Silver Bridge Leverages Advent Portfolio Exchange® to Reduce Costs

6 November 2008

Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the investment management industry, today announced that Silver Bridge implemented Advent Portfolio Exchange® (APX) to take advantage of its detailed performance reporting and integrated client relationship management (CRM) capabilities. APX is Advent’s award-winning portfolio and client management platform.

Founded more than 80 years ago, Boston-based Silver Bridge (formerly Hale & Dorr Wealth Advisors) provides clients with access to a high-quality set of proprietary products and a broad-based set of select external managers, both traditional and alternative. Around 75% of the firm’s clients are individuals and trusts, the remainder foundations and endowments.

Silver Bridge had been a user of Advent’s suite of products including Axys®, its turnkey portfolio accounting solution; Moxy®, its leading trade order management solution; and Qube®, its solution for CRM. In the past, the firm relied on a third party to provide the more detailed performance reporting many clients required. Silver Bridge recognized an opportunity with APX to eliminate that step and expense, as well as integrate CRM capabilities, and decided to migrate from Axys® and Qube® to APX.

The move to APX enabled Silver Bridge to bring its performance reporting in-house and to deliver a more robust reporting package to its clients. APX incorporates both comprehensive performance reporting and performance analytics to help managers better understand and explain the sources of performance. As the first portfolio management system to integrate portfolio accounting and reporting with full CRM functionality, APX lets Silver Bridge monitor existing relationships more closely, while pulling new business through the pipeline.

“APX allows us to go about our business with confidence, flexibility, and control; and the biggest impact for us has been more confidence that our data is clean – not just transactional data or the financial data, but really all the portfolio data and the contact data,” said Chris Parker, Director of Operations at Silver Bridge. “The manner in which we utilize Advent and APX is a key component of our growth strategy going forward. We are definitely a shop that believes in leveraging the technology we are paying for and getting the most out of it. In fact, we believe it is integral to growing the business efficiently.”

“We’re very pleased that APX has enabled Silver Bridge to eliminate the expense of an outside service for reporting and is helping them with business development by integrating CRM capabilities,” said Michele Holton, Director of Product Marketing at Advent. “Investors are always looking for superior performance from their managers, and it’s gratifying to hear that Advent is helping Silver Bridge to take their business to the next level.”

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