Advent and Ashland Partners Team Up to Offer Compliance Consulting to Advent Clients
New Alliance Partnership Will Deliver GIPS® Compliance Consulting and Verification Services
SAN FRANCISCO – August 27, 2007 – Advent Software (“Advent”), Inc., (NASDAQ: ADVS), the leading provider of software and solutions for the global investment management industry, today announced that Ashland Partners has become a member of its Alliance Partnership program. Ashland Partners is the leading Global Investment Performance Standards® (GIPS) compliance and verification services firm. The partnership expands Advent’s portfolio of service offerings to provide Advent clients with the tools and resources to support full disclosure and fair representation of performance, helping to ensure compliance with both institutional and regulatory requirements.
Ashland Partners will assist Advent clients with building or fine-tuning a GIPS compliance framework through a scalable service offering including pre-verification and compliance consulting; GIPS verification; and performance examinations. Key features of the service offering include:
- On-call access to GIPS expertise
- Advent-Ashland data, service and product integration
- Education and training
- Industry best practices
- Performance measurement
As a result of this strategic partnership with Ashland Partners, Advent will be able to leverage its client and portfolio management products, Axys® and Advent Portfolio Exchange® (APX), in facilitating GIPS compliance by offering data and product integration between the two products and Ashland’s compliance tool.
“We believe this collaborative service offering to enable Advent clients to become GIPS compliant and verified will give our clients a competitive advantage, helping them to attract new and larger accounts and reinforce their performance marketing,” said Anthony Sperling, Senior Vice President, Services. “This partnership came about because Advent clients asked for a service offering that allowed them to link Axys® and APX reporting directly to the GIPS verification process. Teaming up with Ashland Partners, a proven leader in the GIPS compliance and verification market, is a great move for us; nearly 80% of Ashland’s clients are also Advent clients, demonstrating that Ashland is a proven solution for our customers.”
“We are very excited about our new alliance partnership with Advent; we look forward to bringing immediate value to our clients through an enhanced service offering that leverages Advent's technical know-how and experience in the back office,” said Toby Cochran, President of Ashland Partners & Co. LLP and Managing Director of Ashland Partners International Ltd. “Advent, an institutional name in the industry and a fellow expert in the field, brings a wealth of knowledge and experience to this very unique collaborative offering.”
About Ashland Partners
Ashland Partners is a CPA firm that has been providing GIPS compliance and verification services to the investment management community since 1992. With over 530 clients worldwide, Ashland Partners has an unbeatable lineup of professionals inspired to deliver compliance solutions through effective one-on-one relationships with their clients.
Advent Software, Inc. (www.advent.com
), a multi-national firm, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $14 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 is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support organization.
Advent, Advent Portfolio Exchange and Axys are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Any forward-looking statements included in this press release involve risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include continued sales of existing products, market acceptance of new products, the impact of initiatives by competitors and other risks detailed in Advent’s most recent filings with the Securities and Exchange Commission, including, but not limited to, its quarterly reports on Form 10-Q and its 2006 annual report on Form 10-K/A, copies of which may be obtained by contacting Advent Software at (415) 645-1787 or by visiting Advent’s Investor Relations Web site at www.advent.com