SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
[X] Annual report pursuant to Section 15(d) of the Securities Exchange Act
of 1934 for the fiscal year ended December 31, 1996 or
[ ] Transition report pursuant to Section 15(d) of the Securities Exchange
Act of 1934 for the transition period from ______ to _______
0-26994
(Commission File Number)
ADVENT SOFTWARE, INC. PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
---------------------------------------------------------------------------
(Plan Title)
ADVENT SOFTWARE, INC.
--------------------------------------------------------------
(Plan Issuer)
301 Brannan Street, Sixth Floor
San Francisco, CA 94107
--------------------------------------------------------------
(Address, including zip code, of principal executive offices)
Registrant's telephone number, including area code:
(415) 543-7698
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND
EMPLOYEE SAVINGS
PLAN
Financial Statements and
Additional Information
December 31, 1996 and 1995
<PAGE>
Advent Software, Inc.
Profit Sharing and Employee Savings Plan
- ------------------------------------------------------------------------------
INDEX
Page
Independent Accountants' Report 4
Financial Statements:
Statements of Net Assets Available for Plan Benefits 5
Statements of Changes in Net Assets Available
for Plan Benefits, With Fund Information 6
Notes to Financial Statements 7
Form 5500 Supplemental Schedules as of and for the year
ended December 31, 1996:
Schedule of Assets Held for Investment Purposes 13
Schedule of Reportable Transactions 14
-3-
<PAGE>
To the Participants and
Plan Administrator of the
Advent Software, Inc.
Profit Sharing and Employee Savings Plan
INDEPENDENT ACCOUNTANTS' REPORT
We have audited the statements of net assets available for plan benefits of
the Advent Software, Inc. Profit Sharing and Employee Savings Plan (the Plan) as
of December 31, 1996 and 1995, and the related statements of changes in net
assets available for plan benefits for the years then ended. These financial
statements and schedules are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by the
Plan's management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for plan benefits of the Plan as
of December 31, 1996 and 1995, and the changes in net assets available for plan
benefits for the years then ended in conformity with generally accepted
accounting principles.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental information included in
Schedule G - Financial Schedules (IRS Form 5500) is presented for the purpose of
additional analysis and is not a required part of the basic financial statements
but is supplementary information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. The fund information in the statement of changes in net
assets available for plan benefits is presented for purposes of additional
analysis rather than to present the changes in net assets available for plan
benefits for each fund. The supplemental information and fund information have
been subjected to the auditing procedures applied in the audit of the basic
financial statements and, in our opinion, are fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
MOHLER, NIXON & WILLIAMS
Accountancy Corporation
Campbell, California
September 8, 1997
-4-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
- ------------------------------------------------------------------------------
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
December 31,
------------------------
1996 1995
---------- ----------
Investments, at fair value ......................... $4,144,656 $2,464,891
---------- ----------
Assets held for investment purposes ...... 4,144,656 2,464,891
Employer's contribution receivable ................. 223,871 168,353
---------- ----------
Net assets available for plan benefits ... $4,368,527 $2,633,244
========== ==========
See independent accountants' report and
accompanying notes to financial statements.
