Independent Advisors Turn to Advent Software to Meet Technology Needs

Independent Advisors Turn to Advent Software to Meet Technology Needs

Advent’s Award-Winning Integrated Suite, Available in a Variety of Deployment Options, Helps Simplify Transition for Startup Firms

SAN FRANCISCO – March 26, 2009 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that it has seen continued demand for its software from independent advisors.  According to a recent report by Aite Group, Wealth Management Goes Independent, one in four advisors is considering going independent as a result of the current market turmoil, mergers, business closures and changing fee structures.

DLK Investment Management, an independent SEC-registered investment advisor, turned to Advent to get its operation up and running when it opened its doors two months ago.  “Advent helped us to get our business off to a running start by providing us with a turnkey solution that meets our portfolio accounting and reporting needs,” said Donald Dempster, Managing Director, DLK Investment Management.  “Being able to automate processes enables us to focus on our clients’ investment needs without having to increase overhead costs.  We are very pleased to have Advent as our technology partner.”

With over 4,500 investment management clients, ranging from independent advisors just getting started to global institutions managing billions in assets, Advent has been helping firms grow their businesses while controlling costs since 1983.  New clients list several key factors in selecting Advent as their technology partner, including the Company's 25-year track record, its innovative and reliable product offering, and its superior service and support.

“Advisors who are supported by a fully integrated technology environment spend the majority of their time (52%) with clients — about 50% more time than the average advisor,” notes Aite Group Senior Analyst Alois Pirker.  “At the same time, a fully integrated technology environment reduces advisors' administration burden by 33% and their compliance efforts by 30%.”

Advent offers a suite of products designed specifically for independent advisors.  Encompassing the entire investment management process, Advent solutions and services improve operational efficiency, reduce risk, enhance client service, and free investment managers to focus on growing their business. The suite offers customizable and scalable solutions for firms of all sizes and strategies including:

  • Choice of deployment options: installed, hosted or fully outsourced
  • Portfolio Management
  • Integrated Client Relationship Management
  • Customizable Reporting
  • Client Statement Automation
  • Trade Order Management
  • Compliance
  • Data Reconciliation
  • Revenue Management and Invoicing
  • Research Management 
  • Partnerships and relationships with key service providers

 “Independent advisors need the capabilities and efficiencies that Advent technology delivers, but they also need the freedom and flexibility to focus on servicing clients and delivering results,” said Anthony Sperling, Senior Vice President and General Manager of Investment Management Group at Advent.  “Whether outsourced or installed, Advent’s technology suite is designed for scalability so that we can help firms grow without disruption.  Our diverse lineup of best-of-breed solutions enables new firms to compete with established firms right from the start.”

Concluded Aite’s Pirker, “Those independent advisors who get the technology questions right will be in the best position to grow their business substantially while keeping their costs under control.”

About Advent
Advent Software, Inc. (, a global company, has provided trusted solutions to the world’s leading financial professionals since 1983.  Firms in 60 countries use Advent technology.  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 costs.  Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support organization.  For more information on Advent products, click here.

Forward-looking Statements
Any forward-looking statements included in this press release involve risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include continued sales of existing products, market acceptance of new products, the impact of initiatives by competitors, changes in market and economic conditions and other risks detailed in Advent’s most recent filings with the Securities and Exchange Commission, including, but not limited to, its quarterly reports on Form 10-Q and its 2007 annual report on Form 10-K/A, copies of which may be obtained by contacting Advent Software at (415) 645-1787 or by visiting Advent’s Investor Relations Web site at

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

Media Contact:
Jessica Miller
Advent Software, Inc.        
(415) 645-1668