Press Release

Advent’s Black Diamond Platform Surpasses 500-Client Milestone

Assets on the platform more than triple since 2011 acquisition

SAN FRANCISCO – June 4, 2014 – 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 surpassed 540 clients and exceeded $245 billion in assets on its portfolio management, reporting, and rebalancing platform. The Black Diamond platform has increased its client base by more than 125 percent and assets on the platform by more than 240 percent since its acquisition by Advent in June 2011.

“The phenomenal growth we’ve seen over the past two years, both in terms of client acquisition and growth in asset figures, speaks to the phenomenal success of the combination of Black Diamond and Advent,” said Dave Welling, Senior Vice President and General Manager, Black Diamond. “Not only have we more than doubled our clients, we’ve more than tripled our assets on the platform, and we are watching as our clients grow right along with us. A significant part of our continued growth comes from the fact that our clients are growing at an amazing rate. Our clients choose us to help them better serve their clients and to help them grow with scale so it’s very rewarding to know that we are helping them thrive.”

A number of former Axys® clients, including Cadaret, Grant Advisory Services, Homrich Berg, and others, have converted to the Black Diamond platform to reap the advantages of its open architecture and integrations with complementary solutions, while leveraging the Advent Custodial Data® network.

“One of the biggest reasons for moving from Advent’s Axys® to the Black Diamond platform was to see how much more efficiently we could manage money,” said Christopher Baker, Co-Founder and Chief Financial Officer, Winfield Associates. “With the Black Diamond platform, it’s just so easy to look across all the portfolios and slice and dice the data the way you want to.”

This year Black Diamond has forged new relationships with some of the most important firms in the advisory and wealth management space, such as Essex Financial Services and McGladrey Wealth Management. With more than 50 new releases in the last two years, Black Diamond continues to offer one of the most comprehensive portfolio management, reporting, and rebalancing platforms available. The platform helps clients present themselves as modern advisory and wealth management firms with sophisticated, flexible reporting and a high level of transparency for themselves and for their clients.

“Our decision to work with the Black Diamond platform has really allowed us to grow and to provide a higher level of quality service to our clients,” said Alex Gordon, Chief Operating Officer, Syntrinsic Investment Counsel.

“The Black Diamond platform made my toughest client, the one who stressed me out before, happy,” added David J. O'Brien, Financial Advisor, O’Brien Financial Planning, Inc. “A five-minute screen share of the Black Diamond platform truly impressed my toughest client—a complete turnaround in attitude.”

About Advent
Over the last 30 years of industry change, our core mission to help our clients focus on their unique strategies and deliver exceptional investor service has never wavered. With unparalleled precision and ahead-of-the-curve solutions, we've helped over 4,300 firms in more than 50 countries — from established global institutions to small start-up practices — to grow their business and thrive. Advent technology helps firms minimize risk, work together seamlessly, and discover new opportunities in a constantly evolving world. Together with our clients, we are shaping the future of investment management. For more information on Advent products visit

About Black Diamond
An independent business group of Advent Software, Black Diamond provides investment advisors and wealth managers with a cloud-based portfolio management platform offering aggregation, customizable reporting and rebalancing combined with fully outsourced daily reconciliation and data management service. With innovative technology backed by exceptional service, Black Diamond frees advisors to focus on serving clients and growing their business. More than 500 advisory firms have chosen Black Diamond to help manage more than $245 billion in assets. Learn more at

Advent, Advent Software, the Advent and logo composite, Axys, 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.

Amanda Diamondstein-Cieplinska
Advent Software, Inc.
(415) 645-1668