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Case Studies
No two firms are exactly alike, but Advent has implemented software solutions for many clients at firms like yours. Review the following case studies to find out how different organizations use Advent to achieve their goals.
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Asset Manager
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$37 Billion
Diversified alternative investment firm needed a portfolio management solution that could support a full range of asset types, and manage large trading volumes quickly and accurately. By utilizing Geneva they saw dramatic gains in speed, efficiency and growth. |
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Asset Management Firm
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$3.3 Billion
Avalon Advisors migrated to Advent Revenue Center to enhance productivity, reduce billing time, and improve compliance and SEC review readiness. |
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Asset Manager
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AUM: CN$1 billion+
CGOV sees efficiency gains while helping shape the new version of Moxy. “A lot of the things we have talked about before with Advent are now starting to show up in Moxy, we love the direction that it’s going and it’s certainly beneficial for us.” says Richard Sellner, Director of Finance and Operations |
Clearbrook Investment Consulting
Consultants to institutional
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$30 Billion
Clearbrook Investment Consulting advises institutional clients on their investment strategies, then identifies investment managers best qualified to meet their clients’ objectives. That requires maintaining current, in-depth information and evaluations on nearly 600 managers. In this case study they explain how Tamale helps them accomplish this. |
Connor, Clark & Lunn Financial Group
Asset Manager
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C$39 billion
CC&L is a “multi-boutique” asset management firm based in Toronto with centralized operations that support 10 affiliate firms collectively managing C$39billion. The firm leverages APX and Moxy for robust functionality and flexibility in integrating with in-house custom systems. “APX gives us the flexibility to add new products and custom data that managers want, and the scalability to add a significant number of accounts and grow the business.” |
Cornerstone Advisors, Inc.
Asset Management and Family Office Services
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$2 Billion
APX plays a role in helping Cornerstone account for its wide array of investment products. Commented Jeff Huse, Cornerstone’s managing director for technology, “We extend the functionality of APX to a number of systems to facilitate automation of our pooled funds accounting, our fund-of-funds, and our proprietary private equity and real estate products.” The newest version of APX builds on the system’s integrated platform and scalability to deliver even greater power, flexibility and ease of use. Hear about how Cornerstone has been leveraging some of the new features and functions in version 3.0, including: Outlook email capture, advanced search capabilities, expanded access to derived data and new custom reporting framework. |
Cortina Asset Management, LLC
Institutional Asset Manager
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$1.8 billion
Cortina Asset Management has built out its Advent software suite since opening in 2004. Starting with Axys® and Moxy,® the firm then transitioned to Advent Portfolio Exchange® and later added Advent Rules Manager and Revenue Center. So when Advent acquired the pioneering research management solution, Tamale RMS,® it got the firm’s attention. Today Tamale is an important part of Cortina's business. |
Cortina Asset Management, LLC
Institutional Asset Manager
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$1.8 billion
In an increasingly complex and demanding regulatory environment, compliance officers are hard pressed to get the timely, accurate information they need to monitor and manage risks effectively. Firms that use Advent solutions across the investment process are at a decided advantage—provided that compliance officers know what the products are capable of doing. “There is functionality in all Advent products that can build a stronger compliance program,” says Lori Hoch, Principal and COO of Cortina Asset Management, who also doubles as the firm’s Chief Compliance Officer. The Milwaukee-based firm uses the full, integrated suite of Advent products throughout its operations to mitigate their compliance risk and be prepared for an SEC audit. |
Dalton, Grenier, Hartman, Maher & Co., LLC - APX
Asset Managers
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AUM: $1.6 billion
DGHM utilizes Advent Portfolio Exchange, Advent Partner, Advent Revenue Center and Advent Corporate Actions. In this case study they speak about how they leverage these solutions for compliance, CRM, reporting, automation, partnership accounting, revenue management and third party integration. "As an asset manager we have to be completely on point with everything that we send out to clients and consultants. They're requiring a lot more due diligence. APX allows us to easily comply with those requests." DGHM also speaks about their experience with Advent Services in a related case study. |
Dalton, Grenier, Hartman, Maher & Co., LLC - APX
Asset Managers
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$1.6 billion
"Our experience with Advent Services was so good - on time, on budget, organized, smooth and virtually seamless. I couldn't recommend them more." DGHM also speaks about their experience with Advent Products in a related case study. |
Dolan McEniry Capital Management, LLC
Fixed Income Value Manager
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AUM: $2+ Billion
Chicago-based fixed income value manager specializing in corporate bonds. |
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Asset Managers
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AUM: €1 billion
Independent asset management boutique, serving high net worth individuals and institutional investors using Moxy,® Advent Portfolio Exchange® (APX) and RIMES® Technologies. |
Frantzen Capital Management, Inc.
