Profile: Advent Software Inc (ADVS.OQ)
9 Dec 2013
Advent Software, Inc. (Advent), incorporated in 1983, offers software and services, which automate work flows and data across investment management organizations, as well as the information flows between an investment management organization and external parties. Its business derives revenues from the development, marketing and sale of software products, hosting services, data interfaces and related maintenance and services that automate, integrate and support mission-critical functions of investment management organizations globally. Its Software-as-a-Service (SaaS)-based product offerings include Advent OnDemand which includes its product offerings delivered over the Web and hosted either by Advent or by a third party, and Black Diamond, which is available only over the Web and hosted by Advent. On June 1, 2011, the Company acquired Black Diamond Performance Reporting LLC (Black Diamond). On February 28, 2011, Advent acquired Syncova Solutions Ltd. (Syncova).
Geneva is a global portfolio management platform designed to meet the real-time needs of global asset managers, hedge funds, prime brokers, fund administrators, private equity firms and family offices globally. Geneva integrates all phases of the investment management process, which include portfolio management, accounting and reporting, client investor management, reconciliation and light trade capture and risk capabilities. Advent Portfolio Exchange (APX) is a portfolio management solution for asset managers and wealth managers globally, which integrates the front-office functions of prospecting, marketing, and customer relationship management and internal business management with the back-office operations of portfolio accounting, performance measurement and reporting. It allows firms to manage both high-net worth and institutional clients through a range of capabilities, including customized reporting, automated report packaging and performance analytics and automated investor servicing. APX is deployed locally, as well as through the cloud and comes with a range of additional services, including full back office outsourcing.
Axys is a turnkey portfolio management and reporting system for small to mid-size investment management organizations. Axys provides investment professionals with portfolio accounting functionality on a range of investment instruments, including equities, fixed income, mutual funds and cash. By using Axys, clients have a timely decision support tool with immediate access to portfolio holdings, asset allocation, realized and unrealized gains and losses, actual and projected income and other data, including performance measurement and reporting. In addition to a range of standard reports, clients can generate customized reports with the assistance of Report Writer Pro, which is included with the product.
Tamale RMS (Research Management Solution) is a software solution, which helps portfolio managers and analysts capture, access and share their research and document a firm's investment process. Tamale RMS creates a research workspace with the portfolio managers' and analysts' research-related information, such as notes, reports, financial models, contacts, calendar appointments and essential Web sites at their fingertips. Moxy automates and streamlines the portfolio construction, trading and order management process for the investment management community. Moxy also provides Internet-ready electronic order routing based on the Financial Information eXchange (FIX ) messaging protocol so that users can route trades electronically to any FIX-compliant broker, crossing networks, and dark pools of liquidity that supports the Internet or other transmission control protocol (TCP)/ Internet protocol (IP) connection. Trades are executed, processed, settled and accounted for without manual intervention. Moxy enables internal and external straight-through-processing through various post trade interfaces and brings together mission-critical functions across investment management organizations.
Advent Rules Manager is an integrated solution that meets investment management firms' trading compliance and portfolio monitoring requirements. Advent Rules Manager is a rules-based system, which enables firms to define their trading and portfolio policies easily and accurately, and automates their control and review. Automated record keeping and easy reporting save time and eliminate the cost of hiring additional resources. Firms can manage portfolios, trading, compliance workflow, and safeguard their client commitments. Advent Revenue Center provides asset managers with a solution, which automates complex billing processes, from fee creation to accounts-receivable management. This solution integrates with Advent's proven suite. It has a rules-based billing structure approach. Advent Partner Featuring World Investor is a source solution for onshore and offshore investor accounting and servicing. It integrates with Axys, APX and Geneva. This product is designed for hedge funds, family offices, fund administrators, and accounting firms that face the complex and task of accounting for and reporting on investor contributions and redemptions, capital gain/loss and income allocations, and management incentive fees. In addition, Advent Partner Featuring World Investor provides economic and tax allocation reporting and streamlines the production of US K-1 partnership tax returns.
Rex enables reconciliation management. Rex is integrated with Axys and APX and is designed for firms that want to reconcile information stored in Axys or APX against custodial information electronically. Rex works in conjunction with Advent Custodial Data, which provides data from a firm's custodian(s). Syncova Margin, Syncova Financing and Syncova Essentials are a family of configurable calculation solutions that facilitates the management and transparency of margin, financing and stock borrow terms and fees. The Syncova solutions include Syncova Margin, Syncova Financing and Syncova Essentials and are designed to address the relationships between hedge funds and prime brokers, Syncova solutions enable customizable rule definition, analysis, reconciliation, replication, optimization, alerting and reporting. Syncova Margin and Syncova Financing are available on a locally installed basis, and Syncova Essentials is available as a hosted solution.
