Advisors are expected to reclaim more than 500 hours of document-sourcing time during peak tax season this year with SS&C Accord. They can now spend time deepening client relationships instead of chasing paperwork. With over $4 trillion in assets under administration, SS&C brings institutional expertise and precision to one of the most painful parts of tax season: K-1 processing.
For most people, April 15th signals the end of the tax season. However, for advisors supporting clients with alternative investments, it's just the beginning. K-1s often arrive late—sometimes as late as mid-September—leaving only weeks before extended filing deadlines. That delay creates operational strain, increases error risk, and undermines client confidence.
SS&C Accord, integrated with the SS&C Black Diamond® Wealth Platform, enables firms to move past outdated workflows. Combining intelligent automation with fund administration expertise, SS&C Accord streamlines document aggregation and reduces the manual burden that typically defines this high-stress season.
A Smarter System: Automated, Centralized, Secure
Retrieving K-1s is inefficient and fragmented. Funds frequently file extensions, forcing advisors to track hundreds or thousands of documents across multiple portals at the final buzzer. The result? Time-consuming downloads, manual categorization, and constant follow-up.
SS&C Accord completely removes advisors from the retrieval process. The team monitors expected documents, collects them upon arrival using intelligent automation, and categorizes them using natural language processing. Everything is stored in a centralized location with clear naming conventions and bulk download functionality.
Integration with the Black Diamond Vault allows advisors and their clients to access all reports and tax documents from a single, secure location. There is no portal hopping, no lost time, no multi-step logins, and no authentication barriers.
From Inbox to Vault: How It Works
SS&C Accord replaces manual K-1 chaos with a streamlined, advisor-friendly process:
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Monitoring: SS&C sets up a dedicated inbox for each client and registers them as interested parties. Digital workers then manage messages to these inboxes for actionable items.
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Retrieving: The digital workforce then takes action by logging into portals, entering multi-factor authentication codes, and downloading the tax documents directly to the processing center.
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Processing: Natural language processing reads through the K1 documents to identify key data items required for accurate categorization and assignment. A professional service team model drives expertise to oversee, review, and approve the assigned metadata and categorization attributes.
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Integrating: Approved tax documents can be downloaded in bulk in the SS&C Accord application and automatically delivered to the Black Diamond Vault for investor access. Advisors will no longer have to own them manually.
This process reflects decades of fund administration experience. SS&C understands the nuances of complex fund structures and specialized reporting requirements, ensuring nothing is missed.
Empowering Advisors. Enhancing Trust.
With SS&C Accord, advisors reduce manual work, eliminate document bottlenecks, and significantly improve delivery timelines. Clients receive their K-1s sooner, and the documents are better organized. There are no late-night texts or last-minute scrambles. Instead, clients get timely delivery without the stress. That efficiency and reliability strengthens the overall advisor-client relationship.
For too long, advisors have tolerated tax season’s inefficiencies. That’s not innovation; it’s inertia. SS&C is changing that.
Tax season doesn’t have to be chaotic. As deadlines loom, the SS&C Accord-Black Diamond integration gives firms the tools to stay ahead.
Want a deeper dive? Listen to our companion podcast for an in-depth conversation that expands on these insights and brings real-world perspectives to the ideas explored. Listen here or wherever you get your podcasts.
If your wealth management company is still chasing K-1s manually, learn how the SS&C Black Diamond Wealth Platform can help you reclaim your time. Request your personal demo, call 1-800-727-0605, or email info@advent.com.
