Black Diamond Now Advent's Best Friend

Black Diamond acquisition adds a presentation layer to Advent Axys and APX engines

Advent Software's acquisition of Black Diamond Performance Reporting brings under the Advent umbrella certain presentation capabilities that complement its Axys wealth management and Advent Portfolio Exchange (APX) asset management products.

"The advisory business doesn't have a heavy accounting aspect to it. Most of the investments they account for are discretely market valued," says Todd Gottula, senior vice president and head of global accounts at Advent Software. "They are aggregating broker