Highmount Capital LLC and ByAllAccounts Spearhead Development of Custodial Interface to Advent Axys

Highmount Capital LLC, a New York and Boston based multi-family office with $800 million under management, has achieved enhanced efficiency through their development of a custodial interface to the Advent Axys accounting system. Highmount was the initial development partner with ByAllAccounts, a Woburn, MA-based firm, which provides account aggregation services employed by nearly 6,000 users representing over $16 billion in assets.

Maarten van Hengel, a founding Partner at Highmount, believes "the need for development of an electronic interface with multiple custodians was key in providing valued added advice for our clients." Highmount Capital has been using ByAllAccount’s flagship WebPortfolio service as their client internet access solution. During 2003, Highmount developed software enabling WebPortfolio
to interface over the internet with Highmount’s portfolio system, Advent Axys.

This software eliminated approximately 40% of Highmount’s manual administration requirements. Previously, their operations team was manually entering thousands of transactions per month from custodians for whom no interface was available. Coupling WebPortfolio and their interface meant that data could be obtained electronically and, once reviewed, fed seamlessly into the firm’s Advent

Due to the vision and success of Highmount Capital, ByAllAccounts has taken on the sales, marketing and development responsibilities, in order to offer this solution as a commercially available product named Axys Custodial Integrator ("ACI"). ACI, currently in beta testing, has been developed with three imbedded services: transaction interface, security pricing and position reconciliation.

James Carney, Chairman of ByAllAccounts, added "aggregation technology has gained a foothold in the wealth management community. We see the integration offered by interfaces such as ACI as being the key catalyst to stimulate broad adoption. Within a few years we expect that aggregation will be part of the fabric of how all wealth managers do business, and ACI will be the stimulus
toward reaching that goal."

For more information:
Maarten R van Hengel
Highmount Capital LLC
New York
Robert Huebscher
Woburn, MA
781-376-0801 x 129

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