Quick Overview
- 1#1: Orion - Integrated platform for portfolio management, trading, billing, and reporting with advanced automation for investment distributions to clients.
- 2#2: SS&C Black Diamond - Full-suite wealth management software providing CRM, portfolio accounting, performance reporting, and precise household distribution calculations.
- 3#3: Envestnet - Wealth technology platform enabling investment distribution, advisor servicing, model marketplace access, and unified account management.
- 4#4: Addepar - Advanced investment analytics and data platform for aggregating complex portfolios and modeling investment distributions accurately.
- 5#5: AssetMark - Comprehensive solution for RIAs offering investment strategies, discretionary trading, and streamlined client distribution processing.
- 6#6: Altruist - Custodial and software platform for RIAs with automated rebalancing, low-cost execution, and efficient handling of investment distributions.
- 7#7: TradePMR - Turnkey asset management platform with portfolio construction, model delivery, trading, and integrated billing for distributions.
- 8#8: Clearwater Analytics - SaaS-based investment book of record for reconciliation, accounting, and detailed reporting on investment income distributions.
- 9#9: eMoney Advisor - Client portal and planning software that integrates investment tracking, cash flow analysis, and distribution forecasting.
- 10#10: PortfolioShop - Cloud portfolio management system for RIAs featuring reporting, billing, performance measurement, and distribution management.
Tools were chosen based on a focus on core functionalities (automation, reporting, and client management), ease of use, reliability, and overall value, ensuring they cater to both entry-level and sophisticated wealth management operations.
Comparison Table
Investment distribution software is vital for optimizing client portfolio management, and this comparison table explores key tools like Orion, SS&C Black Diamond, Envestnet, Addepar, AssetMark, and more—equipping readers to understand differences in features, usability, and integration to find their ideal solution.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | Orion Integrated platform for portfolio management, trading, billing, and reporting with advanced automation for investment distributions to clients. | enterprise | 9.7/10 | 9.8/10 | 9.3/10 | 9.5/10 |
| 2 | SS&C Black Diamond Full-suite wealth management software providing CRM, portfolio accounting, performance reporting, and precise household distribution calculations. | enterprise | 9.2/10 | 9.5/10 | 8.4/10 | 8.7/10 |
| 3 | Envestnet Wealth technology platform enabling investment distribution, advisor servicing, model marketplace access, and unified account management. | enterprise | 8.7/10 | 9.2/10 | 7.6/10 | 8.1/10 |
| 4 | Addepar Advanced investment analytics and data platform for aggregating complex portfolios and modeling investment distributions accurately. | enterprise | 8.6/10 | 9.4/10 | 7.8/10 | 8.0/10 |
| 5 | AssetMark Comprehensive solution for RIAs offering investment strategies, discretionary trading, and streamlined client distribution processing. | enterprise | 8.2/10 | 8.7/10 | 7.6/10 | 7.9/10 |
| 6 | Altruist Custodial and software platform for RIAs with automated rebalancing, low-cost execution, and efficient handling of investment distributions. | specialized | 8.4/10 | 8.6/10 | 9.1/10 | 9.0/10 |
| 7 | TradePMR Turnkey asset management platform with portfolio construction, model delivery, trading, and integrated billing for distributions. | enterprise | 8.4/10 | 9.2/10 | 7.6/10 | 8.0/10 |
| 8 | Clearwater Analytics SaaS-based investment book of record for reconciliation, accounting, and detailed reporting on investment income distributions. | specialized | 8.2/10 | 8.7/10 | 7.4/10 | 7.8/10 |
| 9 | eMoney Advisor Client portal and planning software that integrates investment tracking, cash flow analysis, and distribution forecasting. | enterprise | 8.4/10 | 9.1/10 | 7.6/10 | 7.9/10 |
| 10 | PortfolioShop Cloud portfolio management system for RIAs featuring reporting, billing, performance measurement, and distribution management. | specialized | 7.2/10 | 7.5/10 | 6.8/10 | 6.9/10 |
Integrated platform for portfolio management, trading, billing, and reporting with advanced automation for investment distributions to clients.
Full-suite wealth management software providing CRM, portfolio accounting, performance reporting, and precise household distribution calculations.
Wealth technology platform enabling investment distribution, advisor servicing, model marketplace access, and unified account management.
Advanced investment analytics and data platform for aggregating complex portfolios and modeling investment distributions accurately.
Comprehensive solution for RIAs offering investment strategies, discretionary trading, and streamlined client distribution processing.
