships and a need for deep CRM customization within the Salesforce ecosystem.
Pricing
Custom enterprise pricing, typically $300-$500+ per user per month, plus implementation fees and add-ons.
eMoney Advisor
specializedCloud-based financial planning and client portal software integrated with wealth management workflows for advisors.
Dynamic Cash Flow tool for real-time visualization and forecasting of client liquidity, spending, and net worth trajectories
eMoney Advisor is a cloud-based wealth management platform that empowers financial advisors with comprehensive tools for holistic financial planning, account aggregation, and client engagement. It features advanced goal-based planning, cash flow analysis, Monte Carlo simulations, and a customizable client portal accessible via emoneyadvisor.com. The software integrates with over 14,000 data sources and major custodians, enabling advisors to deliver personalized advice and scenario modeling for high-net-worth clients.
Pros
- Robust financial planning engine with advanced scenario analysis and Monte Carlo projections
- Seamless data aggregation from thousands of sources and strong CRM/custodian integrations
- Highly engaging client portal that enhances advisor-client communication and self-service
Cons
- High cost structure that may not suit smaller advisory firms
- Steep learning curve for fully leveraging advanced features
- Occasional lags in performance when handling very large portfolios
Best For
Mid-to-large wealth management firms serving high-net-worth clients who need sophisticated, data-driven planning tools.
Pricing
Custom enterprise pricing, typically starting at $10,000-$15,000 per advisor annually, with tiers based on AUM, users, and add-ons.
Advyzon
enterpriseAll-in-one cloud platform combining CRM, reporting, billing, trading, and document management for independent advisors.
Unified household aggregation and reporting that seamlessly combines data from multiple accounts and custodians into customizable client views
Advyzon is a cloud-based, all-in-one wealth management platform designed for registered investment advisors (RIAs) and financial firms, integrating CRM, portfolio accounting, performance reporting, billing, trading, and client portals into a unified system. It enables advisors to manage client relationships, monitor portfolios, generate customized reports, and handle compliance efficiently from a single dashboard. The platform emphasizes scalability for growing firms while prioritizing data security and mobile accessibility.
Pros
- All-in-one integration eliminates need for multiple vendors
- Intuitive interface with strong mobile app support
- Responsive customer service and frequent updates
Cons
- Limited advanced quantitative analytics compared to enterprise tools
- Pricing scales quickly for firms with high AUM
- Some third-party integrations require custom work
Best For
Mid-sized RIAs and advisory firms seeking a cost-effective, user-friendly platform for streamlined operations without enterprise complexity.
Pricing
Custom subscription pricing starts at around $1,200/month for small teams, tiered by users, AUM, or features, with enterprise plans quoted individually.
Practifi
specializedSalesforce-native CRM built specifically for wealth management with workflow automation and client engagement tools.
Advisor Cockpit: A real-time dashboard unifying client data, tasks, and performance metrics in one view
Practifi is a cloud-based CRM platform built on Salesforce, tailored for wealth management firms to manage client relationships, workflows, and compliance. It offers tools for client onboarding, portfolio tracking, automated reporting, and seamless integrations with custodians and financial planning software. Designed to scale with growing advisory practices, it emphasizes customization and data security in a fully cloud-hosted environment.
Pros
- Highly customizable via Salesforce architecture
- Strong compliance and workflow automation tools
- Excellent integrations with custodians and portfolio systems
Cons
- Steep learning curve for non-Salesforce users
- Pricing can be opaque and expensive for small firms
- Overkill for basic CRM needs
Best For
Mid-sized wealth management firms needing scalable, customizable CRM with deep financial integrations.
Pricing
Custom quote-based pricing, typically $150-300 per user/month depending on firm size and features.
Wealthbox
specializedModern cloud CRM designed for financial advisors to manage client relationships, tasks, and communications efficiently.
Customizable Workflow Automations that trigger tasks, emails, and updates based on client interactions
Wealthbox is a cloud-based CRM platform tailored for financial advisors and wealth managers, enabling centralized client data management, activity tracking, and workflow automation. It facilitates seamless communication through email integration, task assignments, and customizable pipelines for opportunities and referrals. With strong mobile accessibility and integrations with custodians like Schwab and Fidelity, it streamlines relationship management without the bloat of traditional enterprise software.
Pros
- Intuitive, modern interface that's quick to learn and navigate
- Robust integrations with 100+ financial tools and custodians
- Excellent mobile app for on-the-go client management
Cons
- Limited built-in portfolio management or performance reporting
- Advanced reporting and custom fields require higher-tier plans
- No native compliance or risk management tools
Best For
Solo advisors or small teams seeking a user-friendly CRM focused on client relationships and workflows rather than full portfolio operations.
Pricing
Starts at $35/user/month (Professional plan); $55/user/month (Premium); custom enterprise pricing for Teams.
Conclusion
The top three cloud-based wealth management tools reviewed exemplify excellence in distinct areas, with Addepar leading as the clear choice, thanks to its cloud-native multi-asset aggregation and advanced analytics. SS&C Black Diamond follows, offering a comprehensive suite that combines accounting, CRM, and rebalancing, while Orion Advisor Tech stands out for its integrated trading and performance tools. Together, they redefine efficiency, with Addepar setting the standard and the others providing tailored alternatives based on specific needs.
Don’t miss out—explore Addepar first to unlock its robust capabilities for portfolio reporting, client engagement, and data-driven decisions. For those with different priorities, SS&C Black Diamond and Orion Advisor Tech remain strong picks to optimize your wealth management workflow.
Tools Reviewed
All tools were independently evaluated for this comparison