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 firmâs clients are individuals and trusts, the remainder foundations and endowments.
Silver Bridge had been a user of Adventâs suite of products including AxysÂ®, its turnkey portfolio accounting solution; MoxyÂ®, its leading trade order management solution; and QubeÂ®, 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 AxysÂ® and QubeÂ® 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.
âAPX 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 â not just transactional data or the financial data, but really all the portfolio data and the contact data,â said Chris Parker, Director of Operations at Silver Bridge. âThe 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.â
âWeâre 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,â said Michele Holton, Director of Product Marketing at Advent. âInvestors are always looking for superior performance from their managers, and itâs gratifying to hear that Advent is helping Silver Bridge to take their business to the next level.â