Broyhill was looking for a solution to help them free up resources internally so that they could dedicate their time to higher value activities. Prior to using APX through ABOS, Broyhill spent a tremendous amount of time and effort downloading positions from their custodian, uploading the data into portfolio management systems, and then reconciling positions back to client statements. It was a labor-intensive process that provided little value-add to their clients.
APX through ABOS enables Broyhill to have access to APX functionality without making a significant investment in technology infrastructure. Instead of installing, running, and managing the data in their offices, Adventâs ABOS operations team manages the data, provides daily reconciliation, and delivers APX functionality to Broyhill over the Internet.
â¢ High-quality data management, reconciliation and exception management to support investment decisions, performance measurement and presentation
â¢ Web-browser access to APX, which greatly reduces the need for costly hardware and IT personnel
â¢ A scalable, reliable portfolio management platform designed to evolve with the business
âWe needed a solution that would give us the advantage of the latest technology, but did not require operational and technical maintenance; APX through ABOS has allowed us to focus our attention on our core competencies â investing the capital of our clients and partners â by outsourcing day-to-day back office responsibilities and account administration,â said Christopher Pavese, Managing Director, The Broyhill Family Office. âWe are extremely pleased with the quality of data coming through, and Advent is able to provide us with âcleanâ numbers more quickly than we were able to deliver internally. This service works so smoothly, I can't see any reason why you would not outsource your back office.â
Of its 250 plus ABOS clients, Advent has fifteen customers already leveraging APX through ABOS to profitably and efficiently manage their businesses while delivering exceptional service to their clients.
âWe are very pleased to add Broyhill to our growing list of clients enjoying the benefits of Adventâs industry-leading solutions without having to manage IT infrastructure and data management processes,â said Michael Lobosco, Senior Product Manager at Advent. âWe believe APX through ABOS is a game-changing solution for advisors who are looking to outsource their back office business processes, but who are unwilling to sacrifice data quality, system functionality or reporting flexibility. Additionally, as part of the Advent suite of products, choosing ABOS provides advisors with unparalleled flexibility as their businesses evolve.â