70 Percent of the World’s Largest RIA Firms Choose Advent Software

70 Percent of the World’s Largest RIA Firms Choose Advent Software

Choice of Delivery Platforms Strengthens Leadership Position in Upper End of Key Segment

SAN FRANCISCO – July 21, 2009 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, announced today that 34 of the 50 largest fee-only U.S. registered investment advisors (RIAs) are Advent clients, including seven of the top ten, according to the latest RIA Database Top 50 Report.  

Advent offers a suite of products designed specifically for the unique needs of RIA firms.  Encompassing the entire investment management process, Advent solutions and services improve efficiency, reduce risk, enhance compliance, and drive client service and transparency, freeing investment managers to focus on growing their business.

The suite offers customizable and scalable solutions for firms of all sizes and strategies, including:

  • Choice of deployment options: installed, hosted or fully outsourced
  • Portfolio management
  • Integrated client relationship management
  • Customizable reporting
  • Client statement automation
  • Trade order management
  • Compliance
  • Data reconciliation
  • Revenue management and invoicing
  • Research management
  • Partnerships and relationships with key service providers

“We see several reasons why Advent is the definitive leader among elite RIA firms,” said Anthony Sperling, Senior Vice President and General Manager of Advent’s Investment Management Group. “In this market thousands of firms have successfully grown their businesses with the help of our wide range of innovative and reliable offerings and flexible delivery options. As firms grow, they can migrate from one form of deployment to another within the Advent family without sacrificing their historical data.”

Firms can easily change custodians, he noted, because Advent® Custodial Data (ACD), the Company’s custodial data aggregation service, enables firms to connect automatically with nearly 500 custodians, the most extensive network in the industry.

In addition to covering a decisive majority of these top 50 RIA firms, Advent’s choice of deployment options has been successful at the other end of the spectrum: newly independent RIAs. According to industry analysts*, the ranks of independents are expected to grow over the next year as more advisors break away from larger firms or wirehouses. Unlike the limited range of options available from smaller, outsourced-only solution providers, Advent’s choice of outsourced, hosted, and installed platforms gives newer firms a clear growth path.

Concluded Sperling, “Not only is our outsourced offering extremely competitive for a new firm that might be sensitive to start-up costs, but Advent’s proven solutions and the flexibility of delivery choices we offer make us one of the only established firms providing a migration path from fully outsourced to managed hosting to a full on-site installation if and when a firm’s requirements warrant it.  Factor in the industry-leading level of service and support we offer and our longevity in the business, and Advent’s value proposition is compelling along the entire RIA continuum, from the smallest to largest firms.”

The latest RIA Database Top 50 Report ranks firms by discretionary assets under management as defined by the SEC as of March 31, 2009. Firms included in the ranking have to meet certain criteria. More than half their business must be retail. They must provide financial planning, portfolio management, or due diligence on third-party advisers. They must not be broker-dealers, charge commissions, employ registered representatives, or have a majority of their business in proprietary products. The top 50 firms meeting these criteria range in size from $1.14 to $7.61 billion.

*Aite Group, Wealth Management Goes Independent: Spotting the Breakaway Brokers, October 2008

About Advent
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983.  Today firms in 60 countries rely on Advent technology to run their mission-critical operations.  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 is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization.  For more information on Advent products visit here.

The Advent logo, Advent Software and Advent are registered trademarks of Advent Software, Inc.  All other company names or marks mentioned herein are those of their respective owners.

Jessica Miller, Public Relations
Advent Software
(415) 645-1668