Asset Manager
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Frantzen wanted to take advantage of the best technology available in order to be competitive and win the trust of clients. The solution: accessing Advent’s leading-edge portfolio management and trade order management platforms through Advent OnDemand. Frantzen uses their relationship with Advent OnDemand—not only for increased efficiency, but also as a marketing tool. Chris Michaud, research analyst at Frantzen agrees that having Advent as a technology partner carries some competitive clout. “Almost anyone that we work with or that we’re trying to get business from knows of Advent. It’s a very well recognized name.” Adds CEO Eric Frantzen, “On conference calls with prospective institutional clients, we like to tell them that by outsourcing to Advent OnDemand, it saves us from employing two or three more people, and allows us to keep costs down.” |
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Asset Manager
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AUM: $5.5 billion
Running up against shortcoming in their previous portfolio accounting system, GRG has found that, “Consolidating everything into one location (APX) has meant that efficiency and accuracy were greatly enhanced.” More recently, being among the first firms to implement the newest release, and working with Advent on fine-tuning the latest enhancements, GRG has been able to take advantage of the increased data flexibility, enhanced reporting, dashboards and streamlined report packaging. |
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Registered Investment Advisors
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$5.5 billion
“Rather than expanding with people, and diluting our overall delivery of excellent client service, we expand with systems. Advent was the cornerstone of that approach for us, and it’s proving to be what we had hoped, actually more,” explains Anne Gardner, Administrator & Chief Compliance Officer. “We’ve cut quarterly client report processing time, including billing, from six weeks to seven days with APX and Revenue Center.” |
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Asset Manager Firm
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Approximately $750 million AUM
A key feature of Advent Revenue Center is the ability to create custom rules, including differing fee structures and having the new forecasting capability integrated with billing data in Advent Revenue Center saves significant time in comparison to separate spreadsheet calculations. Commented Lisa Bellando, Vice President-Administration, “The flexibility to put in all the different fee structures and reduce the manual production of bills is probably the number one advantage for us. We’ve cut the quarter-end billing process from two days to one, and the rolling billing cycles to half a day. I would say Advent Revenue Center cut our billing time in half." Continued Bellando, “It used to take us about a day to produce our monthly run-rate report because of all the different fee structures and relationships. With forecasting in Advent Revenue Center, it will probably take about an hour.” |
Knightsbridge Asset Management LLC
Asset Management Firm
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$950 Million
Knightsbridge needed a faster, more accurate and automated process for generating trades to execute its investment strategy, and turned to Moxy® for its proven reputation in the industry. Commented Chad Neault, Analyst, Knightsbridge Asset Management, “With Advent, we feel that we are able to implement our investment team’s decisions expediently and more accurately. Not only does Moxy® provide our firm’s staff with a streamlined trading solution, it has also enhanced our offering to clients and partners by dramatically improving time to trade.” |
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Asset Managers
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$135 million
Since Riyadh-based KSB Capital Group launched in 2007 it has developed a broad client base encompassing retail, high net worth and institutional investors, with an equally wide range of investment product offerings. Therefore, the firm needed a best-in-class investment funds technology solution with the capability to support its universe of clients and full range of products and services. |
Lapides Asset Management LLC
Registered Investment Advisor
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$267 Million
Lapides has noted a number of operational improvements since moving to APX, including: managing security masters, uploading transactions for reconciliation and superior reporting. Commented Jim Betz, Chief Operating and Compliance Officer, “An outsourced portfolio management solution, especially one as advanced as APX, has a great deal of appeal for a growing firm. It’s a web-based system, unlike our old system that resided on a server here. That gives us the ability to access the system from anyplace in the world—which is very helpful not only from the standpoint of client services but also for a disaster recovery program. Advent’s web-based version of APX has also reduced our operating costs, making us a much more efficient operation.” |
Lincluden Investment Management
Asset Manager
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$2 Billion
Not only has Advent Portfolio Exchange® (APX) helped Lincluden improve the quality of its reports, but also the efficiency of production and distribution. “The automation of reporting in APX saves us considerable staff time. Just in the regular monthly reporting that we pull together and deliver to clients, we’re probably saving one administrator one to two days of time,” says Vice President Lynn Eplett. Manager of Information Technology JoAnne Kekes adds, “APX brings a whole new level of automation to our operations, and has allowed us to free up a lot of our time to concentrate on more important things that the firm needs.” |
MainFirst Asset Management
Asset Manager
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Just under €1 billion
To meet the service expectations of its institutional clients and attract new mandates to drive the firm’s ambitious growth plans, MainFirst Asset Management needed to replace its legacy infrastructure with a sophisticated technology platform, says Björn Kogler, Head of Operations, Asset Management at MainFirst Bank. “We are a pure asset manager, and we needed a system from an international vendor with the tools to support that business. Advent’s software fitted those requirements the best.” |
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Asset Manager
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$4 Billion
Like many firms, Mairs and Power, managers of the Mairs and Power Growth and Balanced Funds, used to learn of corporate actions through a variety of channels—often by chance or after the market effective date. Since implementing Advent Corporate Actions, however, the firm gets automatic notices of actions that affect its holdings. This not only increases operational efficiency, it also reduces manual errors and risk. “With ACA, corporate actions are handled in a timely manner, reducing the time spent researching the action and making manual adjustments after the fact,” says Sharon Castle, Investment Operations Associate. |
Matthews International Capital Management, LLC
Advisor to a multi-fund family investing
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$12.9 billion
Matthews needed an investment platform that offered both the rich global functionality required to track investments in 20 markets and the flexibility to automate its workflow. They selected Geneva. Geneva provided Matthews with improved accuracy and reliability, increased efficiency, reduced risks and streamlined reconciliation. |
NewSouth Capital Management, Inc.