Custodial and software platform for RIAs with automated rebalancing, low-cost execution, and efficient handling of investment distributions.
Turnkey asset management platform with portfolio construction, model delivery, trading, and integrated billing for distributions.
SaaS-based investment book of record for reconciliation, accounting, and detailed reporting on investment income distributions.
Client portal and planning software that integrates investment tracking, cash flow analysis, and distribution forecasting.
Cloud portfolio management system for RIAs featuring reporting, billing, performance measurement, and distribution management.
Orion
enterpriseIntegrated platform for portfolio management, trading, billing, and reporting with advanced automation for investment distributions to clients.
Household Distribution Manager, enabling unified cash flow and withdrawal planning across multiple accounts with tax optimization.
Orion is a comprehensive portfolio management platform designed for financial advisors, offering robust tools for investment accounting, reporting, trading, and performance analysis. It excels in investment distribution through advanced features like automated rebalancing, tax-efficient cash flows, and household-level distribution planning. With seamless integrations and scalable architecture, it supports RIAs in managing complex client portfolios efficiently.
Pros
- Highly customizable reporting and analytics for precise distribution tracking
- Automated trading and rebalancing engine that optimizes distributions
- Strong integrations with custodians and CRMs for streamlined workflows
Cons
- Steep initial learning curve for advanced distribution modules
- Pricing can be prohibitive for very small firms under $100M AUM
- Mobile app lacks some desktop-level distribution functionalities
Best For
Mid-to-large RIAs and wealth managers handling high-volume, complex investment distributions across householded accounts.
Pricing
Custom pricing based on AUM (typically $3-10 per $1M AUM) or flat fees starting at $10,000/year for Essentials tier, scaling to Enterprise plans.
SS&C Black Diamond
enterpriseFull-suite wealth management software providing CRM, portfolio accounting, performance reporting, and precise household distribution calculations.
Advanced householding and cross-custodian data aggregation for unified portfolio distribution views
SS&C Black Diamond is a robust wealth management platform tailored for investment advisors, RIAs, and family offices, specializing in portfolio accounting, performance reporting, and client relationship management. It enables seamless investment distribution through advanced trading, rebalancing, billing, and customizable client portals that facilitate product distribution and investor engagement. The software integrates CRM, compliance tools, and multi-custodian data aggregation to streamline operations for distributing diverse investment portfolios.
Pros
- Comprehensive multi-custodian aggregation and householding for accurate portfolio views
- Powerful performance reporting with customizable dashboards and drill-down analytics
- Integrated trading, rebalancing, and billing modules that enhance distribution efficiency
Cons
- Steep learning curve due to extensive feature set
- High implementation costs and AUM-based pricing
- Limited flexibility for small firms without significant assets
Best For
Mid-to-large RIAs and wealth managers handling complex, multi-custodian portfolios who need enterprise-grade tools for investment distribution and client reporting.
Pricing
Subscription-based pricing typically 25-50 basis points on AUM, with minimum fees and custom enterprise quotes; implementation costs apply.
Envestnet
enterpriseWealth technology platform enabling investment distribution, advisor servicing, model marketplace access, and unified account management.
Envestnet Marketplace providing one-stop access to over 1,000 pre-vetted investment strategies and managers for seamless distribution.
Envestnet is a comprehensive wealth management platform that specializes in investment distribution, enabling financial advisors, RIAs, and institutions to access, select, and distribute a wide array of investment products efficiently. The software integrates portfolio management, trading, reporting, and compliance tools with major custodians like Schwab and Fidelity, streamlining the distribution process for model portfolios, SMAs, and ETFs. It supports enterprise-scale operations with data aggregation and advanced analytics for informed distribution decisions.
Pros
- Extensive integrations with custodians and 1,000+ investment managers for broad distribution options
- Robust reporting, compliance, and portfolio analytics tools
- Scalable platform suitable for high-AUM enterprises
Cons
- High cost structure limits accessibility for smaller firms
- Steep learning curve and complex interface requiring significant training
- Customization and implementation can be lengthy and resource-intensive
Best For
Enterprise RIAs, broker-dealers, and wealth management firms handling large asset volumes that need integrated distribution across diverse investment products.
Pricing
Asset-based pricing typically 10-30 basis points on AUM, with custom enterprise quotes; minimums often apply for smaller users.
Addepar
enterpriseAdvanced investment analytics and data platform for aggregating complex portfolios and modeling investment distributions accurately.
