Comparison · Last updated 2024-12-20
BOFFO vs Black Diamond: Which Is Right For You?
Compare BOFFO and Black Diamond for portfolio reporting. Features, pricing, and which solution fits your needs.
Us
BOFFO
AI-powered extraction and reporting for independent offices.
- Pricing
- Free tier; paid plans from $30/month (flat fee, no AUM-based fees)
- Best for
- Family offices and advisors wanting simple, automated reporting
Them
Black Diamond
SS&C-owned platform for wealth advisors with custodian integrations.
- Pricing
- AUM-based (typically 5-15 bps)
- Best for
- RIAs with standard custodial relationships seeking direct feeds
Feature by feature
How they stack up
| Feature | BOFFO | Black Diamond |
|---|---|---|
| Auto Statement Extraction | Via feeds | |
| Pricing Model | Flat fee | AUM-based |
| Implementation | Self-service | Guided |
| Custodian Feeds | Manual upload | Direct integration |
The trade-offs
Strengths and limits
BOFFO
Strengths
- Automatic statement extraction
- Fast implementation
- Transparent pricing
- No AUM-based fees
Limits
- Smaller company
- Fewer advisor-specific features
Black Diamond
Strengths
- Direct custodian feeds
- Part of SS&C ecosystem
- Strong advisor workflows
- Established platform
Limits
- AUM-based pricing (expensive at scale)
- Complex for small teams
- Less flexible for family offices
The verdict
Which should you pick?
Choose BOFFO for flat-fee pricing and automatic extraction from any source. Choose Black Diamond if you need direct custodian feeds and are comfortable with AUM-based pricing.