New York, NY, September 17, 2003 - Advent Software, Inc. (Nasdaq: ADVS), the leading provider of software to the financial services industry, announces the launch of “Advent® for Asset Managers,” a comprehensive solution of software, data, and services designed specifically for the needs of the asset management marketplace. The launch coincides with Advent’s annual fall conference being held here this week.
Advent® for Asset Managers is designed to help firms address two major issues in their business – controlling operating risk and maintaining a high level of client service.
“Two of the most common contributors to operating risk are trading on inaccurate or incomplete information, and the human error inherent in manual processing. By delivering a solution whose modules are tightly integrated with each other and with the external systems critical to our clients’ businesses, we are able to deliver a solution to asset managers that dramatically reduces their operating risk,” said Mike Gamson, Advent’s Business Manager for the asset management marketplace. “With this solution, firms now can focus on their core business - managing assets and delivering top-quality client service.”
Advent® for Asset Mangers is available in two modules, featuring functionality for firms with between $100 million and $3 billion in assets, and firms with between $3 billion and $20 billion in assets. Functionality varies based on individual firm need, and includes:
According to Rob Hegarty, Vice President, Securities & Investments for TowerGroup, “Investment managers continue to strive for efficiencies in managing their increasingly complex IT environments, and comprehensive suites of products have become much more attractive than stringing together disparate systems.” He continues, “The prospect of dealing with fewer providers also has many asset managers looking to consolidate their applications.”
Advent® for Asset Managers represents a continuation of Advent’s strategy to introduce solutions that meet the unique needs of the niche markets in financial services. Previously announced this year were solutions for the Hedge Fund, Fund Administrator, Global Asset Management, and Bank and Trust markets.
Advent Software, Inc.
301 Brannan Street
San Francisco CA 94107