Leading RIA Firms Rely on Advent’s Wealth Management Platform

Leading RIA Firms Rely on Advent’s Wealth Management Platform

More than 70 Percent of Largest RIA Firms are Advent Clients

SAN FRANCISCO – December 23, 2010 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, announced today that 36 of the 50 largest fee-only U.S. registered investment advisors (RIAs) are Advent clients, including eight of the top ten, according to the latest RIA Database Top 50 Report.  

Advent provides a complete wealth management suite of products designed specifically for the unique workflow and business requirements of RIA firms.  The suite offers customizable and scalable solutions for firms of all sizes and strategies, including performance reporting, client relationship management, rebalancing, asset allocation and compliance.  In addition, Advent has the largest network of custodians providing complete straight-through-processing and reconciliation.  Advent’s wealth management platform enables over 3000 advisor customers to efficiently attract and grow assets while delivering the highest level of service to their clients.

Advent also offers RIAs a wide range of delivery options for its solutions including its locally installed model, and a Software-as-a-Service model through Advent OnDemand®, with hosted options ranging from hardware and application hosting to full business process outsourcing.  Unlike the limited range of options available from smaller, outsourced-only solution providers, Advent’s choice of delivery options gives independent firms a clear growth path.

Anthony Sperling, Senior Vice President and General Manager of Advent’s Investment Management Group, commented, “Thousands of RIA firms have successfully grown their businesses with the help of Advent’s wealth management platform.  Our full suite of innovative and reliable solutions and the flexibility of deployment options we offer make Advent one of the only established firms that can provide RIAs the range of services they need as they grow their business.  Factor in our industry-leading level of service and support and our 27 years in the business, and Advent’s value proposition is compelling to the entire RIA community, from the smallest to largest firms.”

The latest RIA Database Top 50 Report ranks firms by discretionary assets under management as defined by the SEC as of September 30, 2010. Firms included in the ranking have to meet certain criteria. More than half their business must serve the retail marketplace and they must provide wealth management services. They must provide financial planning, portfolio management, or due diligence on third-party advisers. They must not be broker-dealers, charge commissions, employ registered representatives, or have a majority of their business in proprietary products. The top 50 firms meeting these criteria range in size from $1.43 to $10.97 billion.

About Advent
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983.  Firms in more than 50 countries rely 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 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 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.
 

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