Press Release

Advent’s Black Diamond Continues Tremendous Growth and Commitment to Client Service

Recent Milestones Include Increasing Assets by over $100 Billion, Key Solution Enhancements, and Doubling of Service, Operations and Product Development Staff since 2011 Acquisition

SAN FRANCISCO – June 6, 2013 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that Black Diamond, an independent business group of Advent, has continued its strong growth and superior client retention rates, while also achieving a number of product and service milestones to deliver increased value to clients.  Advent is celebrating the two year anniversary of its acquisition of Black Diamond, a key milestone in Advent’s long-term commitment to providing best-in-class solutions for the advisory community. 

With over 440 clients and counting, and assets on the platform exceeding $180 billion, the Black Diamond solution has increased its client base by over 85% and assets on the platform nearly 2.5 times since the acquisition.

The Black Diamond platform and service offering continues to develop, with close to 50 new releases in the last two years, including alternative investment tracking and reporting as well as a multi-custodial rebalancing.  With the most recent updates, clients can now quickly add individual or multiple alternative transactions and automatically view flagged transactions for override or modification, as needed.  With Black Diamond’s multi-custodial rebalancing solution, advisors can rebalance client portfolios for a specific target model at the account or household level, and have several new options for rebalancing workflows such as raising cash and allocation of large new account funding.  

Black Diamond has leveraged Advent’s core capabilities in data management and expanded its network of financial data through Advent Custodial Data®, which provides direct feeds from over 800 institutions and integrations with other financial institutions.

According to Aaron Bert, Systems Administrator of Certified Financial Group, “The Black Diamond solution is constantly being improved.  For example, clients can submit their product improvement ideas directly to the product management team.  We have actually seen some of ours implemented.”

In the past two years, the Black Diamond team has more than doubled its service, operations and product development staff, and an integrated Advent/Black Diamond sales and solutions consulting team supports prospective new clients with evaluations of their technology needs.

“It’s not just the solution, but the people behind it,” says William Decker, Founder and Managing Member of Decker Wealth Management. “We are raving fans of Black Diamond.  Across the board, the Black Diamond team has been fantastic.” 

The success of the pairing of Advent and Black Diamond can be seen through new clients representing a broad spectrum of the industry – from advisors and wealth managers to family offices from multiple parts of the industry, including independent RIA and independent broker-dealer markets. Among them are Moneta Group, H.D. Vest, Verde Capital Management, Welch Hornsby, Homrich Berg, RMB Capital, and Clarfeld Wealth Strategists & Financial Confidantes. 

“Black Diamond and Advent have focused on bringing our organizational strengths together to create a powerful combination, serving our clients with the best possible solutions for their businesses,” said Dave Welling, Senior Vice President and General Manager of Black Diamond, an independent business group of Advent Software. “We’ve proven that being part of Advent works by continuing to innovate and make our platform and service better. 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 they rely on to deliver value to their clients, and help them on their path to greatness.”

About Advent
Advent Software, Inc. (, a global firm, has provided trusted solutions to the world’s financial professionals since 1983.  Advent’s proven solutions can increase operational efficiency, reduce risk, and eliminate the boundaries between systems, information and people so you can focus on what you do best. With more than 4,500 client firms in over 60 countries, Advent has established itself as a leading provider of mission-critical solutions to meet the demands of investment management operations around the world.  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

About Black Diamond
As an independent business group within Advent, Black Diamond’s mission is to support and cultivate advisor greatness by providing the best combination of technology, service and innovation in the industry. The Black Diamond platform is purpose-built to meet the evolving needs of advisory firms and currently supports over 440 advisory firms representing over $180 billion in assets under management. For more information about the Black Diamond platform, visit:

Advent, the Advent logo, Advent Software, and Advent Custodial Data are registered trademarks of Advent Software, Inc.  All other company names or marks mentioned herein are those of their respective owners.

Media Contact:
Amanda Diamondstein-Cieplinska
Advent Software, Inc.
+1 (415) 645-1668