Baltimore-based Brown Capital Management was one of SS&C Advent’s earliest clients. In fact, founder Eddie C. Brown met Advent Software founder Stephanie di Marco at a conference in the mid-1980s, not long after they had launched their respective firms. Today, Brown Capital is a $9.7 billion manager of domestic and global equity portfolios and uses SS&C Advent solutions throughout its operations, centered on Advent Portfolio Exchange (APX), the firm’s portfolio management and accounting solution.
After Advent became part of SS&C, a wide range of new technology and services became available to clients. One in particular caught Brown Capital’s attention: Recon, a flexible reconciliation solution that supports exception-based workflow management.
Since implementing Recon, Brown Capital has realized a number of benefits, including:
- Comprehensive reconciliation capabilities that now include cash
- Daily reconciliation
- Faster and easier break identification and resolution
“It allows our portfolio administrators to concentrate on things other than reconciling their accounts,” says Lisa Garrison, Brown’s Manager of Reporting and Systems Administration. She calls Recon a “huge timesaver” and further notes that it has enabled the firm to transition away from volumes of paper based reconciliation reports.
“Recon definitely met and even exceeded expectations,” Devin says, “it showed us we could take our reconciliation process to another level.” Much of the credit, he adds, goes to the team that helped with the migration to Recon and continues to support the firm. “We have a dedicated team that we can reach out to with any concerns or troubleshooting issues. Everyone’s been really responsive.”
To learn more about how Advent Portfolio Exchange (APX) and Recon have transformed the reconciliation process at Brown Capital, read the full case study.
Asset Management, Wealth Management