Advent Marks One-Year Anniversary of Black Diamond Acquisition

San Francisco, CA - 6 June 2012

Product Investment, Footprint Expansion and New Hires Demonstrate Advent’s Ongoing Commitment to Supporting Investment Advisors

Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced the one-year anniversary of its acquisition of Black Diamond, the leading provider of web-based, outsourced portfolio management and reporting platforms for independent advisors. Since the acquisition, Advent has fueled the ongoing development of Black Diamond’s platform and service offering, strengthened leadership with strategic hires and established an integrated sales and solutions consulting team to work with current and prospective clients on their future technology needs.

“Over the last year, Black Diamond and Advent have focused on bringing our organizational strengths together to continue to serve our clients with the best possible solutions for their businesses,” said Reed Colley, Senior Vice President and General Manager, Black Diamond. “A year ago, our clients told us they wanted to see us continue to innovate and to keep delivering personalized service, and we’ve been excited about our ability to execute on that charter as a combined entity. The infusions of industry expertise, resources and talent that come from working together as Advent have enabled us to accelerate our growth and product development. We plan to continue to add fuel to our engine and have so many exciting opportunities ahead to help our clients in even more powerful ways. I personally look forward to, and am humbled by, the opportunity to continue helping advisors on their path to greatness.”

“The addition of Black Diamond’s people and award-winning solution to the Advent family has been a terrific win for us as a company and for the industry we serve” noted Pete Hess, President, Advent Software. "Through the acquisition, both organizations are able to provide stronger, better solutions for advisors. I’m proud of the work we’ve done and look forward to the things we will accomplish together in the future.”

Continuing to Innovate and Deliver Value to Advisors

Black Diamond has continued to enhance the capabilities of its platform and value for clients through ongoing innovation. In the past year, Black Diamond has developed a native rebalancing solution that integrates seamlessly with the core Black Diamond portfolio management and reporting platform. The rebalancing solution is currently in beta with over 50 Black Diamond clients and is expected to be generally available to additional advisors in mid-2012. Additionally, new, comprehensive alternative investment reporting capabilities within the platform enable advisors who invest in dynamic, outside holdings to use Black Diamond for the managing and reporting of these investments and integrating reporting of those assets alongside traditional assets held at major custodians. Black Diamond has also begun to leverage Advent capabilities in data access and management including, most notably, Advent Custodial Data (ACD) which, we expect to dramatically expand Black Diamond’s direct access to thousands of financial institutions.

Investment In Black Diamond Leadership Team

Since the acquisition, Black Diamond has added numerous positions to product development and client services, and has further strengthened the leadership team with key executive appointments and new hires.

Reed Colley continues in his role as Senior Vice President and General Manager of Black Diamond, setting the strategic direction for Advent’s support of the advisory market and will now be based in Advent’s San Francisco headquarters.

Dave Welling has expanded his role at Black Diamond and currently acts as Vice President responsible for Sales, Marketing, Product and Client Services. In this role, Welling oversees product strategy, service, operations and multiple strategic initiatives for the Black Diamond Advisory business group.

In November 2011, Cathy Clauson, formerly Vice President of Business Integration for Schwab Advisor Services, joined Advent as Vice President of Sales and Strategic Relationships for Black Diamond. Clauson spearheads the core sales team, which focuses on advisory firms with less than $300 million under management and manages Black Diamond’s strategic relationships including industry partners such as custodians and Black Diamond key client relationships.

Mike Golaszewski, Senior Director brings more than 20 years of experience in financial services to Advent and joined the Black Diamond leadership team in May. Golaszewski is responsible for Black Diamond’s Product Management and Strategy functions, including New Product Development. Prior to joining Advent, Golaszewski managed Schwab’s Client Reporting and Portfolio Accounting offerings for advisors as well as Schwab’s Advisor Center website.

To accelerate Black Diamond’s mission to deliver high quality data and client service, Steve Leivent joined Black Diamond’s leadership team and oversees teams responsible for operations and product implementation. Leivent, a 14-year Advent veteran, also continues to lead the Advent OnDemand® Service offering.

In addition to strategic leadership hires Black Diamond has significantly added to the service, implementation, operations and product development teams with over 30 new additions to the team in the last year. “As a firm that provides both technology and outsourced service to our clients, we are incredibly focused on continuing to build, refine and grow the team that works with advisors every day,” said Dave Welling, Black Diamond. “We approach each and every one of our client relationships as an opportunity to build a unique partnership and with the backing of Advent we’ve been able to invest in our team as well as our platform.”

Integrated Black Diamond and Advent Sales Team

Another strategic development is the integration of the Advent and Black Diamond sales teams to create a combined force of sales representatives and supporting service consultants.

At the beginning of 2012, Advent and Black Diamond integrated their sales teams based on the desire to consistently and objectively recommend the right future technology direction to current and future clients.

Our sales people are trained on multiple products and are well positioned to work with clients to identify each client’s unique needs and recommend products and solutions that are purpose-built to support the requirements of their business.

“Prior to the acquisition of Black Diamond, many advisors found themselves narrowing their choice to either APX or Black Diamond and often were unsure of which direction to go,” adds Welling. “The new sales and client support structure enables us to recommend the absolute best technology path for each prospective client, based on their business goals and objectives.”

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