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Wednesday, April 24, 2002

Advent Signs Two

by: Sean Hanna, Editor in Chief

Advent Software continues to aggressively build third-party distribution of its aggregation tools to advisors. The latest two firms to add the software to their bag of tricks for advisors are Fidelity Investments and SEI.

In the deal with SEI, the Oaks, Pennsylvania-based firm will offer the Advent TrustedNetwork platform as a part of its services to its bank, trust company, investment manager and investment advisor clients.

The service will provide those clients with cross-institutional views of their accounts. Advent claims that more than 200 institutions now are a part of the TrustedNetwork platform.

Advent also said today that Fidelity has agreed to extend its relationship as a part of the network through 2007.

Fidelity will also join the Advent TrustedNetwork Advisory Council to provide ongoing feedback regarding future enhancements to the service, said the firm. It will also become a preferred provider to Advent Outsource, streamlining the exchange of data and sharing of capabilities between the two firms.

The Advent Outsource solution provides daily data management and other back office functions for firms that choose to use Advent solutions on a hosted basis rather than installing software on their local networks and PCs, said the company.  

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