Industry Updates

Advent updates its Asset and Wealth Management platform

Monday, November 12, 2012

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Opalesque Industry Update - Advent Software, Inc., a provider of software and services for the global investment management industry, has announced the global availability of its update to the company’s platform for asset and wealth management. This release provides significant improvements to components of the platform. The platform is comprised of Advent Portfolio Exchange® (APX), Moxy®, Advent Rules Manager®, Advent Revenue Center®, Advent® General Ledger Exchange (Advent® GLX), Tradex®, Advent Corporate Actions® (ACA), and Advent Custodial Data® (ACD) and is now further enhanced to support key workflows and data access across the entire investment process.

“We are excited to introduce this release to the global market as these updates give asset and wealth managers a more comprehensive dashboard to see and manage their portfolios, reconcile accounts and increase the speed by which they can respond to changes in the market,” said Pete Hess, President and CEO, Advent Software. “With regular updates to the platform we provide investment managers with the functionality they rely on from a partner to run their business from front to back office across departments. We are committed to developing and enhancing our solutions to help remove the boundaries between systems and information in order to help our clients thrive.”

A few highlights of the new release include increased instrument coverage, ranging from improvements in accounting and reporting of Private Equity investments to connectivity with third party vendors for more efficient fixed income trading. Users can expect to see enhanced interfaces, more robust dashboards and improved client reports including an expanded business intelligence solution for asset and wealth managers. This release also boasts a new tool to facilitate the reconciliation process, which strives to remove barriers in order to streamline business operations.

“We’re going to bring clarity between the back and front office with the new reconciliation toolset,” said Bob Stiess, Business Systems Manager at Wasmer, Schroeder & Company, one of the beta testers for the updated platform. “By taking position reconciliation from a report based process to a database operation, both back office staff and portfolio managers will be able to see the reconciliation status of portfolios in real-time. This transparency reduces time consuming emails and phone calls about reconciliation, and improves everyone’s confidence in the portfolio data.”

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