Institutional Investment Advisor
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$1.1 Billion AUM
As someone who has seen APX evolve from its very beginnings—and played an integral role in its evolution—Andrew MacQueen, Vice President at NewSouth Capital Management, is well positioned to comment on the most recent enhancements in APX 3.0. “The functionality and what I call the ‘fit and finish’ of APX has gotten better and better with each version. It keeps getting more user friendly, it’s becoming sleeker and it’s doing more things. And that is clearly the efforts of the development team to keep refining and improving it. It’s solid progress on a lot of different fronts.” Enhancements to APX include: advanced search capabilities, easier-to-use user interface, two-way Microsoft Exchange synchronization and Outlook email capture, ability to set up recurring tasks and enhanced fixed-income reporting. |
Palladium Registered Investment Advisors
Registered Investment Advisors
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AUM: $1.2 billion
Palladium leverages the suite of Advent products and has recently migrated to the most recent release of APX. “Our goal is to have dashboards on each manager’s desk specific to their book of business.” |
Private Capital Management
Asset Manager
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$3 Billion
After a thorough review, Private Capital Management (PCM) converted from its existing trading system to Advent’s trading and compliance suite. “Our goal was to find a new system where those processes that previously took place outside of the order management system could take place directly within the system with the least amount of user intervention, and we achieved that objective with Moxy®. With Advent Rules Manager®, we now have the automated compliance support that we needed and much more...” said Information Technology Director Pedro Rolon. PCM also saw the logic of having a single provider for its core investment technology platform. |
River Road Asset Management, LLC
Institutional Investment Management Firm
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$2.8 Billion
River Road migrated from Axys to Advent Portfolio Exchange (APX) to take advantage of APX's enhanced reporting functionality and scalability. Learn how the firm benefits from a high level of integration and the ability to produce high-quality, customized reports. |
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Investment Management Firm
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AUM: $240 million
Rock Point is one of the first advisory firms to use Moxy® in conjunction with PortfolioCenter®, Schwab Performance Technologies’ portfolio management solution. Rock Point previously relied on a manual process using spreadsheets for trading. To continue to grow efficiently the firm needed to implement a trade order management solution that could integrate seamlessly with PortfolioCenter. Within just a few months of using Moxy®, Rock Point saw a number of significant improvements, including a 75% reduction in the time it took to begin trading. |
Rushmore Investment Advisor
Separate Account Money Manager
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$800 million AUM
Advent’s Moxy trade order management system provides the firm with a single centralized hub for managing the entire trading process, from portfolio construction through execution and settlement. Aaron Vann, Head of Trading and Operations at Rushmore commented, “Moxy has improved our trade order management significantly in terms of speed, breaking up block orders and reducing errors. It makes it easier to trade across multiple custodians and managing order flow while trying to achieve best execution. Intraday reporting and real-time information via Moxy is key for our success.” |
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Asset Management Firm
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$85 Billion
Danish investment firm experienced 500% increase in productivity and 80% reduction in administration support by using Advent’s solutions for investment managers. |
Steinberg Global Asset Management, Ltd.
Investment Advisor
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$450 Million
Since implementing Advent Revenue Center, Steinberg has realized a number of measurable benefits, including: significant time savings, reduction in errors, customization to client requirements, ease of training, and visibility of receivables. Steinberg has also begun using a capability built into the most current version of Advent Revenue Center: revenue forecasting and revenue sharing. Commented Lisa Marsden, Chief Compliance Officer and Operations Manager, “The major benefit of Advent Revenue Center is a lot more accuracy. We don’t have to do things manually. These days, keeping clients happy is the bottom line. Everybody is doing whatever they can to retain or bring in clients. Advent Revenue Center benefits the clients as well as the firm.”
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Asset Management Firm
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$2.2 Billion
An in-house analytics capability is increasingly essential in today’s environment, believes Jeremie Sebban, Performance Analyst at Stralem. “I think an easy-to-use analytics product, updated on a daily basis, really helps the portfolio manager have a keen and fresh idea of what’s going on and a better understanding of the short-term drivers. The main advantage of Advent’s analytics product is that it’s integrated into APX. So instead of having to import data from one system into another, I already have all the information ready. There are no bugs, no translation errors, or other issues that may arise when you translate files from one system to another. It saves me a lot of time and headaches not having to deal with those data issues.” |
Stralem and Company, Inc.
Asset Manager
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AUM: ~$3 billion
“We cut our billing process time in half. What used to take us over a week, now only takes two days.” Leeza Tisnovsky, Controller, Stralem & Company, Inc.
