More Than 100 Customers Choose Advent Portfolio Exchange® (APX) for Integrated Front- and Back-Office Operations
Company Adds 15 Clients in First Quarter 2007, More than Double the Prior Year
SAN FRANCISCO – April 24, 2007 – Advent Software, Inc. (NASDAQ: ADVS), the leading provider of software and services for the investment management industry, today announced continued growth in the number of new clients choosing Advent Portfolio Exchange® (APX), the Company’s next-generation platform for portfolio management, reporting and client relationship management.
Advent added 15 new APX clients during the first quarter ended March 31, more than double the six APX client wins in the comparable period of 2006. With some APX sales early in the second quarter, the total number of APX customers is now more than 100.
“We’ve relied on Advent technology to provide advisory services to clients for many years, and the move to APX will enhance our ability to better service our clients, which is a critical a measure of our success, “ said Gary Bonner, Senior Vice President of Avalon Advisors, LP. Avalon Advisors, LP, based in Houston, manages equity, fixed income and balanced portfolios for wealthy families and the endowments, foundations and trusts they serve. Avalon currently has over $2.7 billion in assets under management.
“We are thrilled with the continued growth in our business and the strong demand for Advent Portfolio Exchange®,” said Stephanie DiMarco, Founder and CEO of Advent Software. “APX represents the next generation of Advent’s commitment to providing the industry’s most innovative, mission-critical portfolio management platforms, and its rapid market adoption is proof that APX can help our clients grow their businesses and deliver superior service to their own clients.”
About Advent Portfolio Exchange®
Advent Portfolio Exchange® (APX) is Advent’s next-generation portfolio management product, which fully integrates the front office functions of client relationship management (CRM) with the back office operations of portfolio accounting and reporting. This enterprise solution leverages a single SQL database to deliver critical client information via an easy-to-use browser-based user interface. APX delivers improved client service with enhanced security for today’s amplified compliance environment.
Advent Software, Inc. (www.advent.com
), a multi-national firm, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $14 trillion. 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 Support Center Practices certification for being a world-class support organization.
Advent 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.
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 Web site at www.advent.com