San Francisco, CA, May 11, 2000 - Advent Software, Inc. (Nasdaq: ADVS) announces that Anchor Capital Advisors, Inc., a Boston-based investment counselor with over $1 billion in assets under management, has joined Advent TrustedNetwork™. Introduced in March of this year, Advent TrustedNetwork is a service that will enable financial institutions to use the Internet to deliver cross-institutional consolidated views of individual investors’ portfolios.
Advent TrustedNetwork is a business-to-business solution whose customers are institutions that will provide value-added online financial services to their clients. Advent will provide the cross-institutional, consolidated data gathering and reporting platform.
"For the significant number of our clients who have assets managed at multiple institutions, receiving consolidated statements will be especially useful," said William P. Rice, president of Anchor Capital. "We’re excited to be among the first investment management firms to be offering this unique service."
Developed by Advent to enable professional investment advisors to deliver a heightened level of service to their clients, Advent TrustedNetwork will allow the consolidated information to be shared simultaneously between trusted financial professionals and their clients.
"With Advent TrustedNetwork, we’re bringing modern, new-millenium technology to bear in the delivery of information to our clients," Mr. Rice continued. "Up until now, delivering consolidated reports has required a great deal of manual reformatting. This technology will allow us to provide almost instantaneous information to our clients in a highly intelligible format."
"We brought Advent TrustedNetwork to the market to not only solve a very real problem in the market today—the delivery of consolidated account statements, but also to give our customers a tool that will allow them to deliver an higher level of service to their clients," said Peter Caswell, president and CEO of Advent Software. "We’re very encouraged by the response we’ve seen so far in the market for Advent TrustedNetwork."
Advent Software, Inc. is the leading provider of Enterprise Investment Management solutions. The company provides a suite of complementary products for the front, middle and back offices of investment management organizations. The company’s common stock is traded on the NASDAQ National Market under the symbol ADVS.
Advent Software, Inc.
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