-5-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
- -----------------------------------------------------------------------------
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
<TABLE>
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE
FOR PLAN BENEFITS, WITH FUND INFORMATION
For the years ended December 31, 1996 and 1995
<CAPTION>
Charles Schwab Smith Barney
-------------------------------------------------------- ---------------------------
Vanguard Vanguard
Long-term Vanguard World Intl Employee
Money Corporate Index TR 500 Growth Benefit Reserve
Market Bond Portfolio Portfolio Deposit Deposit
Fund Fund Fund Fund Account II Account
----------- ----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C>
Net assets available for plan
benefits at December 31, 1994 .... $ 128,877 $ 148,838 $ 581,199 $ 545,571 $ -- $ --
----------- ----------- ----------- ----------- ----------- -----------
Employer's contribution ............. 9,683 12,468 42,876 42,550 -- --
Participants' contributions/rollovers 48,261 73,071 315,373 288,349 -- --
Withdrawals/distributions ........... (7,200) (24,775) (138,639) (97,008) -- --
Dividends and interest .............. 8,982 15,787 20,876 23,300 -- --
Net appreciation (depreciation) in
fair value of investments ........ -- 34,318 235,511 82,368 -- --
Administrative fees ................. (1,171) (1,622) (6,093) (5,608) -- --
Transfers in (out) .................. (43,312) 16,675 78,550 (35,681) -- --
----------- ----------- ----------- ----------- ----------- -----------
Increase (decrease) in net assets ... 15,243 125,922 548,454 298,270 -- --
----------- ----------- ----------- ----------- ----------- -----------
Net assets available for plan
benefits at December 31, 1995 .... 144,120 274,760 1,129,653 843,841 -- --
----------- ----------- ----------- ----------- ----------- -----------
Employer's contribution ............. 11,390 18,295 75,198 55,557 -- --
Participants' contributions/rollovers 23,147 53,070 318,114 230,321 6,443 46,945
Withdrawals/distributions ........... (231) (15,558) (57,220) (36,916) (32,314) --
Dividends and interest .............. 2,955 13,023 11,825 1,078 2,956 --
Net appreciation (depreciation) in
fair value of investments ........ -- (27,636) 24,805 51,628 -- --
Administrative fees ................. (833) (1,933) (8,544) (6,316) (18) --
Transfers in (out) .................. (180,548) (314,021) (1,493,831) (1,139,193) 222,009 557
----------- ----------- ----------- ----------- ----------- -----------
Increase (decrease) in net assets ... (144,120) (274,760) (1,129,653) (843,841) 199,076 47,502
----------- ----------- ----------- ----------- ----------- -----------
Net assets available for plan
benefits at December 31, 1996 .... $ -- $ -- $ -- $ -- $ 199,076 $ 47,502
=========== =========== =========== =========== =========== ===========
<CAPTION>
Smith Barney (Continued)
--------------------------------------------------------
Advent GSA
Government Value Small-Cap International Software, Socially
Bond Index Equity Equity Value Equity Inc. Common Responsible
Fund Fund IV Fund V Fund IX Stock Fund Fund
----------- ----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C>
Net assets available for plan
benefits at December 31, 1994 .... $ -- $ -- $ -- $ -- $ -- $ --
----------- ----------- ----------- ----------- ----------- -----------
Employer's contribution ............. -- -- -- -- -- --
Participants' contributions/rollovers -- -- -- -- -- --
Withdrawals/distributions ........... -- -- -- -- -- --
Dividends and interest .............. -- -- -- -- -- --
Net appreciation (depreciation) in
fair value of investments ........ -- -- -- -- -- --
Administrative fees ................. -- -- -- -- -- --
Transfers in (out) .................. -- -- -- -- -- --
----------- ----------- ----------- ----------- ----------- -----------
Increase (decrease) in net assets ... -- -- -- -- -- --
----------- ----------- ----------- ----------- ----------- -----------
Net assets available for plan
benefits at December 31, 1995 .... -- -- -- -- -- --
----------- ----------- ----------- ----------- ----------- -----------
Employer's contribution ............. -- -- -- -- -- --
Participants' contributions/rollovers 23,204 180,205 236,056 145,642 10,685 19,072
Withdrawals/distributions ........... (7,745) (9,025) (12,679) (76,497) (3,106) (4,635)
Dividends and interest .............. -- -- -- -- -- --
Net appreciation (depreciation) in
fair value of investments ........ 5,791 152,230 108,295 129,213 11,524 11,999
Administrative fees ................. (6) (62) (43) (40) -- (24)
Transfers in (out) .................. 130,350 853,332 927,680 807,107 39,642 94,495
----------- ----------- ----------- ----------- ----------- -----------
Increase (decrease) in net assets ... 151,594 1,176,680 1,259,309 1,005,425 58,745 120,907
----------- ----------- ----------- ----------- ----------- -----------
Net assets available for plan
benefits at December 31, 1996 .... $ 151,594 $ 1,176,680 $ 1,259,309 $ 1,005,425 $ 58,745 $ 120,907
=========== =========== =========== =========== =========== ===========
