Overview
The Black Diamond integration connects your Practifi instance to Black Diamond’s wealth management platform, enabling seamless synchronization of client portfolios, assets, holdings, and contact information between the two systems. This integration eliminates manual data entry, keeps your client records up to date, and provides advisors with a unified view of client financial data directly within Practifi.
This article covers the day-to-day use of the Black Diamond integration, including linking portfolios to clients, creating new clients from Black Diamond data, and syncing information between systems. For details on setting up the integration, see our article on Enabling the Black Diamond Integration.
- Understanding How the Integration Works
- Viewing Black Diamond Data in Practifi
- Linking a Black Diamond Portfolio to an Existing Client
- Creating a New Client From Black Diamond
- Syncing Data From Practifi to Black Diamond
- Understanding Team Assignments
- Working With Assets and Holdings
- Frequently Asked Questions
Understanding How the Integration Works
The Black Diamond integration synchronizes data between Practifi and Black Diamond in two directions, giving your firm flexibility in how you manage client information. Understanding this data flow helps you decide where to make updates and what to expect from each synchronization, so your team can rely on the integration without second-guessing which system holds the latest information.
Inbound synchronization (Black Diamond to Practifi) brings portfolios, client relationships, accounts, and holdings into Practifi. This synchronization runs automatically on a daily schedule, typically during early morning hours. When new data arrives from Black Diamond, Practifi creates or updates the corresponding records, so your team starts each day with current financial information ready for client conversations and analysis.
Outbound synchronization (Practifi to Black Diamond) sends entity and contact information from Practifi back to Black Diamond. This includes client details, contact information, and address data. Once you initiate outbound sync for a client record, future updates sync automatically in near real-time, typically within one minute of making changes in Practifi.
The integration supports two API versions. Your firm may use the Legacy Portfolio API, the Client Relationship API, or both, depending on your data requirements. The Client Relationship API provides more comprehensive data synchronization, including holdings and bidirectional sync capabilities. Your System Administrator can confirm which API version your organization uses.
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Practifi |
Data flows bidirectionally between Black Diamond and Practifi, with portfolio and financial data coming into Practifi and client information syncing back to Black Diamond.
Viewing Black Diamond Data in Practifi
Once the integration is configured, Black Diamond data appears in several locations throughout Practifi, providing convenient access to client financial information within your normal workflow.
Integrations Tab
The Integrations tab provides a central view of all Black Diamond portfolios available to your organization. From this tab, you can see which portfolios have been linked to Practifi clients and which remain unlinked and available for assignment.
To access the Integrations tab:
- Click the App Launcher in the upper left-hand corner of Practifi.
- Search for and select Integrations.
- Locate the Black Diamond section to view available portfolios.
The portfolio list displays the Black Diamond Portfolio Name, the linked Practifi Entity Name (if applicable), and action options for each portfolio. Unlinked portfolios show a blank Practifi Entity Name field and are available for connecting to existing clients or for creating new client records.
Client Household Detail Page
When viewing a client’s household record that has been linked to a Black Diamond portfolio, you can see the associated financial data directly on the record. The detail page displays Black Diamond Portfolio Information, including the portfolio name and key identifiers, as well as the Assets and Holdings synchronized from Black Diamond.
This integration allows advisors to review client portfolio information without switching between systems, streamlining client preparation and meeting workflows.
Linking a Black Diamond Portfolio to an Existing Client
When a Black Diamond portfolio belongs to a client who already has a record in Practifi, you can link the portfolio to their existing Household record. This connection enables ongoing synchronization of portfolio data to the client’s Practifi record, so financial information stays current without manual updates.
To link a portfolio to an existing client:
- Click the App Launcher and select Integrations.
- In the Black Diamond section, locate the portfolio you want to link.
- Click the drop-down arrow next to the portfolio name and select Edit.
- In the Entity field, search for and select the appropriate Client Household.
- Click Save.
After saving, the portfolio data begins syncing to the selected Household. Assets and holdings associated with the portfolio appear in the client’s record, and subsequent daily synchronizations keep this information up to date.
Please note: Linking a portfolio is a one-time configuration step. Once linked, the portfolio remains associated with that client unless you manually edit or remove the link.
Creating a New Client From Black Diamond
When you receive a new client whose information already exists in Black Diamond, you can create their Practifi Household record directly from the portfolio data. This approach saves time by automatically populating client information in Practifi from Black Diamond, rather than requiring manual data entry, and gets new clients ready for service work faster.
