SAN FRANCISCO – November 5, 2008 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the investment management industry, today announced that Silver Bridge implemented Advent Portfolio Exchange® (APX) to take advantage of its detailed performance reporting and integrated client relationship management (CRM) capabilities. APX is Advent’s award-winning portfolio and client management platform.
Founded more than 80 years ago, Boston-based Silver Bridge (formerly Hale & Dorr Wealth Advisors) provides clients with access to a high-quality set of proprietary products and a broad-based set of select external managers, both traditional and alternative. Around 75% of the firm’s clients are individuals and trusts, the remainder foundations and endowments.
Silver Bridge had been a user of Advent’s suite of products including Axys®, its turnkey portfolio accounting solution; Moxy®, its leading trade order management solution; and Qube®, its solution for CRM. In the past, the firm relied on a third party to provide the more detailed performance reporting many clients required. Silver Bridge recognized an opportunity with APX to eliminate that step and expense, as well as integrate CRM capabilities, and decided to migrate from Axys® and Qube® to APX.
The move to APX enabled Silver Bridge to bring its performance reporting in-house and to deliver a more robust reporting package to its clients. APX incorporates both comprehensive performance reporting and performance analytics to help managers better understand and explain the sources of performance. As the first portfolio management system to integrate portfolio accounting and reporting with full CRM functionality, APX lets Silver Bridge monitor existing relationships more closely, while pulling new business through the pipeline.
“APX allows us to go about our business with confidence, flexibility, and control; and the biggest impact for us has been more confidence that our data is clean – not just transactional data or the financial data, but really all the portfolio data and the contact data,” said Chris Parker, Director of Operations at Silver Bridge. “The manner in which we utilize Advent and APX is a key component of our growth strategy going forward. We are definitely a shop that believes in leveraging the technology we are paying for and getting the most out of it. In fact, we believe it is integral to growing the business efficiently.”
“We’re very pleased that APX has enabled Silver Bridge to eliminate the expense of an outside service for reporting and is helping them with business development by integrating CRM capabilities,” said Michele Holton, Director of Product Marketing at Advent. “Investors are always looking for superior performance from their managers, and it’s gratifying to hear that Advent is helping Silver Bridge to take their business to the next level.”
About Advent Portfolio Exchange®
Advent Portfolio Exchange® (APX), Advent’s next generation portfolio management product, 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. For more information, click here.
Advent Software, Inc. (www.advent.com), a global company, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology. 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 organization. For more information on Advent products, click here.
The Advent logo, Advent Software, Advent Portfolio Exchange, Axys, Moxy and Qube are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.