Source: Advent Software
Advent Software (Nasdaq: ADVS), the leading provider of software and solutions for the investment management industry, today announced that Trusco Capital Management (Trusco) has gone live with Advent Portfolio Exchange (APX).
APX is Advent's integrated platform for portfolio management and client relationship management. Trusco, an Atlanta-based registered investment adviser with over $73 billion in assets under management, is one of 30 Advent clients to go live on APX in the last six months.
Trusco, a long-time Advent client migrated to APX from Axys. They have upgraded to APX to take advantage of the system's integrated portfolio management and client relationship management capabilities, positioning themselves for further growth. "The benefits of having such a robust integrated platform from a trusted partner made it an easy decision to upgrade to APX," said Sean Porrello, Director of Investment Technology, Trusco Capital Management.
"APX provides us with a stable accounting platform that has been instrumental in significantly enhancing operational efficiencies and allowing us to increase our assets under management without any additional modifications or expenses. The ease of automation, along with the accuracy of the data has allowed our team to automate even more overnight processes and have the data used in the investment process available for the start of each business day," added Porrello.
"We are very pleased to welcome Trusco to our growing list of customers that have gone live on APX," said Michele Holton, Director, Product Marketing at Advent. "We continue to see strong demand for APX as large firms like Trusco seek to improve front and back office operations."
The 30 customers that went live on APX in the past six months comprise a wide range of investment management firms in the U.S. and EMEA region, including several leading asset managers, family offices and broker dealers. Advent currently has more than 120 signed APX clients across 13 countries.
Added Holton, "We are excited about the maturation of APX and the momentum we have seen behind the product in recent months. The strong client response proves that APX is helping our clients execute more effectively and efficiently."