Advent Launches Industry’s First Front-to-Back Solution for Family Offices
San Francisco, January 27, 2004 - Advent Software, Inc. (Nasdaq: ADVS), the leading provider of software to the financial services industry, announces the launch of “Advent® for Family Offices.” Designed to meet the specialized investment management and reporting requirements of multi-disciplinary firms offering integrated financial advice to either single or multiple high-net worth families, Advent for Family Offices is the industry’s first front-to-back solution for family offices. Advent is launching this solution in conjunction with its appearance at the Institute for International Research’s Family Office Management conference this week.
“The ability to deliver timely, accurate and easy-to-read reports, regardless of investment types or where accounts are held, is critical to a family office’s success,” said Peter Hess, Vice President of Marketing for Advent. “This solution enables both single family and multi-family offices to deliver better service and improve back office operational efficiency.”
Advent for Family Offices is comprised of the following four modules from which family offices can choose:
- Portfolio Management and Reporting, powered by Advent’s Axys® application, for performance measurement and reporting, integration with third-party general ledger packages, tax-sensitive investment management tools, and interfaces to third-party portfolio analytic tools;
- Trading and Order Management, from Advent’s Moxy® product, providing portfolio modeling and rebalancing, FIX-based electronic order routing, intra-day order management and integrated pre-trade and post-trade rules-based compliance checking;
- Integrated Custodial Data, enabling banks and trust companies to download client account data from the more than 300 custodians participating in Advent’s custodian network, to consolidate client assets from multiple financial institutions, reconcile cross-institutional data and deliver it online;
- Total Wealth Management, through Advent’s outsourced data management service, allowing firms to consolidate securitized and non-securitized assets (real estate, jewelry, art, etc.), normalize data, and deliver reconciled data online in a consistent format for easy wealth reporting.
ADVENT JOINS FAMILY OFFICE EXCHANGE LLC.
Advent has become a member of Family Office Exchange LLC (“FOX”), the leading global authority on the best practices in wealth management across disciplines for sophisticated families of exceptional wealth. With an established family office client base of approximately 200 firms, Advent’s participation as a member of FOX will help reinforce its role in the family office industry, which includes using technology to improve efficiencies and generate greater client satisfaction.
Advent will work with FOX in providing education to families facing technology challenges. “We’re very pleased that Advent has become a member of FOX, and will participate in our forums and learn from our members,” said Wally Head, President of Family Office Exchange. “Reporting on investment activity is one of the major challenges families with significant wealth face today, and we are pleased that Advent is devoting attention to these challenges.”
About Advent
Advent Software, Inc. (www.advent.com) has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 55 countries using Advent technology manage investments totaling more than US $8 trillion. Advent's quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs.
ADVENT, AXYS and MOXY are registered trademarks of Advent Software, Inc or its subsidiaries. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.
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Elizabeth Steed
Alexander Ogilvy
(415) 677-2729
Kathleen Golden
Advent Software, Inc.
301 Brannan Street
San Francisco CA 94107
(415) 645-1336
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