Symmetry Capital Implements Advent Software
Symmetry Capital Advisors LLC, a Dallas-based registered investment advisory (RIA) firm, is one of the latest firms to successfully implement Advent Back Office Service for enhanced portfolio management, reporting, and daily reconciliation.
Advent Back Office Service provides a scalable and reliable outsourced solution that performs data management and daily reconciliation services, providing Advent Axys functionality to the Symmetry Capital via the efficiency of an Internet browser. As a result, Symmetry can devote more time and resources toward building their business and managing client relationships-and less time managing technology, data and an IT staff.
"By utilizing Advent Back Office Service for our daily downloads and reconciliation, we are not only more prepared to do our quarterly reporting at the end of each quarter, but we are also achieving considerable cost and time savings," said David Stalnaker, president and chief investment officer of Symmetry Capital, from a release. "My estimate is that ABOS easily saves us $40,000 a year through reduced overhead and streamlined in-house staffing. By using Advent Back Office Service instead of doing the reporting ourselves, we probably gain an extra week of productivity each month."
More than 4,400 financial service firms, including 15 of the top 20 fastest growing RIAs, rely on Advent solutions. Symmetry currently manages approximately $125 million in assets for 40 high-net-worth family clients across the U.S.