Cost Basis Reporting Readiness [ Source: Advent Software ]
August 2010- Although the requirement affects issuers of 1099s directly, many investment advisors include cost basis and capital gain information on their statements to clients, and investors have historically relied on the advisor for tax preparation. Advisors who continue this practice must be sure their cost basis calculations are accurately reconciled with those of their custodians as it is likely that investors will contact their advisors (rather than custodians) if they have questions or concerns. Expect a ...

Advent Portfolio Exchange (APX) Is the "All-In-One Solution" for Wasmer, Schroeder and Co. [ Source: Advent Software ]
July 2010- APX is designed for use across multiple responsibilities in an organization. To protect sensitive data, it incorporates other security features including permissions and controls to restrict individuals to only those areas they need to perform their jobs and a comprehensive patented audit trail tool. “That was actually one of our other big drivers to APX,” says Josephine Haines, the firm’s chief operating and compliance officer. “It’s good to be able to restrict personnel ...

Advent Technology Supports Rapid Growth at Finnish Private Bank [ Source: Advent Software ]
June 2010- “We started with Advent because I had experience of the software at Mandatum Private Bank [currently part of Nordic banking conglomerate Danske Bank] where I was working before,” explains Taaleritehdas executive vice president and co-founder Karri Haaparinne. “So it was an easy decision to choose Advent, because I knew the Moxy® product and what it could do. And it’s a perfect match for how we do the asset management. Advent’s Moxy allows us ...

APX's Analytics Give Abacus Insight Into Performance [ Source: Advent Software ]
June 2010- In 2007, Abacus Associates, a 100-year old family office in midtown Manhattan, decided to offer its investment expertise to a wider clientele and launched a registered investment advisory firm, Spears Abacus Advisors. A long-time user of Advent’s Axys® portfolio accounting and reporting solution, Abacus now faced a need for a portfolio management engine that could clearly separate its SEC-regulated RIA business from its proprietary family portfolios. The firm was experiencing growing demand from clients for ...

Reed Conner & Birdwell Streamlines Reconciliation with Advent Custodial Data [ Source: Advent Software ]
June 2010- Part of Advent’s suite of straight-through processing tools, Advent Custodial Data automates the daily collection of data from more than 800 custodians and funds. Working in partnership with the custodian, Advent sources data directly from the custodian system of record. It enables firms to consolidate account level information from multiple custodians in a single, secure download for reconciliation and posting into APX. “Coming from our old system and that way of doing things, ACD is ...