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Advent launches SaaS Solution for UK wealth managers

Date: 12 Sep 2011

Citywealth

Advent Software, a leading provider of software and services for the global investment management industry, today announced that its Wealth Management Solution is now available to investment managers in the United Kingdom via Advent OnDemand. Advent OnDemand is Advent’s Software-as-a-Service (SaaS) delivery model and offers clients increased flexibility, scalability and the benefits of industry leading portfolio accounting and management solutions, with reduced IT responsibility and lower total cost of ownership. For investment managers in the UK, Advent OnDemand includes integrations with Proquote and Calastone, as well as interfaces with local custodians.

Cloud solutions are becoming increasingly attractive to investment management firms who want to achieve lean operations and desire a flexible technology platform that can support growth. When compared to internally installed solution platforms, SaaS offers clients a host of benefits including opportunity to take advantage of new innovations more rapidly, cost benefits and increased scalability.

“As a result of the financial crisis, wealth managers have a fundamental mission to re-engender client trust and confidence in their planning and advisory services. The majority of their focus must now be spent in direct contact or engagement with clients, rather than on maintenance of infrastructure and technology solutions,” said Bob McDowall, senior analyst at Aite Group. “SaaS solutions are an attractive option for wealth managers who understand the importance of maintaining reliable and accurate technology infrastructure and delivering exceptional service to clients.”

With Advent OnDemand, investment managers retain complete control over operations and data, while Advent manages the hardware and software administration of its industry leading wealth management solution. Advent OnDemand delivers the security of an in-house platform, helps minimise risk and performs all updates and patches automatically. Built-in disaster recovery and full access to Advent’s client service and locally-based technical support team offer clients additional peace of mind that their critical business functions are being looked after by qualified experts. With Advent OnDemand, investment management firms can apply available resources toward growing their businesses.

www.advent.com

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