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Strand Kapitalförvaltning
Asset management firm
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$300 Million
Read about how this firm manages five times as many portfolios as when it started and has significantly grown assets under management using Advent software. |
Tortoise Capital Advisors LLC
Asset Manager
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$2.5 billion
After looking at a variety of options, Tortoise implemented Moxy OMS and modules, including the FIX network connection. Moxy has built-in connections to 20 algorithm providers, enabling firms to do all their algorithmic trading through a single platform. Commented Kenneth Malvey, a Managing Director and one of Tortoise’s founders, “One of the greatest benefits of Moxy was that we were able to consolidate ultimately all of our trading platforms onto the OMS. Now, we can do literally all of our trading through Moxy, and that has several significant benefits. For one, our traders need to know only one system versus using multiple platforms that are all configured differently, where there’s a greater likelihood of mistakes. In addition, With all the algorithms on one platform, one person can work 20 or 30 orders at a time. Before, each trader could effectively work five to ten.” |
Trillium Asset Management, LLC
Asset Manager
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$1 billion
Trillium Asset Management has eliminated redundancies among systems by taking the time to look at what APX has to offer instead of just mirroring their old systems. With the use of APX and Moxy the firm has more power and flexibility to customize and manage information, as well as a central repository for all client data. The implementation of APX has led to multiple benefits including the acceleration of report generation and improved speed and success in searching. “It has changed the game completely.” |
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Asset Manager
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$10.5 Billion
A longtime user of Advent technology, UMB added Advent Rules Manager® to automate the tedious, time-consuming process of monitoring compliance. “Now, it’s just a matter of clicking a few buttons.” |
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Asset Management Firm
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£2.5 billion
In the space of just 18 months, and during the worst financial crisis in decades, independent investment firm Veritas Asset Management has more than tripled in size, seeing its assets under management leap from approximately £800 million to £2.5 billion. And a key factor in the firm’s success has been Advent Portfolio Exchange® (APX) and Moxy®, says head of investment operations James Spence. |
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Investment Management Company
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Learn how W.H. Reaves uses an integrated Advent Suite to streamline trading and reconciliation, to achieve single vendor product compatibility and accountability, and to support its growing business without adding additional staff. |
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Asset Management Firm
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$2 Billion
Mutual fund company Weitz Funds needed to be more effective in organizing and sharing the information it gathered on companies—and more efficient in managing the research process itself. “We were looking for a way to organize all our fundamental research so that portfolio managers could easily see what the analysts were working on and understand their thinking,” explains Weitz CFO Ken Stoll. And Advent’s Tamale RMS offered the firm exactly what it was looking for. |
Altamount Capital Management Pvt Ltd
Independent multi-family office
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US$250 million
Altamount Capital Management was established in March 2009, becoming the first multi-family office to launch in India. One of the key features the firm required was an ability to view each family’s holdings at various levels: for example, at an empire level, a family level, sub-family level, individual level and portfolio level. “While all the software offered that capability, Advent’s functionality in this area was far superior,” says Mr. Joshi |
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Multi-family Office
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AUM $3 billion
Athena was one of the earliest firms to adopt Advent Portfolio Exchange. Now, 4 years later, they have migrated to APX 3.0 to take advantage of new functionality that is immediately beneficial to their firm, including: expanded access to derived data and an advanced reporting framework. Alan Slaughter, Reporting Associate, commented, “We consider APX the best-of-breed for keeping track of information. And 3.0 really expands on that because we actually have access to APX’s calculation power more than we could before. Things we used to have to do manually we can now do quickly and easily utilizing the new accounting functions.” |
GlobalView Investments SA
Multi-Family Office
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$500 Million AUM
With Advent Portfolio Exchange® (APX), GlobalView can offer clients great flexibility in the way they view data, gain an accurate picture of clients' consolidated exposure across multiple banks, and accommodate rapid growth of assets and clients. |
Piedmont Financial Trust Company
Family Office
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To further drive efficiency, Piedmont employs a full complement of Advent straight through processing products, including: Advent Custodial Data, Advent Corporate Actions, Rex and DTCC Interface. The combination of APX and Advent’s STP solutions has helped Piedmont master the challenges of a large single family office. It has also helped position the firm to expand its offering should it decide to in the future. Commented Edward Wright, Senior Manager and Trust Officer, “If we were to become a multi-family office, Advent products would play a larger role in the organization. The Advent platform really gives us a high level of operational efficiency. And it provides us with the leverage to handle a significantly higher number of accounts than we do currently—with the same staff or just a minimal increase.” |
WDW Management Services LLC
Family Office
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This family office leverages Advent’s industry-leading integrated suite of Axys, GLX and Advent Partner to optimize operational efficiency and ensure quality client service. Commented Angela Lynn, Accounting Manager, “We’ve had so many benefits, really. The time savings, the reporting of the time-weighted returns, the accuracy—we have a lot of things that we’re tracking here, and Advent technology keeps us on track.” Lynn adds, “Being able to export data through GLX from Axys and Advent Partner is big for us. It saves hours. It’s wonderful.” |
Zeke Capital Advisors, LLC
Ultra-high net worth RIA
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AUM: $1.5 billion
“The ease with which we can customize reports has enabled us to highlight information that is important to the families we serve.” Steve Miller, Chief Operating Officer, Zeke Capital Advisors LLC “APX has entirely changed how I approach my job every day.” Kate Miller, Technical Specialist, Zeke Capital Advisors LLC |
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Fund Admininstrator
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When hedge fund administrator CACEIS North America needed to improve its corporate actions processing, they chose Advent Corporate Actions. Not only did Advent’s automated solution streamline and improve the accuracy of corporate actions processing, it also integrated with Geneva®, the firm’s portfolio management platform. “ACA has improved our processing by making it easier and quicker to process corporate actions,” says CACEIS’s Glynis Clarke. |
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Alternative Fund Administrator
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An alternative fund administrator converted its accounts from Axys to Geneva to accommodate rapid growth and increased complexity, and to automate most of its connections with counterparties. |
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Global provider of fund administration and accounting services
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$30B
Maples Fund Services successfully leveraged Geneva, the system they used for hedge fund administration, to provide services catering to managed accounts. As a result Maples was able to quickly respond with a compelling solution to address growing market demands from institutional investors for hedge fund managed accounts.
