Washington, DC, September 6, 2001 - Advent Software, Inc. (Nasdaq: ADVS) the leading provider of Enterprise Investment Management (EIM) software, announced today at its annual Fall Conference here that Firstar Institutional Custody Services, Hale and Dorr Capital Management LLC, State Street Fiduciary Investor Services Group and UMB Bank all have joined Advent TrustedNetwork® and will provide account information to the network.
Advent TrustedNetwork is a data service that collects account data from a variety of participating financial institutions, enabling advisors to deliver consolidated, online account information to their clients, regardless of where those accounts are custodied.
"With the investment management industry more competitive than ever, it is imperative that firms look for new ways to better serve their clients," said David Beckwith, managing director for Hale and Dorr Capital Management LLC. "We chose Advent Software in order to increase efficiencies in all of our investment functions and to deliver better, more complete service to our clients."
Advent TrustedNetwork leverages Advent's data gathering and reporting tools to enable financial institutions to aggregate and consolidate information from their clients' cross-institutional portfolios over the Internet. This enables an investor's financial advisor to provide more complete advice, for such purposes as tax planning and preparation, reviewing short- and long-term gains and losses, and historical performance comparisons.
"We're always looking for more efficient ways to provide our institutional custodian clientele with the information they need to wisely invest their money," said Lawrence A. Woodcock, senior vice president at Firstar Institutional Custody Services. "We feel Advent TrustedNetwork is the most enhanced method to do this."
The above firms are joining Advent TrustedNetwork as Authorized Data Providers. Advent TrustedNetwork uses a secure, scalable infrastructure to transfer system-of-record information directly from the back office accounting systems of the world's largest and most respected custodians.
"We are extremely pleased with the rate at which firms are coming on board to participate in Advent TrustedNetwork," said Brian Bailard, Vice President of Advent's Wealth Management Solutions Group. "Advent TrustedNetwork is unique in the industry as it remains the only solution for firms who require high-level investment quality data."
Advent Software, Inc. is the leading provider of Enterprise Investment Management solutions. The company provides a suite of complementary products for the front, middle and back offices of investment management organizations. The company's common stock is traded on the NASDAQ National Market under the symbol ADVS.
Advent Software, Inc.
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