San Francisco, November 1, 2005 – Advent Software, Inc. (NASDAQ: ADVS) announces that Lowe, Brockenbrough and Company, Inc. has selected and is now in production on Advent Portfolio Exchange™, Advent’s next-generation portfolio accounting, reporting and client relationship management platform. Lowe, Brockenbrough, serving institutional and high-net worth clients, recently completed installation of Advent Portfolio Exchange™.
“Our success depends on our responsiveness to our clients. The benefits we receive from Advent Portfolio Exchange™, including its seamless integration to third-parties such as trading partners and the DTC, its ease of use, and its efficient Straight-Through Processing design, will enable us to provide better service to our clients,” said David Lyons, CFA, Managing Director at Lowe, Brockenbrough.
Advent Portfolio Exchange™ is a comprehensive new offering from Advent designed to manage the full range of investment operations from the early stages of client prospecting through to client reporting. The new product leverages Microsoft technology, including an SQL database, .NET technology and a web-based user interface. It also features robust portfolio management and reporting; integrated client management; single relational database with advanced user security, transaction management and audit features; enhanced fixed income functionality; and customizable online reporting for client and portfolio information.
“Advent is an industry leader, and we’re very impressed with the company’s technology direction, particularly the comprehensive features of Advent Portfolio Exchange™ on an open architecture platform,” said David Sanderlin, Lowe Brockenbrough’s Manager of Information Technology. “They’ve worked hard to understand our unique environment, and have committed the required resources throughout the implementation process. We are looking forward to a very successful relationship going forward. Advent is clearly demonstrating that they’re working hard to support the investment management industry with innovative new products.”
“We’re extremely pleased to be working with Lowe, Brockenbrough as one of our first clients on Advent Portfolio Exchange™. Our ability to interest such leading firms as Lowe, Brockenbrough in Advent Portfolio Exchange™ gives us great confidence that this platform will meet the demands of the industry’s most sophisticated firms,” said William Penney, Advent’s director of product marketing.
ABOUT LOWE, BROCKENBROUGH AND COMPANY, INC.
Founded in 1970 on the strong belief that an investment advisory organization could best serve clients as an independently owned firm, free from potentially conflicting agendas and devoted solely to the interests of its clients. Since its inception, the firm has been committed to conducting business and building relationships on a foundation of trust, integrity and stability. The primary business function of the firm is to work with clients to achieve their long-term investment goals. It is the continuous dedication to producing positive investment returns while monitoring each client’s portfolio results that is the key to the firm’s success over the years.
Advent Software, Inc., a multi-national company, has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 50 countries using Advent technology manage investments totaling more than US $8 trillion. Advent's quality software, data and services enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs.
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 market acceptance of new products, the impact of initiatives by competitors, and other risks detailed in Advent’s filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, as amended, copies of which may be obtained by contacting Advent Software at 415-645-1787, or by visiting Advent’s Investor Relations website at www.advent.com.
ADVENT is a registered trademark and ADVENT PORTFOLIO EXCHANGE is a mark of Advent Software, Inc. or its subsidiaries. All other company names or marks mentioned herein are those of their respective owners.