To create a new client from a Black Diamond portfolio:
- Click the App Launcher and select Integrations.
- In the Black Diamond section, locate the unlinked portfolio for the new client.
- Click the drop-down arrow next to the portfolio name and select Create New Client.
- Practifi creates a new Client Household record and links it to the portfolio.
- Navigate to the newly created Household to verify and supplement the client information as needed.
The new Household record includes information synchronized from Black Diamond, such as the client name and any contact details available through the integration. You may want to review the record and add any additional information not captured in Black Diamond, such as service preferences or internal classifications.
Syncing Data From Practifi to Black Diamond
The integration supports sending client and contact information from Practifi back to Black Diamond, ensuring both systems reflect your most current client data. This outbound synchronization is particularly valuable when your team updates client contact information, addresses, or other details in Practifi, removing the need to maintain the same updates in two places.
Initiating the First Sync
Before Practifi can send updates to Black Diamond for a client record, you must initiate the first outbound sync. This is a one-time action that establishes the bidirectional connection for that client.
To initiate outbound sync:
- Navigate to the Client Household record you want to sync to Black Diamond.
- Locate and click the Send to Black Diamond button.
- Practifi sends the current entity and contact data to Black Diamond.
Please note: The Send to Black Diamond button is a one-time action per client record. After clicking it, all future updates to that client automatically sync to Black Diamond in near real-time, typically within one minute.
Bulk Sync for Large Volumes
For organizations onboarding large numbers of clients or syncing hundreds of records at once, Practifi offers an automated bulk sync capability. This technical feature allows your System Administrator or technical team to programmatically sync multiple client records without requiring manual interaction for each client record.
The bulk sync process uses the same data mapping and synchronization logic as the standard Send to Black Diamond button, but operates in the background without a user interface. This approach can reduce onboarding time from weeks to days when syncing 300+ clients, freeing your team to focus on client relationships rather than data setup.
Please note: Bulk sync requires technical implementation through Apex code, Salesforce Flows, or Salesforce Process Builder. Contact your System Administrator or consult our Using Black Diamond Automated Bulk Sync article for technical details and implementation guidance.
What Syncs to Black Diamond
Outbound synchronization includes entity details such as names and key dates; contact information, including names, phone numbers, emails, and addresses; and relationship data connecting contacts to client entities. This comprehensive sync ensures Black Diamond reflects changes made in Practifi without requiring duplicate data entry.
Real-Time Updates
After the initial sync, changes you make to client and contact records in Practifi automatically propagate to Black Diamond. When you update a contact’s phone number, correct an address, or modify entity details, Black Diamond receives these updates within approximately one minute. This real-time synchronization helps maintain data consistency across both platforms, so your team can trust the data they see in either system.
Understanding Team Assignments
Black Diamond uses Teams to organize client relationships by advisor groups or departments. The integration synchronizes these team assignments between systems, allowing your firm to maintain consistent organizational structures across Practifi and Black Diamond.
How Teams Appear in Practifi
Black Diamond Teams appear as Group records in Practifi's Settings area. Each Group has a unique identifier (a Z-number, such as z011775) that connects it to the corresponding Black Diamond Team. Client-team and contact-team connections are represented as Group Assignments, which link specific client or contact records to their assigned Groups.
Client Team Assignments
Client team assignments synchronize bidirectionally between Practifi and Black Diamond. When you add or remove a team assignment for a client in either system, the change reflects in the other system after synchronization. Clients can belong to multiple teams, and these assignments accumulate rather than replace one another.
Contact Team Assignments
Contact team assignments work differently from client assignments. Contact teams sync one-way only, from Practifi to Black Diamond. Changes made to contact teams in Black Diamond do not sync back to Practifi. Additionally, in Black Diamond, contacts can have only one active team assignment at a time. When you assign a new team to a contact in Practifi, it replaces any previous team assignment in Black Diamond.
Please note: Always manage contact team assignments in Practifi, not in Black Diamond, to ensure your records remain the source of truth for contact organizational data.
Creating Group Assignments
To assign a client or contact to a team:
- Navigate to the Division, Entity, or Contact record you want to assign.
- Copy the Record ID from the URL in your browser’s address bar (the 15 or 18-character string after the object name).
