Using the Black Diamond Integration

Overview

Our Black Diamond integration allows advisors to see assets and holdings from Black Diamond within your Practifi organization. This article outlines the integration, how to use the integration and the data field mapping of the integration.

Please note: This functionality will not be available in your organization if the integration has not been enabled. For information on enabling the integration, please consult our Enabling the Black Diamond Integration article.

• Integration Summary 
• Using the Integration
  • Accessing the Black Diamond Portfolio List
  • Linking Records (Portfolio API)
  • Linking Records (Client Relationship API)
  • New Clients
  • Viewing Assets and Holdings
• Field Mapping

Integration Summary

Our integration with Black Diamond allows you to keep your Practifi Assets and Holdings in sync with Black Diamond's Accounts & Holdings. The information flows between the two systems as per the table below:

Practifi	Sync	Black Diamond
Asset	Nightly	Account
Holding	Nightly	Holding

Using the Integration

Accessing the Black Diamond Portfolio List

1. In the top-left App Launcher icon in Practifi, locate and launch the Integrations App.
   
2. Select Black Diamond from the dropdown. This presents the list of Black Diamond Portfolios and of their earlier linkages.
   • Please note: If Black Diamond is the only integration added to the Practifi system then the choice of Black Diamond as a dropdown choice on the Integrations tab will not appear.  The Black Diamond portfolios will appear immediately on the mapping panel without needing to specifically select Black Diamond.
     

Linking Records (Portfolio API)

If your organization is using the Portfolio API rather than the Client Relationship API, do the following to link a Black Diamond Portfolio to an existing Practifi Household:

1.  In the Integrations app, click on the down arrow at the right of the row and select Edit.
   
2. Search for the name of the Practifi Client you wish to associate with the Black Diamond Portfolio, then click Save to complete. The system will do a search of potential matches as you type.
   
3. The assets and holdings of the Black Diamond portfolio are now linked to the selected Practifi household and will appear under the Financials tab in Practifi.

Linking Records (Client Relationship API)

If your organization is using the Client Relationship API, you can manually trigger a sync or link a specific Black Diamond record to a Practifi Client record in the Data Management app.

Please note: If you do not have access to the Data Management app, please contact your Practifi Administrator.

As a prerequisite for using this feature, the Use Client Relationships to Link Records setting must be enabled in Salesforce Setup > Custom Settings > Black Diamond Integration Settings. For more information, see Enabling the Black Diamond Integration.

To link a Black Diamond record to a Practifi Client, do the following:

1. From the App Launcher, search for and select the Data Management app.
2. In the Data Management app, click the Integrations tab.
   Please note: You might need to click the More option or click the pencil icon to add the Integrations navigation option.
   
   
   
   
3. On the Integrations page, click the Sync BD Clients button to manually trigger a sync.
   
   
   
   
4. To link a specific client, click the caret on the client's row and select Edit.
   
   
   
   
5. In the edit window under the Linked Practifi Record heading, click into the Entity field.
   
   
   
   
6. Search for and select the Practifi Entity you want to link.
7. Click Save.

New Clients

Where there is no corresponding Client record in Practifi, you can create a new record either by:

• Clicking on the down arrow at the right of the row and select Create New Client or

• Ticking the checkbox on the left of the Portfolio Name and clicking on the Create New Client button.

This step will create a new Client in Practifi with the same name as the Black Diamond portfolio, with the underlying portfolio assets and holdings from Black Diamond included.

Viewing Assets and Holdings

Black Diamond assets are located on the Financials tab of a Client record.

 

Clicking on the Name of an asset opens further details. Basic details about the asset are found under the Basics tab. 

Clicking on the Holdings tab opens a table with summary details about each holding within the asset.

Clicking on the Name of a particular holding opens a panel with further details about the holding.

Field Mapping

The content of data fields flows one way, from Black Diamond to Practifi. 

Asset (Practifi) - Account (Black Diamond)

Practifi	Black Diamond
Description	Name
Account Number	Account Number
Valuation Date	As of Date
External Number (combination of Practifi & Black Diamond IDs)	N/A
Current Value (sum of Holdings)	N/A

 Holding (Practifi) - Holding (Black Diamond)

Practifi	Black Diamond
Name	Name
Segment Name	Segment Name
Class Name	Class Name
Product Code	Ticker
Unit Balance	Units
As At	As of Date
External Number	Account ID