Advent’s Product Suite Provides Klingenstein, Fields & Co., L.L.C. with Comprehensive Front- to Back-Office Platform

Advent’s Product Suite Provides Klingenstein, Fields & Co., L.L.C. with Comprehensive Front- to Back-Office Platform

Wealth Manager Leaves CheckFree APL for Advent’s Automated and Integrated Solution

SAN FRANCISCO – September 1, 2009 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that wealth management firm, Klingenstein, Fields & Co., L.L.C. is enjoying the benefits of Advent’s integrated suite of products.

Based in Manhattan, NY, Klingenstein has over $3 billion in assets under management and specializes in serving high-net-worth individuals and families.  The firm was looking to replace its current platform, which included CheckFree APL and other systems.  Klingenstein turned to Advent for its robust automated and integrated technology platform.  The decision to replace the firm’s core portfolio management system drove a wholesale change in Klingenstein’s operating platform, from a patchwork of systems to an integrated Advent suite comprised of:

  • Advent Portfolio Exchange® (APX), the award-winning end-to-end portfolio management solution that integrates the front-office functions of prospecting, marketing, and customer relationship management with the back-office operations of portfolio accounting and reporting.
  • Moxy®, Advent’s industry-leading trade order management system.
  • Advent’s straight-through processing tools, notably Advent® Custodial Data (ACD), its custodial data aggregation service which links APX with some 500 custodians, and Rex®, which automates reconciliation and eliminates manual error-checking.
  • Advent Revenue Center® for streamlined billing and revenue management.

“Previously, we had a number of systems that were neither integrated nor compatible; we knew that we stood to gain significant efficiencies through better integration,” said Jonathan Roberts, Senior Vice President and Chief Compliance Officer, Klingenstein, Fields & Co.  “The comprehensive, integrated approach of Advent’s product suite made them very desirable, and having a complete straight-through-processing loop has produced unprecedented time savings and dramatic efficiency gains across the business.  It was very important for us to find a proven technology partner committed to investing in the future of its products and we have found that with Advent.”

“Advent’s product suite provides Klingenstein with an efficient and cost-effective front- to back-office solution designed to reliably handle the operational demands of their business and support their wealth management strategy,” said Anthony Sperling, Senior Vice President and General Manager of Advent’s Investment Management Group.  “We are delighted to be working with Klingenstein to provide them with a platform that facilitates their continued success.”

About Advent
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983.  Firms in 60 countries rely on Advent technology to run their mission-critical operations.  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 and services organization.  For more information on Advent products visit our product page.

Advent, the Advent logo, Advent Software, Advent Portfolio Exchange, Advent Revenue Center, Moxy and Rex are registered trademarks of Advent Software, Inc.  All other company names or marks mentioned herein are those of their respective owners.

Jessica Miller
Advent Software, Inc.
(415) 645-1668