<CAPTION>
Employer's
Participant Contributions
Loans Receivable Total
----------- ----------- -----------
<S> <C> <C> <C>
Net assets available for plan
benefits at December 31, 1994 .... $ 83,114 $ -- $ 1,487,599
----------- ----------- -----------
Employer's contribution ............. -- 168,353 275,930
Participants' contributions/rollovers -- -- 725,054
Withdrawals/distributions ........... -- -- (267,622)
Dividends and interest .............. 5,635 -- 74,580
Net appreciation (depreciation) in
fair value of investments ........ -- -- 352,197
Administrative fees ................. -- -- (14,494)
Transfers in (out) .................. (16,232) -- --
----------- ----------- -----------
Increase (decrease) in net assets ... (10,597) 168,353 1,145,645
----------- ----------- -----------
Net assets available for plan
benefits at December 31, 1995 .... 72,517 168,353 2,633,244
----------- ----------- -----------
Employer's contribution ............. -- 55,518 215,958
Participants' contributions/rollovers -- -- 1,292,904
Withdrawals/distributions ........... (11,519) -- (267,445)
Dividends and interest .............. 11,999 -- 43,836
Net appreciation (depreciation) in
fair value of investments ........ -- -- 467,849
Administrative fees ................. -- -- (17,819)
Transfers in (out) .................. 52,421 -- --
----------- ----------- -----------
Increase (decrease) in net assets ... 52,901 55,518 1,735,283
----------- ----------- -----------
Net assets available for plan
benefits at December 31, 1996 .... $ 125,418 $ 223,871 $ 4,368,527
=========== =========== ===========
</TABLE>
See independent accountants' report and
accompanying notes to financial statements.
-6-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
- -------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
December 31, 1996 and 1995
NOTE 1 - THE PLAN AND ITS SIGNIFICANT ACCOUNTING POLICIES:
The following description of the Advent Software, Inc. (the Company) Profit
Sharing and Employee Savings Plan (the Plan) provides only general information.
Participants should refer to the Plan document for a more complete description
of the Plan's provisions.
The Plan is a defined contribution plan that was established in 1988 by the
Company to provide benefits to eligible employees. The Plan covers all employees
of the Company who are not: 1) otherwise covered by a collective bargaining
agreement, 2) employees of affiliated employers who have not adopted the Plan,
and 3) independent contractors. Plan entry dates are the first day of the Plan
year and the first day of the seventh month of the Plan year.
During 1996, the Company purchased Data Exchange, Inc. The former eligible
employees of Date Exchange, Inc. could elect to contribute in the Plan as of
July 1, 1996.
The Plan administrator intends that the Plan is currently designed and operated
in compliance with the applicable requirements of the Internal Revenue Code and
the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
ADMINISTRATION -
The Company has appointed an Administrative Committee (the Committee) to manage
the operation and administration of the Plan. A third-party administrator
processes and maintains the records of participant data. The Company had
contracted with The Charles Schwab Trust Company (Charles Schwab) to act as the
trustee. Effective July 1, 1996, Smith Barney Corporate Trust Company (Smith
Barney) was appointed trustee of the Plan. A portion of the expenses incurred
for administering the Plan are paid by the Company.
INVESTMENTS -
Investments of the Plan are held by Smith Barney and Charles Schwab and invested
based solely upon instructions received from participants. During 1996, Company
common stock became an investment option. The Plan's investment in mutual funds,
money market funds and the Company stock fund are valued at fair value as of the
last day of the Plan year, as measured by quoted market prices.
-7-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
- -------------------------------------------------------------------------------
VESTING -
Participants are immediately vested in their salary deferral, employer matching,
and rollover contributions and related earnings. Participants vest ratably and
are fully vested in the employer's profit sharing contribution allocated to
their accounts after six years of credited service.
INCOME TAXES -
The Plan has been amended since receiving its latest favorable determination
letter dated December 1, 1993. However, the Company intends that the Plan
continue to qualify under the applicable requirements of the Internal Revenue
Code and related state statutes, and is exempt from federal income and state
franchise taxes.
ESTIMATES -
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities at the date of the
financial statements and the reported amounts of income and expenses during the
reporting period. Actual results could differ from those estimates.
RISKS AND UNCERTAINTIES -
The Plan provides for various investment options in any combination of stocks,
bonds, fixed income securities, mutual funds and other investment securities.