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Global provider of fund administration and accounting services
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$30 Billion
Maples leverages Advent’s Geneva® global portfolio management system to provide enhanced data, reporting, and middle office services for alternative investment managers. |
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Global Fund Administrator
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AUM: $2.15 billion
Global corporate, trust and fund services provider |
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Full Service Hedge Fund Administrator
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$4.5 Billion
Read how this full service hedge fund administrator uses Advent Geneva® and Workflow Manager to integrate with other applications and external data sources, and increase automation and efficiency. |
Stone Coast Fund Services
Fund Administrator
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$5.5 Billion
Stone Coast, a full service fund administrator and operations consultant, upgraded to Advent Partner featuring World Investor to deliver the highest quality service for complex funds, both onshore and offshore. Principal Marc Keffer notes,"We certainly think we receive significant value. It's been an excellent return on investment." |
Vastardis Capital Services
Fund Administrator
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AUM: $20B
Vastardis needed a portfolio management platform that allowed for ease of integration with internal and third-party systems to support their fund-of-funds workflow, while also providing enhanced security coverage to support direct strategy clientele. Commented John Stefankiewicz, partner and COO, “Geneva’s open architecture has allowed us to integrate effectively our proprietary technology and workflow for our fund-of-funds clients.” Upgrading to the newest version of Geneva has put Vastardis in an even better position to grow its fund-of-funds business, while providing the broader security coverage that makes the firm appealing to existing and prospective direct strategy clients. |
Ironwood Capital Management
Fund of Funds
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Multi-billion
Ironwood, a fund of funds manager, implemented Tamale RMS to more easily categorize and store information collected over 13 years. The firm has realized time and labor savings and benefits from enhanced decision making. |
The Investment Fund for Foundations (TIFF)
Asset Manager
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$9.5 billion
Multi-manager advisory firm investing exclusively on behalf of nonprofits needed a solution to help evaluate, select and monitor fund managers more
efficiently, as well as a tool to provide the ability to centralize and share data throughout their firm. Tamale RMS enabled the firm to consolidate all of their research in one place and work more effectively and efficiently across the firm. Tamale also provided a variety of mobile applications, so no matter where employees and managers are they can access and share data. |
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Hedge Fund
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$900 Million
London based hedge fund manager made significant improvements to operational efficiency reducing process times by up to 60% on daily basis using Advent technology. |
Bascom Hill Partners, LLC
Start-up Hedge Fund
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$210 Million
Start-up hedge fund with limited time, budget and resources needed a scalable
investment platform. |
Endowment Capital Group, LP
Hedge Fund
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Endowment Capital manages a hedge fund primarily for institutional clients, such as foundations, endowments and pension funds. The fund focuses on a few carefully selected stocks, rarely more than ten names at a time. Endowment Capital uses Tamale to manage the research it conducts when making decisions on invests, as well as to manage investor relations, such as client and prospect information. |
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Global Hedge Fund
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$80 Million
Learn how a leading global hedge fund transitioned from Axys® to Geneva® after it grew from $80m in assets in 2000 to approximately $3.5 billion in international equity funds. This implementation dramatically reduced the firm’s costs and operational risk, while improving the workflow between the front and back offices. |
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Private investment management firm
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$75 Million
As HMI's deep research data accumulated, volume and organization became cumbersome. Too much “wasted” time was spent searching for data across different applications/platforms. They needed to streamline their process and speed up data retrieval. Tamale RMS provided a central repository for all the research data the firm collects, organized by target company and customizable topic. Tamale's mobility options offer them access to their research while in the office or on the road. |
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Investment Partnership
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Learn how independent investment advisor Kinderhook Partners leverages Advent’s Tamale RMS technology to enhance the usability of its vast research database and make better informed investment decisions. |
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Hedge Fund
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Read how Tamale drives more effective collaboration at Mont Pelerin Capital. |
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Independent Investment Manager
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$300 Million
Tamale acts as a single depository for the investment-related research and information that comes into Praxient Capital or is generated internally. “We are unusually focused on the disciplined application of our investment process,” says Daniel Abrahams, Partner at Praxient Capital. “Tamale is central to that by ensuring firm knowledge is organized in a very structured way, while still giving everyone the flexibility to write and think freely. It is such a flexible way of storing information.” |
RK Capital Management, LLC
Investment Advisor
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$200 Million
SEC-registered investment advisor managinglong/short equity hedge funds
with a focus on small caps. |
Atwill Financial Consulting Group, LLC
Registered Investment Advisor
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$12.5 Million
Commented Charlie Atwill, Managing Member, AFCG. “After doing some research, Advent OnDemand made a lot of sense. Advent is a company that has been around and has a strong reputation. In addition to the outsourcing advantages, the performance of Advent’s accounting and reporting solution itself was another attraction.” Continued Atwill, “For anyone launching an independent advisory practice, getting the right portfolio accounting and reporting system is critical. Make an informed decision on the type of technology you’re adopting. If you make the wrong choice, it’s very expensive to convert and it takes your eye off the ball, particularly in terms of client and investment management. You want to be doing what’s productive and producing revenue.” |
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Investment Advisory Firm
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$150 Million AUM
Learn how this firm uses Advent OnDemand to enhance client service without increasing overhead. |
Buttonwood Financial Advisors
Independent Advisor
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$41M AUM
“I picked Advent OnDemand because I wanted an outsourced solution. I didn’t want to be in the business of managing data and technology,” said Damian Gallina, Principal at Buttonwood. Advent OnDemand allows Buttonwood access to the sophisticated functionality of Advent Portfolio Exchange®, the comprehensive, integrated portfolio management solution, via the software-as-a-service (SaaS) model that includes full data management. That eliminates the need for internal IT support and reduces the firm’s investment in hardware and software—without compromising the system’s capabilities. Added Gallina, “I would need to pay somebody on the order of $40,000 a year to perform the system and operational functions managed by Advent OnDemand.” |
Cooper Lapman Financial, LLC
Financial Planning and Investment Management
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$45 Million
Cooper Lapman Financial, LLC a two-person financial planning and investment management firm relies on Advent OnDemand to reduce IT overhead, handle back-up and disaster recovery, as well as alleviate the operational burden associated with investment management. With exceptional training and support they can count on, Cooper Lapman is able to focus on the things that matter, research, financial planning, working with clients and managing portfolios. Advent OnDemand helps them “keep it simple.” |
David Vaughan Investments, Inc.
