SAN FRANCISCO – February 12, 2008 – Advent Software, Inc., (NASDAQ: ADVS), the leading provider of software and solutions for the global investment management industry, today announced that Patten and Patten, Inc. (Patten) has implemented Advent Portfolio Exchange® (APX), Advent’s award-winning comprehensive, integrated portfolio management solution. Patten is an independent investment advisory firm in Chattanooga, Tennessee managing more than $1 billion across 1,800 portfolios with more than 600 individual and institutional client relationships.
Patten sought a solution that had customer relationship management (CRM) capabilities, and, once introduced to APX, Patten decided to integrate all of its portfolio management, accounting and reporting into APX. With APX, the firm’s CRM system, portfolio management and reporting functions all operate on the same SQL database platform and share the same data, which gives the firm improved visibility and accuracy across its portfolios and enhances its client service. Patten also uses Moxy®, Advent’s industry-leading trade order management system.
“More than a simple contact tracking tool, APX’s CRM capabilities enable us to keep track of a client’s investment policy restrictions and preferences as well as account type and status,” said Clay Crumbliss, Vice President of Operations and Finance and Chief Compliance Officer, Patten and Patten. “We can move seamlessly from contact information to portfolios to see holdings, performance and other pertinent account data; and I know we have just begun to learn all of APX’s capabilities that we can use.”
Commenting on the efficiency gains, Crumbliss added, “APX will improve efficiency in virtually every aspect of the investment process. It will be extremely beneficial from a compliance point of view, from a portfolio manager’s point of view, from a service point of view and from a cost point of view. APX is designed for scalability to add new accounts and take on more assets as a firm grows – without adding staff.”
“We are very pleased that Patten, and many investment advisors like them, are rapidly taking advantage of the many benefits of APX,” said Michele Holton, Director of Product Marketing at Advent. “We look forward to working with Patten and continuing to deliver the superior service that Advent is known for throughout the financial services industry.”
About Patten and Patten
Patten and Patten, Inc., Chattanooga, TN (www.patteninc.com), is an independent, registered investment adviser with over $1 billion in assets under management. Our 600 plus relationships are based on mutual trust and respect, independence in the market place, sensitivity to market conditions, and pertinent information. Investment portfolios are customised based on in-depth discussions with our clients. Approximately 75% of our clients are high net worth individuals, with the balance institutional (including endowments, foundations, pension funds and retirement plans).
About Advent Portfolio Exchange®
Advent Portfolio Exchange® (APX), Advent’s award-winning, next-generation portfolio management product, fully integrates the front office functions of client relationship management (CRM) and performance attribution with the back office operations of portfolio accounting and reporting. This enterprise solution leverages a single SQL database to deliver critical client information via an easy-to-use browser-based user interface. APX delivers improved client service with enhanced security for today’s amplified compliance environment.
Advent Software, Inc. (www.advent.com), a global company, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in more than 60 countries use Advent technology and manage investments totalling more than US $18 trillion. Advent’s quality software, data and services enable financial professionals to improve service and communication to their clients, helping them grow their business while controlling costs.
Advent, Advent Portfolio Exchange and Moxy are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.