TxOS transaction processing engine for accurate handling and reconciliation of illiquid alternative investments
Addepar is a comprehensive wealth management platform designed for aggregating, analyzing, and reporting on investment portfolios across public and private assets. It excels in providing accurate performance attribution, risk analytics, and customizable client reports, making it suitable for distributing investment insights to advisors and high-net-worth clients. The platform integrates data from over 1,000 sources, enabling seamless portfolio oversight and strategic distribution decisions in complex investment environments.
Pros
- Robust data aggregation from thousands of sources including alternatives
- Advanced analytics for performance, risk, and attribution
- Scalable reporting and client portal for efficient distribution
Cons
- Steep learning curve and complex initial setup
- High enterprise-level pricing not ideal for small firms
- Limited out-of-the-box customization for niche distribution workflows
Best For
Large RIAs, family offices, and wealth managers handling complex, multi-asset portfolios requiring precise data-driven distribution.
Pricing
Custom enterprise pricing based on AUM, typically 5-15 basis points with minimums starting at $50,000+ annually.
AssetMark
enterpriseComprehensive solution for RIAs offering investment strategies, discretionary trading, and streamlined client distribution processing.
Unified Wealth Platform (Advisor360) that seamlessly combines account opening, trading execution, and household-level reporting for end-to-end investment distribution.
AssetMark is a comprehensive wealth management platform that serves as an investment distribution solution for financial advisors, offering integrated technology for portfolio construction, trading, rebalancing, and client reporting. It provides access to a wide range of investment vehicles including SMAs, model portfolios, ETFs, and mutual funds, supported by custodial services through Pershing. The platform streamlines distribution processes with tools for proposals, onboarding, compliance monitoring, and performance analytics, enabling advisors to efficiently manage and grow client assets.
Pros
- Robust integration of technology, investments, and custodial services in one platform
- Extensive library of pre-built model portfolios and third-party strategies for quick distribution
- Advanced reporting and client portal tools that enhance advisor-client interactions
Cons
- Steep learning curve for new users due to the platform's depth and customization options
- AUM-based pricing can be costly for smaller advisory firms
- Limited flexibility for highly customized investment strategies outside their ecosystem
Best For
Mid-sized RIAs and independent advisors seeking a turnkey platform to scale investment distribution without managing multiple vendors.
Pricing
Primarily AUM-based fees (typically 20-40 basis points depending on assets under management), plus custodial fees (~15-25 bps) and transaction costs; custom quotes available for enterprise users.
Altruist
specializedCustodial and software platform for RIAs with automated rebalancing, low-cost execution, and efficient handling of investment distributions.
Accessible direct indexing for advisors, allowing personalized tax-efficient portfolios at scale without high minimums
Altruist is a modern brokerage and custody platform tailored for Registered Investment Advisors (RIAs), enabling efficient investment distribution through automated trading, model portfolio delivery, and account management tools. It supports commission-free trades, direct indexing, and unified managed households to streamline operations for advisors distributing investments to clients. Designed as a tech-forward alternative to legacy custodians, it emphasizes low costs and seamless digital workflows.
Pros
- Zero-commission trading and low platform fees reduce costs significantly
- Intuitive dashboard and client portal enhance usability for advisors
- Advanced direct indexing and automated rebalancing tools for sophisticated distribution
Cons
- Limited mutual fund and alternative investment options compared to larger custodians
- Younger platform with fewer third-party integrations and API endpoints
- Custody scale best suited for mid-sized RIAs rather than ultra-high AUM firms
Best For
Mid-sized RIAs seeking a cost-effective, tech-driven platform for distributing model portfolios and direct indexing strategies to clients.
Pricing
No trading commissions; platform fee of 10 bps on AUM (tiered down for larger balances), with free advisor tools and client accounts.
TradePMR
enterpriseTurnkey asset management platform with portfolio construction, model delivery, trading, and integrated billing for distributions.
Integrated Model Marketplace for seamless access and delivery of third-party model portfolios
TradePMR is a robust investment distribution platform designed for RIAs, specializing in model portfolio delivery, unified managed accounts (UMAs), and direct indexing. It provides advanced trading, automated rebalancing, performance reporting, and a model marketplace for accessing third-party strategies. The software integrates with multiple custodians and supports white-label client portals for seamless distribution.
