San Francisco, , June 19, 2001 - Advent Software, Inc. (Nasdaq: ADVS) the leading provider of Enterprise Investment Management (EIM) software, announces that U.S. Private Banking at Deutsche Bank and Vanguard Group have joined Advent TrustedNetworkSM and will provide account information to the network. Advent TrustedNetwork is a data service that collects account data from a variety of participating financial institutions, enabling advisors to deliver consolidated, online account information to their clients, regardless of where those accounts are custodied.
Advent TrustedNetwork leverages Advent's data gathering and reporting tools to enable financial institutions to aggregate and consolidate information from their clients' cross-institutional portfolios over the Internet. This enables an investor's financial advisor to provide more complete advice, for such purposes as tax planning and preparation, reviewing short- and long-term gains and losses, and historical performance comparisons.
More than three quarters of financial advisors asked responded that they would be able to provide better investment advice if they were able to view their clients' total portfolio-including assets held at other institutions, according to a recent study by Gomez Advisors on behalf of Advent Software. With Advent TrustedNetwork, financial institutions can provide true wealth management services for their investor clients, regardless of where their clients' assets are held.
Deutsche Bank's U.S. Private Bank and Vanguard Group are joining Advent TrustedNetwork as an Authorized Data Provider. Advent TrustedNetwork uses a secure, scalable infrastructure to transfer system-of-record information directly from the back office accounting systems of the world's largest and most respected custodians.
"Advent TrustedNetwork is seeing great momentum in the marketplace, and we're extremely pleased to welcome Deutsche Bank's U.S. Private Bank and Vanguard to the service," said Peter Caswell, President and Chief Executive Officer of Advent Software. "We're finding that the level of service that Advent TrustedNetwork allows advisors to offer binds the investor relationship not just to the advisor, but also to the firm for the long term."
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.
301 Brannan Street
San Francisco CA 94107