Advent Software (âAdventâ), Inc., (NASDAQ: ADVS), the leading provider of software and solutions for the global investment management industry, today announced that Ashland Partners has become a member of its Alliance Partnership program. Ashland Partners is the leading Global Investment Performance StandardsÂ® (GIPS) compliance and verification services firm. The partnership expands Adventâs portfolio of service offerings to provide Advent clients with the tools and resources to support full disclosure and fair representation of performance, helping to ensure compliance with both institutional and regulatory requirements.
Ashland Partners will assist Advent clients with building or fine-tuning a GIPS compliance framework through a scalable service offering including pre-verification and compliance consulting; GIPS verification; and performance examinations. Key features of the service offering include:
On-call access to GIPS expertise
Advent-Ashland data, service and product integration
Education and training
Industry best practices
As a result of this strategic partnership with Ashland Partners, Advent will be able to leverage its client and portfolio management products, AxysÂ® and Advent Portfolio ExchangeÂ® (APX), in facilitating GIPS compliance by offering data and product integration between the two products and Ashlandâs compliance tool.
âWe believe this collaborative service offering to enable Advent clients to become GIPS compliant and verified will give our clients a competitive advantage, helping them to attract new and larger accounts and reinforce their performance marketing,â said Anthony Sperling, Senior Vice President, Services. âThis partnership came about because Advent clients asked for a service offering that allowed them to link AxysÂ® and APX reporting directly to the GIPS verification process. Teaming up with Ashland Partners, a proven leader in the GIPS compliance and verification market, is a great move for us; nearly 80% of Ashlandâs clients are also Advent clients, demonstrating that Ashland is a proven solution for our customers.â
âWe are very excited about our new alliance partnership with Advent; we look forward to bringing immediate value to our clients through an enhanced service offering that leverages Advent's technical know-how and experience in the back office,â said Toby Cochran President of Ashland Partners & Co. LLP and Managing Director of Ashland Partners International Ltd. âAdvent, an institutional name in the industry and a fellow expert in the field, brings a wealth of knowledge and experience to this very unique collaborative offering.â