Pros
- Extensive model marketplace and UMA support for diverse investment strategies
- Powerful direct indexing and tax-efficient trading tools
- Comprehensive reporting and compliance features with custodian integrations
Cons
- Steep learning curve for non-technical users
- Pricing can be costly for smaller advisory firms
- Limited native mobile app functionality
Best For
Mid-sized to large RIAs seeking scalable model delivery and direct indexing capabilities.
Pricing
Custom quote-based pricing, typically AUM-based with basis points per account (e.g., 5-15 bps), minimums apply.
Clearwater Analytics
specializedSaaS-based investment book of record for reconciliation, accounting, and detailed reporting on investment income distributions.
Patented investment book of record (IBOR) that delivers reconciled, real-time distribution data across global assets without manual intervention
Clearwater Analytics is a cloud-native SaaS platform specializing in investment portfolio management, accounting, and analytics, with strong capabilities for tracking and forecasting investment distributions such as dividends, interest payments, and capital distributions across multi-asset classes. It automates data aggregation from thousands of sources, provides accurate reconciliation, and generates detailed distribution reports for compliance and investor communications. The platform supports complex structures like funds-of-funds and derivatives, making it suitable for institutional-scale distribution management.
Pros
- Exceptional data aggregation and reconciliation from diverse sources for precise distribution calculations
- Scalable cloud architecture handles high-volume portfolios with real-time analytics
- Comprehensive reporting and regulatory compliance tools tailored for distributions
Cons
- Steep learning curve due to extensive customization options
- High enterprise pricing not ideal for smaller firms
- Limited out-of-the-box simplicity for non-technical users
Best For
Large institutional investors and asset managers managing complex, multi-asset portfolios with high-frequency distribution needs.
Pricing
Custom enterprise subscription pricing, typically starting at $100,000+ annually based on assets under management and users.
eMoney Advisor
enterpriseClient portal and planning software that integrates investment tracking, cash flow analysis, and distribution forecasting.
Dynamic cash flow engine that forecasts and optimizes distributions in real-time across multiple scenarios
eMoney Advisor is a comprehensive financial planning platform designed for wealth advisors, featuring advanced tools for investment distribution, retirement decumulation, and tax-efficient withdrawal strategies. It aggregates client accounts, models cash flows, and simulates distribution scenarios using Monte Carlo analysis to optimize portfolios during the decumulation phase. The software supports goal-based planning and integrates with custodians for seamless data flow, making it suitable for holistic wealth management.
Pros
- Robust decumulation and cash flow modeling with Monte Carlo simulations
- Seamless account aggregation and real-time data integration
- Strong client portal for collaborative distribution planning
Cons
- Steep learning curve for new users
- High cost with custom enterprise pricing
- Limited focus on tactical execution tools compared to planning
Best For
Financial advisors serving high-net-worth clients who require integrated financial planning with sophisticated distribution optimization.
Pricing
Custom enterprise pricing, typically $5,000+ per advisor annually plus AUM-based fees; contact for quote.
PortfolioShop
specializedCloud portfolio management system for RIAs featuring reporting, billing, performance measurement, and distribution management.
One-click proposal generation with dynamic data syncing and full branding customization
PortfolioShop is a specialized platform for investment advisors, enabling the creation, customization, and distribution of professional portfolio reports, proposals, and fact sheets. It integrates with major custodians like Schwab, Fidelity, and Pershing, automating data pulls for accurate performance reporting and client-ready materials. Ideal for RIAs focused on streamlining client communications, it offers a library of templates and branding options to produce polished documents quickly.
Pros
- Robust integrations with custodians and CRMs for seamless data automation
- Extensive template library for professional, customizable reports
- Client portal for secure distribution and collaboration
Cons
- Steeper learning curve for advanced customizations
- Limited built-in advanced analytics compared to top competitors
- Pricing lacks transparency and can be costly for smaller firms
Best For
Small to mid-sized RIAs seeking efficient tools for proposal and portfolio distribution without needing deep analytics.
Pricing
Custom subscription pricing, typically $250-$500 per user/month based on assets under management and features.
Conclusion
The top investment distribution software tools present robust options, with Orion leading as the standout choice, integrating portfolio management, automation, and distribution capabilities efficiently. SS&C Black Diamond and Envestnet are strong alternatives—SS&C excels in CRM and precise household distribution calculations, while Envestnet offers unified account management and model marketplace access. Together, they cater to varied needs, ensuring users discover the ideal fit for their workflows.
Explore Orion today to streamline your investment distribution processes and enhance client engagement with its comprehensive, automated features.
Tools Reviewed
All tools were independently evaluated for this comparison