H.D. Vest Chooses Advent’s Black Diamond Platform

H.D. Vest Chooses Advent’s Black Diamond Platform

Company Selects the Black Diamond Platform to Expand Advisory Reporting Capabilities

SAN FRANCISCO, CA AND IRVING, TX– November 12, 2012 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, recently announced that H.D. Vest Financial Services® (H.D. Vest) has transitioned its performance reporting to Advent’s Black Diamond platform to enhance their Advisors’ ability to communicate portfolio performance during client meetings. Through an implementation of the Black Diamond portfolio management and reporting platform accomplished in less than six months, H.D. Vest now has easy-to-access, robust, online reporting that can be tailored to each client’s needs.   

As an industry-leading independent broker/dealer and RIA with 4,800 affiliates, H.D. Vest takes great pride in continually evolving its fee-based business. After surveying its Advisors and prioritizing their portfolio reporting needs, H.D. Vest sought the expertise of Advent and the Black Diamond team who offered a quick and efficient implementation to an expansive user base of close to 40,000 client accounts. In particular, H.D. Vest’s Advisors were interested in having an enhanced quarterly performance report along with expanded on-demand reporting capabilities to meet their clients’ needs. Now, by leveraging Advent’s Black Diamond platform, H.D. Vest has access to:

  • A dynamic online platform for Advisors to access anywhere at any time
  • Customizable and flexible performance reporting, including on-demand and on-screen
  • Operational productivity through outsourced data management and reconciliation

“Its ‘best of breed’ quarterly performance reports and expansive ad hoc reporting capabilities are why we chose Advent’s Black Diamond platform,” said Neal Heifetz, H.D. Vest executive manager of Operations. “Black Diamond’s exceptional technology and service enable us to further support the growth of our Advisors’ fee-based business.”
“H.D. Vest has a great reputation for serving its Advisors, and we are honored to be able to provide them with the robust tools they need to provide great service to their clients,” said Dave Welling, vice president of Black Diamond, an independent business unit of Advent Software, Inc. “We are excited to be working with the highly experienced H.D. Vest leadership team, and have enjoyed joining forces to accomplish the implementation. Being selected by such a large firm with a significant amount of assets under management further validates our ability to help scale and support H.D. Vest’s vision for the future growth of their business.”

About Black Diamond
As an independent business unit within Advent, Black Diamond’s mission is to support and cultivate advisor greatness by providing the best combination of technology, service and innovation in the industry. The Black Diamond platform is purpose-built to meet the evolving needs of advisory firms and currently supports over 350 advisory firms representing over $125 billion in assets under management. For more information about Black Diamond products, visit: http://www.advent.com/solutions/by-product/black-diamond.

About Advent
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Firms in more than 60 countries count 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 operational risks and costs. For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.

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

About H.D. Vest Financial Services
H.D. Vest Financial Services supports an independent network of tax and non-tax professionals who provide comprehensive financial planning solutions, including securities, insurance, money management services and banking solutions. Approximately 4,800 independent contractors manage over $28 billion in assets for some 1.8 million individuals, families and small businesses in all 50 states.

For more information, visit www.hdvest.com.

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

Laura Jocoy
H.D. Vest
(972) 870-6258