Asset firm makes move from Axys to newer account-management technology. Asset manager Trusco Capital Management has selected Advent Software's Portfolio Exchange (APX) portfolio and client-management platform, migrating to it from the Advent Axys platform it had been using.

Thirty in six months

"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," says Sean Porrello, director of investment technology at Trusco. "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."

Trusco is the thirtieth Advent client to go live on APX in the last six months. Altogether, Advent has more than 120 APX clients -- including asset managers, broker-dealers and family offices -- in the U.S., Europe, the Middle East and Asia.

Advent's director of product marketing Michele Holton says the technology company continues "to see strong demand for APX as large firms like Trusco seek to improve front- and back-office operations."

Atlanta-based Trusco, a subsidiary of SunTrust Banks, had more than $73 billion in assets under management at the end of June 2007. The firm customizes investments for institutions and high-net-worth individuals. It's also investment advisor to the STI Classic mutual-fund family. -FWR

Purchase reproduction rights to this article.