RIA Firm
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AUM: $1 billion+
APX Drives Efficiency and Responsiveness at David Vaughan Investments |
Disciplined Growth Investors
Registered Investment Advisor
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$2.0 billion
Long-time Advent client DGI turned to Advent Corporate Actions (ACA) to automate and streamline the tracking and processing of corporate actions. “Prior to ACA we relied on our custodians for our corporate action notifications. We were reactive in our processing, but now with ACA we are proactive. It notifies you from the preliminary information all the way up to the market effective date. The biggest benefit of ACA is knowing that we are processing corporate actions correctly and that our client data is accurate. I am much more confident being able to rely on ACA transactions, alerts and their dedicated team,” said Cindy Lee, Operations Team Leader at DGI. |
Disciplined Growth Investors
Registered Investment Advisor
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$1.4B
A previous user of Advent’s Axys for portfolio accounting and Qube for CRM, Disciplined Growth Investors (DGI) seemed a logical candidate for Advent Portfolio Exchange. In 2009, Advent made several significant enhancements to APX, including noteworthy improvements to the CRM component. DGI was one of the first firms to get a preview of the new functionality and the reviews are excellent. Having reached the limits of its previous systems, DGI has just begun to realize the full potential of APX. Or, as DGI puts it, “What was the ceiling in Axys and Qube is now the floor in APX.” |
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Advisory Firm
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AUM: $761 million
“If we didn’t have Black Diamond, I doubt we’d have had the confidence to grow as quickly as we did. In fact, we’ve grown more than eight times since we implemented Black Diamond—without adding any new staff.” says James Moore, Vice President of DKE, Inc. |
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Investment Advisory
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AUM: $30 million
Investment advisory unit of CPA firm, Kenneth Freed & Co. |
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Dually registered broker/dealer and RIA
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$804 Million
To sustain its commitment to delivering superior client service, Girard Securities, a family-owned, full-service broker/dealer, turned to Advent OnDemand when it needed more flexibility than its previous back-office system could offer. Commented Kevin Foote, Senior Director Advisory Services Marketing, “Advent OnDemand combines the functionality of the industry’s leading portfolio management system with the flexibility, convenience and cost-effectiveness of an outsourced solution; Advent takes care of all system maintenance and upgrades, reducing the need for hardware and on-site IT support and freeing us to focus on core capabilities.” |
PG Capital Management, LLC
Investment Advisory Firm
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PG Capital Management leverages Advent portfolio management software through Fidelity to generate custom reports for clients and to enhance client service. |
Reed Conner & Birdwell LLC
Registered Independent Advisor
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$1.5 Billion
At a time when many firms are looking to reduce costs and increase efficiencies, account reconciliation is an area that is often overlooked. Advent Custodial Data (ACD) has helped Reed Conner & Birdwell streamline its reconciliation process significantly by saving time, providing comprehensive custodial coverage, improving accuracy and improving productivity. Commented Daniele Beasley, Partner, Chief Operating Officer and Chief Compliance Officer, “Just off the top, ACD saves three hours a day of somebody in operations going to get the custodial files and navigating through that process. And the ability to automate so many mundane tasks has saved us a lot of time. That by far is what makes this product superior.” |
Stillwater Capital Advisors
Independent RIA
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$350 Million
Stillwater Capital Advisors needed a powerful portfolio accounting system that would enable them to service business and compete effectively right out of the gate. However, as a small start-up, the firm did not want to incur the overhead associated with installing and maintaining software. For Stillwater, the answer was APX delivered as software-as-a-service via Advent OnDemand. With Advent OnDemand, Stillwater has been able to run lean while growing its business. Commented Doug Swope, Founding Partner at Stillwater, “It has allowed us to focus on growing our business. If we had the kind of system that we ran ourselves, we would probably have to hire another person to do that work.” The firm also turned to Advent Alliance Partner LIGHT[PORT], a leading provider of advisor web portals and online reporting solutions. Through Advent’s integration with LIGHT[PORT], APX users can easily set up automated, web-based client reporting on their own custom client portals. |
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Investment Management Firm
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$125 Million
See how the founder and CEO of Symmetry Capital uses Advent OnDemand to perform data management and daily reconciliation on an outsourced basis to maximize client service. |
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Independent RIA
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AUM: $150–160 million
Vinoy Capital made a strategic decision to employ innovative technology to deliver a distinctive brand of service to clients. That is why they chose Black Diamond for online portfolio management and reporting. And when Black Diamond launched a mobile version for the Apple iPad, they jumped on it. |
Wislar Wealth Management, LLC
Registered Independent Advisor
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$50 Million
An advisor contemplating independence has a lot to think about and a lot of planning to do. Choosing the right technology platform is high on the list. George Wislar, President and CEO, has three key pieces of advice: Go with a proven solution, look for the seal of approval and don’t get stuck with a single-product vendor. Advent’s outsourced Advent Portfolio Exchange (APX) solution frees Mr. Wislar to focus on serving clients instead of serving technology, enabling him to reap the rewards of independence and enjoy the “happiest life” that he believes in. “I have absolutely no regrets,” he says. “Just be very aware of what you’re getting into.” |
