Advent Software, Inc. (NasdaqGS:ADVS), the award-winning provider of solutions to the global investment management industry, today announced that it has entered into an alliance with ByAllAccounts, an independent provider of data aggregation solutions to investment management and advisory firms.
The alliance with ByAllAccounts will complement Advent Custodial Data (ACD), Advent's market-leading custodial data network, by providing additional data to Advent's clients.
Over 2,700 firms use ACD to consolidate portfolio information from hundreds of sources for reconciliation and posting into Advent's portfolio accounting systems, Advent Portfolio Exchange (APX), Geneva and Axys. ACD was developed by Advent in collaboration with custodian banks to enable investment managers and advisors to efficiently retrieve high-quality account information from their custodians through a single connection to Advent. ACD employs direct-feed interfaces to custodian systems of record.
Through collaboration with Advent, ByAllAccounts offers Advent clients a means for collecting account information that is not available via ACD, including certain retail brokerage accounts, retirement accounts, and demand deposit accounts. ByAllAccounts employs technologies which enable investment managers and advisors to gather account information from brokerage and custodian websites. The data can then be loaded into Advent's portfolio management solutions, APX and Axys, for reconciliation, posting and reporting.
"Advent is committed to working with best-in-class companies in order to provide greater value to our customers," said George McLaughlin, Director of Alliances at Advent. "ByAllAccounts offers Advent clients a valuable tool for expanding their wealth management practices."
"We are delighted to have a close relationship with Advent to provide this enhanced capability," said James Carney, Chief Executive Officer, ByAllAccounts. "ByAllAccounts' solution in conjunction with Advent Custodial Data provides Advent clients with unparalleled access to reconciliation-ready custodial data."