2001 Press Releases

Advent Software Announces Strategic Alliance with FOLIOfn


SAN FRANCISCO, California and VIENNA, Virginia – Advent Software, Inc. (NASDAQ: ADVS), the leading provider of enterprise investment management software, and FOLIOfn, the creator of the unique FOLIO Investing℠ service, today announce a strategic alliance under which FOLIOfn will be the exclusive provider of Folios (custom baskets of stocks) through the Advent Office™ portfolio accounting and management system licensed by more than 6,000 investment management firms.

As part of this groundbreaking relationship, Advent will build an interface between Advent Office and FOLIOfn, and make FOLIO Advisor℠ available directly to Advent Office clients. FOLIO Advisor is the investment advisor version of FOLIO Investing that allows investment advisors to easily buy and manage customized stock portfolios for their clients. FOLIOfn officially announced the launch of FOLIO Advisor today, in a separate release.

“We’ve been talking to hundreds of investment advisors and advisory firms about FOLIO Advisor,” said FOLIOfn founder and CEO Steven M.H. Wallman. “Advisors have told us they view FOLIO Advisor as an easy and affordable alternative to existing separately managed accounts. As Advent is the largest provider of software to the industry, it just made sense for us to partner with Advent to serve better the advisor market. Clearly, combining the value of FOLIO Advisor with accessibility to Advent’s services will provide advisors with an even more attractive and robust offering. It’s estimated that Advent’s clients manage more than $5 trillion in assets. FOLIOfn expects significant penetration into Advent’s client base through this partnership, which will offer tremendous possibilities for rapid growth in our system.”

“Investment advisors are continually looking for ways to improve service to their clients in a cost-effective fashion. FOLIOfn has developed a truly unique new investment vehicle, and we’re excited about the opportunities it will provide to the professional investment market,” said Stephanie DiMarco, Chairman of Advent Software. “Our goal is to be consistently on the leading edge of providing state-of-the-art technology and services to the professional investment community. Offering FOLIO Advisor to our client base is a logical progression in that effort.”

Investment advisors can use the FOLIO Advisor platform to buy for their clients whole portfolios of individual stocks—called Folios—that can be customized quickly, easily and automatically, and can also be private-labeled for firms and advisors. FOLIO Advisor offers scores of model Folios based on sectors, indexes, risk level, Wall Street analyst recommendations, and other criteria. Advisors can also use FOLIO Wizard to assist in selecting Folios for clients. Advisors can customize any of these Folios to their clients’ specific needs by adding or deleting stocks and can update or rebalance Folios with just a few mouse clicks as often as they like with no additional cost. Advisors can also choose to create their own Folios from scratch with the help of online screening tools. In addition, FOLIO Advisor offers a revolutionary, automated tax lot tracking and tax management system that lets advisors easily manage a client’s capital gains and losses.

Advent Software has been providing the professional investment community with industry-leading software and services since 1983. The Advent Office™ suite of integrated solutions automates a wide range of investment activities, from portfolio management and partnership accounting to client relationship management, reconciliation processing, trading, and order management. Because these solutions are scalable, they are used by investment organizations of all sizes—from the single financial planner managing several million dollars, to large enterprise-wide firms with tens of billions of dollars under management.

Investment advisors who use FOLIO Advisor will be able to seamlessly download their FOLIO Advisor data into Advent Office, licensed by more than 6,000 investment firms around the world, in this exclusive relationship. In addition, FOLIOfn will have exclusive access to Advent TrustedNetwork for its newly created style of investing. Advent TrustedNetwork is the only solution for the professional investment community designed to provide consolidated, cross-institutional data to investment advisors and online financial service providers. With Advent TrustedNetwork, financial institutions can offer their clients investment advice based on the client’s entire portfolio, not just the assets held at that institution. And future versions of “MyAdvent,” a personalized home page for the Advent Office software system, will connect advisors directly to FOLIO Advisor.

About Advent Software

Advent Software, Inc. is the leading provider of Enterprise Investment Management solutions. The company provides a suite of complementary products for the front, middle and back offices of investment management organizations. Advent has more than 700 employees located in San Francisco, New York and Australia. The company’s common stock is traded on the NASDAQ National Market under the symbol ADVS.

About Folio Investing

Folio Investing, a division of FOLIOfn Investments, Inc., is an online brokerage that enables investors to manage stocks, ETFs, and mutual funds as integrated investment portfolios called “Folios” that deliver better control, greater transparency, and lower cost. Investors can create their own Folios, much like creating personalized ETFs or mutual funds, or invest in over 100 Ready-to-Go Folios representing market indices, sectors, geographical regions, target dates, and more. The Folio Unlimited Plan features unlimited commission-free trading in twice-daily windows for only $29 a month or $290 a year. Ready-to-Go Folios can be managed or unmanaged, are not registered investment companies, and are offered by FOLIOfn Investments, Inc., a registered broker-dealer. FOLIOfn Investments, Inc. does not provide investment, tax, or legal advice. FOLIOfn Investments, Inc., is a member of FINRA/SIPC.