Tradex is for organizations seeking a solution for managing and distributing funds. With Tradex, an unlimited amount of funds and their associated order types are made available to client advisors, branches, agents and the end clients. The order flow from initiation to back-office and through to the funds' administrators becomes automated-process which otherwise is labor intensive and error prone. In addition to subscriptions and redemptions, Tradex handles fund switches, model orders, savings/pension plans, currency dealing, and fund and cash transfers. Tradex also manages fees and sales commissions.
Advent General Ledger Exchange (Advent GLX) is a general ledger (GL) interface. With Advent GLX, clients can import portfolio transactions and unrealized gains and losses from APX and Axys, translate portfolio data into GL journal entries, and export directly into their ledger systems. Advent Browser Reporting for Enterprise Users allows investment professionals the ability to access Axys from remote locations through the Internet and run Axys reports. Advent Warehouse is a data warehouse solution designed to allow investment professionals to access investment data.
Advent OnDemand is the SaaS delivery of Advent's suite of investment management solutions, which are hosted either by Advent or by a third party and are offered with or without fully outsourced data management services. Data management services include full account aggregation, daily portfolio reconciliation, corporate actions processing and reference data management. Black Diamond offers a purpose-built platform for independent advisors and wealth managers, which provide dynamic portfolio management and reporting delivered through an easy-to-use, Web-based application. Advisors can access Black Diamond's customizable portfolio management and reporting online from anywhere, anytime without the need to maintain costly technology infrastructures. Black Diamond also provides outsourced daily reconciliation and data management services.
Data and Data Integration Services
Advent Custodial Data (ACD) enables firms to retrieve and reconcile accounts through a single, standard, Advent-supported solution. ACD uses direct-feed interfaces to consolidate account level information from more than 1,000 custodial sources. The data can then be used for reconciliation and posting into Advent's portfolio management, accounting and reporting systems, APX, Geneva and Axys. With efficient reconciliation, firms can maintain accurate cash and securities balances, reduce settlement risk, produce client statements earlier and ensure compliant trading. Advent Corporate Actions (ACA) is a straight-through-processing service, which delivers customized, position-level corporate action reports for a range of action and security types, along with market effective transactions for the United States and Canadian equity and American depository receipts (ADR) events, including tax compliant details. Using ACA, firms can track actions from announcement through effective date, receive alerts containing revisions and processing tips and gain access to a team of corporate action specialists who assist advisory staff with processing details and the interpretation and confirmation of complex tax opinions. Advent Index Data is the Company’s subscription-based and transaction-based service and allows clients to download pricing, corporate actions and other data from third party vendors, such as Financial Times/Interactive Data (FTID).
Support and Maintenance Services
The Company’s term license customers receive support and maintenance services as part of the term license offering. It offers a tiered support structure to meet the diverse needs of its client base. Advent's services are scalable. Advent Plus is the foundation of its support plans and includes access to the Advent Support Center to help ensure system performance without interruption and access to Advent product upgrades and enhancements, including Securities & Exchange Commission (SEC) regulatory and CFA Institute compliance updates. Advent Preferred offers access to seasoned support representatives. In addition to the services of the Advent Plus plan, Advent Preferred offers access to support representatives and incident escalation for addressing resolution of questions and issues; additional support hours, and migration planning sessions. Advent Pinnacle is provided to all Geneva clients and provides unlimited access to its experienced team of support representatives. In addition to the services included in Advent Preferred, Advent Pinnacle provides support coverage, including scheduled extended hours support, unlimited support hours, access to Advent product and technical experts, and features, including industry networking events and built-in discounts to Advent Professional Services.
Professional services consist of consulting, project management, implementation and integration services, custom report writing, and training. Advent's clients purchase professional services from it to support their implementations, assist in the conversion of their historical data and provide ongoing training and education.
The Company’s Alliance Program is designed to benefit its clients and its partners. The program provides a means by which partners can develop, promote, and sell their products, services, and solutions in conjunction with its solutions. Advent's Alliance Program was created to further extend its product and service offerings.
The Company competes with Broadridge Financial Solutions, Charles River Development, Fiserv, DST International, Bank of New York/Mellon Financial Corporation, NY ConvergEx Group, FactSet Research Systems, FT Interactive Data, the IBSI division of SunGard, INDATA, the LatentZero division of Fidessa group plc, Linedata Services, the Macgregor division of Investment Technology Group, Thomson Reuters, Schwab Performance Technologies, SimCorp A/S, SS&C Technologies, Tamarac, and Morningstar.
Advent Software Inc
600 TOWNSEND ST
SAN FRANCISCO CA 94103