Investment securities are exposed to various risks, such as interest rate,
market and credit. Due to the level of risk associated with certain investment
securities, it is at least reasonably possible that changes in risks in the near
term would materially affect participants' account balances and the amounts
reported in the statements of net assets available for plan benefits and the
statements of changes in net assets available for plan benefits.
-8-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
- --------------------------------------------------------------------------------
NOTE 2 - PARTICIPATION AND BENEFITS:
PARTICIPANT CONTRIBUTIONS -
Participants may elect to have the Company contribute a percentage, up to 15%,
of their eligible pre-tax compensation up to the amount allowable under current
income tax regulations. Participants who elect to have the Company contribute a
portion of their compensation to the Plan agree to accept an equivalent
reduction in taxable compensation. Contributions withheld are invested in
accordance with the participant's direction and are allocated to funds in 1%
increments.
Participants are also allowed to make rollover contributions of amounts received
from other tax-qualified employer-sponsored retirement plans. Such contributions
are deposited in the appropriate investment funds in accordance with the
participant's direction and the Plan's provisions.
EMPLOYER CONTRIBUTIONS -
The Company is allowed to make matching contributions as defined in the Plan and
as approved by the Board of Directors. In 1996 and 1995, the Company matched 50%
of the first $1,000 of the eligible participant's deferrals, up to a maximum of
$500. The Plan also allows for a discretionary profit sharing contribution. The
Company's actual profit sharing contribution may be increased by certain
available forfeitures, if any, during the Plan year. The discretionary
contributions made for the years ended December 31, 1996 and 1995 were $121,000
and $95,094, respectively.
PARTICIPANT ACCOUNTS -
Each participant's account is credited with the participant's contribution, Plan
earnings or losses, and an allocation of the Company's contribution, if any.
Allocation of the Company's contributions is based on participant contributions
or employee eligible compensation, as defined in the Plan.
PAYMENT OF BENEFITS -
Upon termination, the participant or beneficiary will receive the benefits in a
lump-sum amount equal to the value of the participant's vested interest in his
or her account, or in annual, semiannual, quarterly, or monthly installments for
a period which shall not extend beyond a participant's, or participant and
designated beneficiary's life expectancy. The Plan allows for automatic lump-sum
distribution of account balances which do not exceed $3,500.
-9-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
- --------------------------------------------------------------------------------
LOANS TO PARTICIPANTS -
The Plan allows participants to borrow up to the lesser of $50,000 or 50% of
their vested account balances. The loans are secured by the participants' vested
balances. Such loans bear interest at the available market financing rates and
must be repaid to the Plan within a five year period, unless the loan is used
for the purchase of a residence in which case the maximum repayment period may
be longer than five years. The specific terms and conditions of such loans are
established by the Committee.
NOTE 3 - PARTY IN INTEREST TRANSACTIONS:
As allowed by the Plan, participants may elect to invest a portion of their
accounts in the common stock of the Company. Aggregate investment in Company
common stock at December 31, 1996 was as follows:
Number of shares Fair value Cost
- ---------------- ---------- ----
1,934 $58,745 $48,220
NOTE 4 - PLAN TERMINATION AND/OR MODIFICATION:
The Company intends to continue the Plan indefinitely for the benefit of its
eligible employees; however, it reserves the right to terminate and/or modify
the Plan at any time by resolution of its Board of Directors and subject to the
provisions of ERISA. In the event the Plan is terminated in the future,
participants would become fully vested in their accounts.