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Prime Brokerage Group of Investment Bank
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Discover how Geneva's scalability and ability to adapt to increasingly complex strategies helps this prime brokerage group market to prospects, service large to small funds, and gain a competitive edge. |
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Prime Broker
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Read how this prime broker migrated to Advent Geneva to access real-time portfolio data, enhance reporting capabilities, and create electronic linkages with clients and their other service providers. |
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Prime Broker
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RMB, a division of FirstRand Bank Limited, set up its equity prime broking unit at the end of 2006. It provides comprehensive services to quality hedge funds, supporting clients ranging from start-ups to institutional managers, and encompassing the gamut of fund strategies. |
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Private Bank
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€900 million
When Bank Oyens & Van Eeghen started in 2002 it wanted to partner with a flexible software provider with a proven suite of functionally rich platforms that could meet the expectations of its sophisticated clientele. The firm turned to Advent Software and its best-in-class Moxy trade order management and Axys portfolio management, reporting, and accounting systems. And having subsequently enjoyed a period of rapid growth—including a doubling of assets under management last year, thanks in part to a number of big client wins— the firm wanted to enhance its systems environment to support its ongoing expansion plans. As a result, it upgraded from Axys to Advent Portfolio Exchange. The scalability that APX and Moxy offer will be integral to helping Bank Oyens & Van Eeghen achieve its continued expansion. |
Bluffview Wealth Management
Independent Wealth Manager
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$1 Billion
The lack of multicurrency functionality in Schwab's Portfolio Center led Bluffview to look for a solution that could keep pace with their growth in the US and Latin America. Advent's APX and Revenue Center fit the bill perfectly. |
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Independent asset management
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€300 million
Since launching in 1977, Geneva-based Caprinco has become one of Europe’s most innovative independent asset managers. The firm has long relied on Advent technology—most recently upgrading to Advent Portfolio Exchange (APX), Advent’s next generation portfolio management solution. “Because of the efficiencies APX provides to our staff, it allows them to concentrate on other tasks and focus more on servicing our clients’ needs,” says General Manager Hector Martinez-Zurbuchen. In fact, Caprinco was so pleased it chose Advent technology for another wealth management firm it acquired last year. |
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Broker-Dealer
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ING, Cetera’s former parent company, migrated from Axys to APX in order to take advantage of advanced security features and have a more robust offering for advisors. Leda Csanka, Vice President and Chief Information Officer, said, “We had to be completely separated from ING by year end. That meant converting some 74,000 portfolios representing $17.5 billion in assets, and preserving all the customization that had been built into the system. Despite a tremendous amount of pressure, the teamwork demonstrated between Advent and our technology teams enabled us to rebuild in three months what, at our former parent company, took 18 months.” |
Clifton Gunderson Wealth Advisors
Advisory Subsidiary
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$870 Million
The firm chose Advent Revenue Center to manage multiple fee schedules and to scale their billing process. “It’s easier. It’s more intuitive. It makes a lot more sense than what we were doing before. And it’s a lot easier to teach other people the process.” “It used to take over a week to go through the entire billing process. Now, with Revenue Center, it is essentially one day’s worth of work.” |
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Financial Advisory
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- $ 850 million AUM
Learn how this firm provides tailored financial advisory services to an array of private and institutional investors using Advent's fund distribution solution, Tradex. The automation of the fund order process has resulted in increased operational efficiencies and enhanced client service, and in addition the flexible reporting capabilities help improve business performance. |
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Independent Wealth Manager
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Filing securities class action claims is one of the most tedious duties
that investment firms face—something the people at Homrich Berg
know well. “We hated it.” That blunt assessment comes from Christopher
Casdia, the firm’s Compliance and Operations Manager. Chicago Clearing Corporation helps Advent users file securities claims. |
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Broker/Dealer
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AUM: $1.4 billion
“One of the benefits of APX is the ability to toggle between our custom asset classes and the traditional asset classes by using custom properties for the securities. It enables our advisor teams to choose which system they want to use when they report to their clients.” Erica Snyder, Managing Director, Hunter Associates, Inc. |
Hutchinson Capital Management
Investment manager
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$500 Million
Hutchinson Capital Management uses APX and Moxy to improve efficiency across the firm. With the CRM native in APX, there is now an effective tool in place for managing current relationships, empowering marketing, capturing email and managing activities. In addition to adding functionality for employees, the time spent on tasks in the back office and trading was reduced. “ We reviewed and rewrote all of our workflow processes, which was a big job, but worth it. Operationally, our goal was to reduce time spent on the functions that we’re performing by 25% , and we achieved that.” |
Klingenstein, Fields & Co., L.L.C.
