San Francisco, CA, , December 16, 2002 - Advent Software, Inc. (Nasdaq: ADVS) is pleased to announce that Fleet National Bank, First Trust/DATAlynx and Chevy Chase Trust Company all have joined Advent TrustedNetwork® as account providers. Advent TrustedNetwork is a comprehensive network of custodian firms whose transactional-level investor account data is aggregated through an efficient single interface. This single interface to multiple custodians enables investment managers to add custodial partners without straining the technical resources of their back-office operations.
With the addition of these firms, more than 50 million accounts from over 300 participating custodians are now available on the network, providing investment management firms with even more choice of custodial partners through this continuously expanding network.
Expressing the value of the single-download capability to his firm, Advent client Jim McClendon of Pacific Financial Group says, “We work with several different custodians, and with the addition of First Trust/DATAlynx to Advent TrustedNetwork, we will now be able to download all of our custodial information though this one interface with Advent. It will make doing business with First Trust/DATAlynx much easier. Advent TrustedNetwork’s single point of integration helps us tremendously by allowing us to focus on our business, not on overseeing multiple data interfaces.”
“In building Advent TrustedNetwork our goal was to provide a highly efficient way in which financial services firms could download data from their choice of custodians,” said Brian Bailard, Vice President of Advent. “Advent TrustedNetwork is being used by wealth managers to deliver unparalleled service to high- and ultra-high-net worth clients. We’re extremely pleased with the industry’s adoption of the service.”
These firms join a growing number of custodians who are making their account data available through the network, including TD Waterhouse Institutional Services and Fidelity Investments Institutional Group, who were announced earlier this year.
Advent Software, Inc. has been providing trusted solutions to the world’s leading professional money managers since 1983. Firms in 55 countries use Advent technology to manage investments totaling more than US $8 trillion. Advent’s quality software, data, services and tools enable managers to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent’s common stock is traded on the NASDAQ National Market under the symbol ADVS.
Advent Software, Inc.
301 Brannan Street
San Francisco CA 94107