Klingenstein Fields opts for integration with Advent

FWR Staff

4 September 2009

Wealth-management-support platform covers front- to back-office functions. Family-wealth advisory Klingenstein Fields has ditched an un-integrated portfolio-management system that included Firserv's Security APL with an integrated platform from Advent Software.

"We had a number of systems that were neither integrated nor compatible," says Klingenstein's compliance chief Jonathan Roberts. "We knew that we stood to gain significant efficiencies through better integration."

Klingenstein's new platform includes

Advent Portfolio Exchange, a portfolio-management system that integrates the front-office functions of prospecting, marketing, and customer relationship management with the back- office operations of portfolio accounting and reporting Moxy, Advent's trade-order management system Advent's straight-through processing tools like its custodial data aggregation servic Advent Custodial Data and Rex, which automates reconciliation and eliminates manual error-checking Advent Revenue Center for billing and revenue management

"Having a complete straight-through-processing loop has produced unprecedented time savings and dramatic efficiency gains across the business," says Roberts. "It was very important for us to find a proven technology partner committed to investing in the future of its products and we have found that with Advent."

New York-based Klingenstein has more than $3 billion in assets under management.

San Francisco-based provides software, data, services and tools to financial-service firms in 60 countries. -FWR

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