Atlanta, GA and San Francisco, CA – December 15, 2011 – Homrich Berg and Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, announced today that they will continue their strategic relationship by migrating Homrich Berg’s $2.2 billion wealth management practice from Advent’s Axys® to the Black Diamond platform. Under the agreement, Black Diamond will provide innovative, web-based portfolio management, performance reporting and data reconciliation; tailored to the unique services that Homrich Berg provides its clients.
"Black Diamond shares our values and commitment to being a leader in delivering innovative solutions to clients," said Andy Berg, CEO of Homrich Berg. "As industry pioneers, we appreciate that Black Diamond brings the same entrepreneurial motivation to their business that has made us a success for over twenty-two years. With the backing from Advent, we are extremely confident in Black Diamond’s ability to help us achieve our goals for growth. We're delighted to be working with them and most of all delighted for the improved experience and information for our clients.”
Black Diamond will assume responsibility for significant back office operations, allowing Homrich Berg’s advisory team to focus more time on the needs of their clients. Customized reports and access to updated portfolio data through a web browser or an iPad app will provide clients with an aggregated view of their total assets.
“Black Diamond’s institutional quality performance and risk metrics allows Homrich Berg to dive deep into investment analysis, while the flexible intuitive graphical interface for clients allows easy usage for even the casual users of technology.” said Adam Fuller, Principal at Homrich Berg, “The new reports will provide an aggregated view of clients’ total assets that we manage including alternative investments and assets held away, which is important for a firm like ours that uses alternative investment strategies and has complex family office clients. The bottom line is Black Diamond gives us cutting edge technology, scalability to support our continued growth, and a better client experience.”
"Homrich Berg is a respected industry leader with very similar goals to Black Diamond,” said Reed Colley, Senior Vice President and General Manager, Black Diamond, Advent. “We connected from the start, sharing a similar focus of having a significant impact on the industry and providing exceptional service to our clients. We look forward to doing great things together that benefit Homrich Berg’s clients, as we continue on our mission: supporting advisors on their path to greatness with technology, service and innovation.”
About Homrich Berg
Founded in 1989, Atlanta-based Homrich Berg provides fee-only wealth management services to high-net-worth individuals, families and not-for-profits. Homrich Berg manages over $2 billion for over 700 client relationships nationwide. For more information, please visit www.homrichberg.com and www.homrichbergfamilyoffice.com
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. Black Diamond “BlueSky” is purpose-built to meet the evolving needs of advisory firms and more than 200 enhancements to the Black Diamond portfolio management and reporting platform have been released since its initial launch in June of 2010. For more information about Black Diamond products visit http://www.advent.com/solutions/by-product/black-diamond.
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. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization. For more information on Advent products visit www.advent.com/about/resources/demos/pr.
Advent, the Advent logo, Advent Software and are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.