Kovitz Investment Group, LLC® Chooses Advent Portfolio Exchange® for Integrated Portfolio Management
Investment Advisor Implements Single Source Portfolio Management and Customer Relationship Management (CRM) Solution to Enhance Customer Service
SAN FRANCISCO – March 5, 2007 – Advent Software, Inc. (NASDAQ: ADVS), the leading provider of software and solutions for the investment management industry, today announced that Kovitz Investment Group, LLC®, or KIG®, a Chicago-based investment advisor with $925 million in assets under management, recently implemented Advent Portfolio Exchange® to streamline the firm’s operations and integrate CRM functionality into the firm’s portfolio management processes.
KIG®, a long-time Advent client using Axys® for portfolio accounting, has more than doubled its assets under management in recent years and has seen an increase in customization and services requests from their expanding client base. With Advent Portfolio Exchange®, they recognized the opportunity to consolidate disparate client databases and gain enhanced security and improved CRM capabilities, while accommodating current and future growth.
“KIG® has grown from $375 million in assets three years ago to $925 million today, and we plan to continue growing,” said Bruce Weininger, Principal, KIG®. “We wanted a single system for portfolio accounting, CRM, client reporting and performance reporting so that our data would all be in one, easily accessible place, and we were looking for a solution that could grow with us. The Advent Portfolio Exchange® platform delivers all of this for us and the resulting time savings and increased efficiency in our operations is significant.”
Advent Portfolio Exchange® is Advent’s next-generation portfolio management technology, fully integrating the front office functions of CRM with the back office operations of portfolio accounting and reporting. More than 80 clients worldwide have purchased Advent Portfolio Exchange®, an enterprise solution that leverages a single SQL database to deliver critical client information via an easy-to-use, browser-based user interface, as well as enhanced security for today’s amplified compliance environment.
KIG® also uses Advent® Custodial Data, which seamlessly integrates with Advent Portfolio Exchange®, for straight-through processing and reconciliation of accounts. Advent® Custodial Data collects, consolidates and electronically delivers secure, standardized custodial data, giving KIG® the operational flexibility to do business with a wide range of custodians.
“An increasingly competitive landscape and the rise of more sophisticated investors are driving asset managers to seek out solutions with integrated CRM functionality so that they can be more responsive to the needs of their clients,” said William Penney, Senior Director of Product Marketing at Advent. “Advent’s solution combines STP, client management, statement automation tools and portfolio management into a single platform, making client reporting significantly easier and faster for our customers on a system that readily supports future growth.”
About Advent Software
Advent Software, Inc., a multi-national company, has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in more than 60 countries use Advent technology and manage investments totaling more than US $14 trillion. Advent's quality software, data and services enable financial professionals to improve service and communication to their customers, allowing them to grow their business while controlling costs. Advent is the only financial services software company to be awarded the Support Center Practices certification for being a world-class support organization.
Advent, Axys 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.