Advent Completes Acquisition of Black Diamond Performance Reporting

Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the investment management industry, announced that as of June 1, 2011, it completed its acquisition of Black Diamond Performance Reporting, LLC (“Black Diamond”), a leading provider of web-based, outsourced portfolio management and reporting platforms for independent advisors. Under the terms of the agreement, which were previously announced on May 12, 2011, Advent has acquired all of the outstanding ownership units of Black Diamond for approximately $73 million in cash.

Please read an updated open letter
from founder Reed Colley

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A PARTNER FOCUSED ON YOUR VISION

Black Diamond Performance Reporting™ is the leading provider of web-based, outsourced portfolio management and reporting platforms for independent advisors and wealth managers. Our mission is to support and cultivate advisor greatness by providing the best combination of technology, service and innovation in the industry.

OUR SOLUTION PROVIDES:

• Daily Reconciliation and Returns
• Flexible, Customizable Reporting Levels
• Ad Hoc and Batch Client Report Creation
• Composite Reporting and Maintenance
• Cost Basis Tracking and Tax Lot Entry

• An Easy-to-Use, Customizable Home Page
• Outside Asset Entry
• Advisor Reports
• Client Billing
• Target vs. Actual