Advent Launches Comprehensive Solution for Banks and Trusts, Delivering the Tools to Acquire and Retain High-Net-Worth Clients

Advent Launches Comprehensive Solution for Banks and Trusts, Delivering the Tools to Acquire and Retain High-Net-Worth Clients

San Francisco, CA, September 10, 2003 - the leading provider of software to the financial services industry, announces the launch of “Advent for Banks and Trusts,” a solution designed for banking and trust institutions that require reliable, secure automated tools for investment management.

“Whether you’re a small to mid-sized regional trust company or a large national bank, Advent offers a proven, comprehensive solution to address the diverse functional and technical needs of your firm,” said Peter Hess, Vice President of Marketing at Advent.

With the functionality available in Advent for Banks and Trusts, firms now have the tools to differentiate their offerings to a demanding high-net-worth client base through new product offerings and enhanced service delivery and client responsiveness.

Advent for Banks and Trusts is comprised of five modules:
· Wealth Management reporting, powered by Advent’s Axys® application, for on-demand, tax-sensitive, completely customized client report generation;
· Trade order management and portfolio modeling from Advent’s Moxy® trade order management application, providing pre-and post-trade compliance, electronic trade routing to brokers, and restriction capabilities;
· Client relationship management functionality linking the reporting capabilities to client contact and personal information;
· Integrated custodial data enabling banks and trust companies to download client account data from Advent’s nearly 300 participating custodians; and
· Outsourced data management, which allows firms to report holistically on securitized and non-securitzed assets.

“Advent’s solution has allowed us to move up market, adding larger multi-client family offices and more affluent high-net-worth individuals to our client base, while reducing our costs by 80 percent a year,” said Tom Herrington, President of Investment Trust Company, a Denver-based manager of private wealth. “Advent, integrated with the trust side of our business, allows us to compete with anyone, both from a cost perspective and a product perspective,” Herrington said.

Advent for Banks and Trusts features robust reporting tools, automated trade order management for straight-through processing capabilities, and tight integration with the major trust accounting system providers, giving banks and trust companies the control and flexibility to run timely, flexible reporting to their entire client base, which is essential for client retention and new client acquisition.

“After years of emphasizing wealth accumulation and investment returns, affluent clients increasingly seek help with complex wealth preservation and transfer issues. They desire an advisor who is at least conversant in all major wealth management disciplines and can coordinate multiple specialized functions to achieve their wealth objectives,” observes J. Scott Slater, Director of the Spectrem Group, a Chicago-based consulting firm specializing in the affluent market. “In addition to having access to specialized technical skills, advisors need technology platforms which can integrate the management and reporting of these various functions.”

“To retain and acquire high-net-worth clients, Advent for Banks and Trusts offers the right mix of solutions that allow firms to gain assets and provide the most personalized level of service,” concluded Advent’s Hess.

About Advent

Advent Software, Inc. ( has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 55 countries use Advent technology to 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.

Kathleen Golden
Advent Software, Inc.
301 Brannan Street
San Francisco  CA  94107
(415) 645-1336