- Use the App Launcher to open the Settings app, then select Groups.
- Open the Group you want to assign the record to.
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Go to the Related tab and locate the Group Assignments related list.
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Click New and paste the Record ID into the Record ID field.
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Click Save.
Group Assignments link Division, Entity, or Contact records to their corresponding Teams.
Please note: Groups must sync from Black Diamond before you can create Group Assignments. Manually creating Groups in Practifi without syncing from Black Diamond first causes assignment failures because the Groups lack valid Black Diamond Team identifiers.
Working With Assets and Holdings
The integration syncs asset and holding data from Black Diamond to Practifi so that you can see your client's portfolio composition directly in their records. You can review allocations and account details as part of the overall client relationship.
Understanding Assets
Assets in Practifi represent financial accounts from Black Diamond, such as investment, retirement, and custodial accounts. Each asset record includes details such as the account name, account number, custodian information, and current value. Assets display on the client’s Household record and provide a summary view of the client’s financial accounts.
Understanding Holdings
Holdings represent the specific securities, funds, or positions within an asset. When the Client Relationship API is enabled, holding data is synchronized from Black Diamond, giving you the detailed composition of each account. Holding records include information such as security names, quantities, prices, and market values.
Owned vs. Disposed Holdings
The integration tracks holding status changes to reflect portfolio changes. When a holding first appears during synchronization, it receives an Owned status. If a holding no longer appears in subsequent synchronizations from Black Diamond, its status changes to Disposed, indicating that the position has been closed or sold. This status tracking helps your team understand historical portfolio composition even after positions change.
As of the Blaufränkisch release, when a Black Diamond Portfolio is deleted, associated assets and liabilities are automatically marked as Disposed in Practifi. This applies to both Portfolio-based and Client Relationship-based integration models. Disposed assets are retained for historical reference but excluded from AUM calculations.
Please note: Disposed holdings remain in Practifi for historical reference. If you want to remove disposed-of holdings, you can manually delete them in Practifi.
Asset and Holding Values
Asset values in Practifi are calculated based on the holdings within each asset. If an asset has holdings, Practifi rolls up the total value of its holdings to determine the asset’s value. For assets without holdings, Practifi uses the current value from Black Diamond. This calculation ensures asset values accurately reflect the underlying holding data when available.
Frequently Asked Questions
When Does Data Sync From Black Diamond?
Inbound synchronization typically runs daily in the early morning hours. Your System Administrator configures the specific timing. For outbound sync from Practifi to Black Diamond, updates happen in near real-time (within approximately one minute) after you click the Send to Black Diamond button for the first time on a client record.
Why Don’t I See Holdings for My Client’s Accounts?
Holdings synchronization requires the Client Relationship API. If your organization only uses the Legacy Portfolio API, holdings data is not included in the synchronization. Contact your System Administrator to verify which API version your organization uses.
Can I Sync Multiple Clients to Black Diamond at Once?
For standard day-to-day operations, you'll use the Send to Black Diamond button on individual client records. However, if your organization needs to sync a large number of clients (e.g., 300+ during advisor onboarding), your System Administrator can implement an automated bulk sync process. This technical feature operates in the background and significantly reduces the time required for high-volume synchronization. Contact your System Administrator to discuss whether bulk sync is appropriate for your use case. For details, see Using Black Diamond Automated Bulk Sync.
Can I Unlink a Portfolio From a Client?
Yes. Navigate to the Integrations tab, find the portfolio, click the drop-down arrow, and select Delete to remove the link. This eliminates the association between the portfolio and the Practifi client but does not delete any records from either system.
Why Did a Contact’s Team Assignment Not Sync to Black Diamond?
Contact team assignments sync one-way from Practifi to Black Diamond. If you made the assignment change in Black Diamond, it will not reflect in Practifi. Always make contact team assignment changes in Practifi to ensure proper synchronization.
What Happens If I Delete Address Information in Practifi?
Due to integration limitations, removing address data from Practifi does not entirely remove addresses from Black Diamond. Some address components, particularly street and country values, persist in Black Diamond even after fields are cleared in Practifi. This is a known limitation of the integration.
Who Do I Contact If the Integration Isn’t Working?
For synchronization issues, contact your System Administrator first. They can review the scheduled jobs and integration logs to diagnose problems. If you need additional assistance, your administrator can contact the Practifi Support Team.
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