Advent Software Holds Third Annual Wealth Management Symposium to Discuss Industry Trends and Challenges

Advent Software Holds Third Annual Wealth Management Symposium to Discuss Industry Trends and Challenges

Operational Efficiency and Risk Management Identified as Key Drivers for Achieving Future Growth

LONDON – November 20, 2007 - Advent Software, Inc. (NASDAQ: ADVS), the leading provider of software and solutions for the global investment management industry, today announced that it had hosted its third annual Wealth Management Symposium, titled,  ‘Embracing Best Practices.’  The thought-leadership event, which attracted over 140 registered wealth management delegates, was held at the London Stock Exchange. 

The speakers included Bruce Weatherill, Global Private Banking/Wealth Management Leader at PricewaterhouseCoopers; Justin Urquhart-Stewart, Co-founder of Seven Investment Management; and Alison Malton, Managing Director at ComPeer. 

Each of the four speakers provided insights into strategies for managing the dual challenges facing the wealth management industry: increasingly stringent regulatory controls and more demanding clients.  They identified operational efficiency and risk management as the key drivers for achieving future growth and overcoming the challenges of an evolving regulatory environment, increasingly volatile markets and increased competition from Independent Financial Advisors (IFAs) and stockbrokers for ‘share of wallet’.  The panel’s overall message was that wealth management firms need to evolve and differentiate in order to avoid consolidation.

According to the PricewaterhouseCoopers’ 2007 PwC Private Banking/ Wealth Management Survey presented at the event, CEOs of EMEA wealth management firms are extraordinarily confident that they can outperform the market and achieve growth of 28% of net new AUM within their own organizations within the next three years.  The survey revealed that CEOs’ plans for growth include acquisitions and entry to new markets, with nearly 90% of CEOs feeling that there will be at least some, if not significant, consolidation within the industry.

Weatherill commented, “CEOs have some hard choices to make in order to achieve their growth ambitions, including whether to enter new markets, how to best address human resources and risk issues, and how to balance their firm’s growth in size without compromising an excellent client experience. Wealth managers recognize that significant investment is needed in front-office systems, including CRM and client reporting systems.” 

Urquhart-Stewart observed, “The industry needs to do a better job broadening clients’ asset allocation to better manage risk, and to look at investment cycles spanning a minimum of five years.  Predicting returns is impossible, but with the right portfolio construction across more asset classes, your client is going to have a less volatile journey and you can improve performance and predictability.”

Malton advised, “Wealth managers need to look at devising new strategies and new models in order to stay ahead of a rapidly changing landscape where IFAs are gaining more ground.  A quarter of all high income households consider their IFA to be their main financial adviser, compared with three percent who view wealth managers as their main adviser.  Wealth managers cannot be complacent about the challenge of the IFA market.”

Host of the event, Senior Vice President and General Manager of Advent Software EMEA Hakan Valberg, said, “It’s great to see wealth managers taking advantage of industry support to find the solutions to their growth issues. The right technology applications are extremely relevant business tools where achieving and managing growth are concerned. At Advent we continue to invest in our solutions to help firms embrace best practices to improve their business. We’re seeing a significant investment in technology, as wealth managers are accepting there is a flight to quality ahead and they are looking to differentiate themselves with a better, more streamlined offering.”

About Advent
Advent Software, Inc. (, 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.  For more information about Advent in EMEA visit

Forward-looking Statements
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

Advent is a registered trademark of Advent Software, Inc.  All other company names or marks mentioned herein are those of their respective owners.

Paul Watthey
Advent Software, Inc.
+44 20 7631 9240