Advent Delivers Integrated Rebalancing Solution for Black Diamond Advisory Clients

Advent Delivers Integrated Rebalancing Solution for Black Diamond Advisory Clients

New Solution Offers Multi-custodial, Household-level Rebalancing Tool

LAS VEGAS, NV – September 10, 2012 – AdventConnect 2012 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced the availability of a multi-custodial rebalancing solution for its Black Diamond platform. This new capability brings together two major advisor workflows within one system, creating efficiencies for advisors while helping them grow their businesses.

“Advisors are always looking for ways to spend more time on client service and less time on data collection and management,” said Reed Colley, Senior Vice President and General Manager of Black Diamond. “We’re excited about bringing integrated rebalancing functionality to our platform giving advisors more time to do great things for their clients.”

Portfolio rebalancing is a major part of an advisory firm’s workflow that typically requires advisors to import data from multiple systems. Since the process is manual, it is often time-consuming, complicated, and prone to error. Custodians often have attempted to address these issues by offering rebalancing capabilities to their clients, but these solutions are largely limited to rebalancing the assets held at each individual custodian.

With Black Diamond’s rebalancing solution, Advent is helping their clients overcome this challenge by creating a tool that allows advisors to rebalance any account, portfolio, or household on the Black Diamond platform, no matter where the assets are held. This provides them with a complete view of allocation scenarios and potential adjustments across their entire client base. The rebalancing solution further streamlines an advisor’s workflow by automatically creating trade files for each custodian once the rebalancing session is completed. Finally, since it is integrated directly into the Black Diamond platform, advisors have the additional benefit of using intuitive, purpose-built workflows and working with data that has already been reconciled and aggregated.

Carl Szasz, President & Chief Compliance Officer of Verde Capital Management, points out that he has been using Black Diamond’s solution “almost daily” and adds “Black Diamond’s rebalancing tool saves me time and gives me the clarity that I need across all of my investments. Whether I want to raise cash in a single account or move an entire group of clients into a more conservative portfolio, it just works!"

“Our mission has always been to deliver solutions that allow our clients to thrive, and we’re working diligently to remove boundaries between the systems and information that they rely on to deliver value to their clients,” said Colley.

Black Diamond’s rebalancing solution was developed after an extensive beta test with more than 50 clients and is now part of the platform’s standard offering.

About Black Diamond Performance Reporting
Black Diamond is a leading Web-based, outsourced portfolio management and reporting platform built for U.S. based advisory firms. Founded in 2003 and acquired by Advent in 2011, Black Diamond currently reports on over $100 billion in advisor assets and has pioneered the delivery of daily reconciliation and performance reporting services via the web. Black Diamond empowers advisors by combining technology, service and innovation to deliver a user-friendly and customizable platform that helps advisors be great. For more information about Black Diamond services visit

About Advent
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983.  Firms in more than 60 countries count 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 operational risks and 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

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Media Contact:
Amanda Diamondstein-Cieplinska
Advent Software, Inc.
(415) 645-1668