Wealth Management Firm
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$3+ Billion
Klingenstein was looking to replace its current platform, which included CheckFree APL and other systems. The firm turned to Advent for its robust automated and integrated technology platform. The decision to replace the firm’s core portfolio management system drove a wholesale change in Klingenstein’s operating platform, from a patchwork of systems to an integrated Advent suite comprised of: Advent Portfolio Exchange, Moxy, Advent Custodial Data, Rex and Advent Revenue Center. Commented Jonathan Roberts, Senior Vice President and Chief Compliance Officer, “The comprehensive, integrated approach of Advent’s product suite made them very desirable, and having a complete straight-through-processing loop has produced unprecedented time savings and dramatic efficiency gains across the business.” |
Mittleman Investment Management
Registered Investment Advisor
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$55M
Mittleman Investment Management embarked upon an initiative to institutionalize its business operations in order to attract new clients. This meant the firm needed a robust portfolio management system to meet its needs today and support their future growth. After comparing offerings from Advent and other service providers, Mittleman Investment Management selected Advent OnDemand. “Advent’s proven reputation, solution capabilities and data integrity were the key reasons that we chose them as our technology partner,” said Evan Newman, Director of Marketing and Business Development at Mittleman. “One of our goals was a fast implementation and the ability to be up and running within one month. Advent gave us the confidence that it could be done, and they delivered. No other service provider offered us the same peace of mind and reliability that Advent offered.” |
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Registered Investment Advisor
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AUM $50 million
As a start-up three years ago, Pendo needed a technology platform that was efficient, fully integrated and would allow the firm to grow with minimal incremental investment in technology or headcount. Pendo turned to Advent Portfolio Exchange® and Moxy ® to achieve those goals. Tina Larsson, Chief Executive Officer, commented, “We started with just three people and have been able to retain the size of our operations because the technology is that good. We believe that we could grow from a $50 million to a billion-dollar firm with the same environment that we have now. Advent is a necessity, no question.” |
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Private Banking and Asset Management
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- $ 2.5 billion in client holdings
Powered by Advent Portfolio Exchange and Tradex, Advent's fully integrated solution for portfolio management and fund order management, this wealth manager has enhanced front-to-back workflow efficiencies and improved client services significantly, through automation, greater control and assurance, and flexible reporting. |
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Wealth Management
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Read what led Silver Bridge to migrate to Advent Portfolio Exchange® (APX), the enterprise portfolio management solution that incorporates comprehensive performance reporting that’s compliant with global investment performance standards (GIPS). |
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Wealth Management Boutique
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$1.4 Billion
Read how Silver Bridge, a long-time user of Advent Portfolio Exchange® and Advent Moxy® OMS, recognized opportunity to review and improve workflow processes in the new release of Moxy. |
Spears Abacus Advisors LLC
Registered Investment Advisor
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$850 million
Spears Abacus was experiencing growing demand from clients for more in-depth descriptions of portfolio performance, so the firm turned to APX for its built-in performance analytics. Commented Robert Raich, President of Abacus, “We had more and more clients who were requesting analytics. APX’s performance analytics have received a very positive client response because we can identify exactly what is driving a particular client’s performance. When you look at an attribution report, it becomes very obvious where either sector or industry selection did or did not contribute. It really shines a spotlight on the benefits of tracking differences against the benchmark.” |
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Private Bank
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€700 million
This new Finnish private bank leverages Advent’s state-of-the-art portfolio management and trading technology to support its rapid growth. “We opted for Advent Portfolio Exchange (APX) because it links seamlessly with Moxy, and we saw how useful it would be to have the reporting side communicate with the asset management side,” says Taaleritehdas co-founder and EVP Karri Haaparinne.
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Wealth Manager
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$150 million
TEG chose Advent OnDemand for its ability to deliver a scalable state-of-the-art solution; one that met their needs for turnkey integration allowing robust portfolio data to be leveraged by outside systems. |
Wasmer, Schroeder & Company
Registered Investment Advisor
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AUM $3.4B
A long-time user of Advent’s Axys portfolio accounting system, the firm found the answer to its needs in Advent Portfolio Exchange (APX), which integrates portfolio management and reporting with CRM on a single SQL database platform. Bob Stiess, IT Coordinator, commented, “The two biggest motivators for moving to APX were the CRM and packaging functionality for reporting. When we saw them all together in one product, it fit our needs.” At WSC, APX anchors an integrated suite of Advent solutions that includes Moxy, Advent Custodial Data, and Rex. “It’s great to have all those pieces working together and being able to reconcile,” added Mr. Stiess. “The integration isn’t something we really think about everyday because it’s always there. But if it wasn’t there we would definitely miss it.” |
Wealth Management Partners NV
Wealth Managers
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AUM: €800+ million
Wealth management and advisory firm servicing high net worth and ultra high net worth individuals. |
Willingdon Wealth Management
Registered Investment Advisor
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$140 Million
Willingdon Wealth Management converted to Advent OnDemand in early 2010. Willingdon has seen a number of improvements since then including: platform integration with their custodial and trading platforms, increased access to data, greater reporting flexibility, improved operational efficiency and superior customer support. |
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