Pershing LLC has signed a deal with Black Diamond Performance Reporting to make its software available for both RIAs and introducing broker-dealers.

Pershing’s integration with Black Diamond marks a first.

“We have worked closely with best-of-breed solution providers over the years and have also developed and currently offer proprietary performance reporting solutions,” says Mike Geller, spokesman for Pershing. “However, our relationship with Black Diamond marks the first third-party performance reporting solution that will be fully integrated with our platform.”

Advisors will access the back office software through Pershing NetX360 platform, which puts advisory assets and transaction assets side by side for independent reps.

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Black Diamond has made strides with high profiile advisors and broker-dealers during the past year. For example, HighTower Advisors LLC of Chicago announced collaboration with Black Diamond last September.

Black Diamond convinced Suresh Kumar, chief information officer of Pershing, that it is the best-bred software on the market.

“We continuously strive to provide our customers with access to best-of-breed business and technology solutions,” he says. “The addition of Black Diamond Performance Reporting to our NetX360 platform reflects this commitment.”

It gives upstart Black Diamond of Jacksonville, Fla. another talking point in a world of back office software dominated by Advent Software and Schwab Portfolio Center, both of of San Francisco. Black Diamond was founded in 2003 by Reed Colley who is only 32.

Black Diamond has proprietary reconciliation services, cost basis tracking and customizeable home pages. Pershing will make the formal announcement on Monday. Pershing serves 900 IBDs with approximately 100,000 reps.