-10-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
- --------------------------------------------------------------------------------
NOTE 5 - INVESTMENTS:
The following table includes the fair values of investments and investment funds
that represent 5% or more of the Plan's net assets at December 31:
1996 1995
---- ----
Smith Barney:
Employee Benefit Deposit Account II ......... $ 199,076
Reserve Deposit Account ..................... 47,502
Government Bond Index Fund .................. 151,594
Value Equity Fund IV ........................ 1,176,680
Small-Cap Equity Fund V ..................... 1,259,309
International Value Equity Fund IX .......... 1,005,425
Advent Software, Inc. Common Stock Fund ........ 58,745
GSA Socially Responsible Fund .................. 120,907
Charles Schwab:
Money Market Fund ........................... $ 144,120
Vanguard Long-term Corporate
Bond Fund ................................ 274,760
Vanguard Index Trust 500
Portfolio Fund ........................... 1,129,653
Vanguard World International
Growth Portfolio Fund .................... 843,841
Participant Loans .............................. 125,418 72,517
---------- ----------
3,244,656 2,464,891
Employer's Contribution Receivable ............. 223,871 168,353
---------- ----------
Net assets available for
plan benefits .................... $4,368,527 $2,633,244
========== ==========
-11-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
- --------------------------------------------------------------------------------
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
FORM 5500
SUPPLEMENTAL SCHEDULES
DECEMBER 31, 1996
-12-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
E.I.N.: 94-3065325
Plan #: 001
<TABLE>
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
December 31, 1996
<CAPTION>
(a) (b) (c) (d) (e)
Description of investment including
Identity of issue, borrower, lessor, maturity date, rate of interest, Current
or similar party collateral, par or maturity value Cost Value
- ------ ----------------------------------------- ----------------------------------- ---------- ------------
<S> <C> <C> <C> <C>
Smith Barney Trust Company:
Employee Benefit Deposit Account II Money Market Fund $ 199,076 $ 199,076
Reserve Deposit Account Cash 47,502 47,502
Government Bond Index Fund Mutual Fund 145,303 151,594
Value Equity Fund IV Mutual Fund 1,021,502 1,176,680
Small-Cap Equity Fund V Mutual Fund 1,146,601 1,259,309
International Value Equity Fund IX Mutual Fund 877,921 1,005,425
Advent Software, Inc. Common Stock Fund Common Stock 48,220 58,745
GSA Socially Responsible Fund Mutual Fund 108,907 120,907
* Participant loans (8% to 11%) Loan Fund -- 125,418
-------------
Total assets held for investment
purposes $ 4,144,656
=============
</TABLE>
* Parties-in-interest
-13-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
E.I.N.: 94-3065325
Plan #: 001
<TABLE>
SCHEDULE OF REPORTABLE TRANSACTIONS
For the year ended December 31, 1996
<CAPTION>
(a) (b) (c) (d) (g) (h) (i)
Description of Current
asset (including value of
interest rate asset on
and maturity in Purchase Selling Cost of transaction Net gain
Identity of party involved case of a loan) price price asset date or (loss)
- ----------------------------------------------- ----------------- ---------- ---------- ---------- ---------- ---------
<S> <C> <C> <C> <C> <C> <C>
Smith Barney Trust Company:
Gov't Bond Index Fund Mutual Fund $ 153,554 $ -- $ 153,554 $ 153,554 $ --
Gov't Bond Index Fund Mutual Fund -- $ 8,637 8,251 8,637 386
Small Cap Equity Fund V Mutual Fund 1,204,920 -- 1,204,920 1,204,920 --
Small Cap Equity Fund V Mutual Fund -- 61,853 58,319 61,853 3,534
Value Equity Fund IV Mutual Fund 1,066,501 -- 1,066,501 1,066,501 --
Value Equity Fund IV Mutual Fund -- 49,273 44,999 49,273 4,274
Int'l Value Equity Fund IX Mutual Fund 967,135 -- 967,135 967,135 --
Int'l Value Equity Fund IX Mutual Fund -- 97,612 89,214 97,612 8,398
Emp Benefit Deposit Acct II Money Market Fund 339,928 -- 339,928 339,928 --
Emp Benefit Deposit Acct II Money Market Fund -- 140,851 140,851 140,851 --
Charles Schwab Trust Company:
Money Market Fund Money Market Fund 44,470 -- 44,470 44,470 --
Money Market Fund Money Market Fund -- 187,792 187,792 187,792 --
Vanguard Index TR 500 Portfolio Mutual Fund 438,461 -- 438,458 438,458 --
Vanguard Index TR 500 Portfolio Mutual Fund -- 1,592,797 1,356,972 1,592,797 235,825
Vanguard Long Term Corporate Bond Fund Mutual Fund 111,099 -- 111,099 111,099 --
Vanguard Long Term Corporate Bond Fund Mutual Fund -- 356,738 359,990 356,708 (3,282)
Vanguard World Int'l Growth Portfolio Mutual Fund 329,973 -- -- -- --
Vanguard World Int'l Growth Portfolio Mutual Fund -- 1,221,490 1,124,773 1,221,490 96,717
</TABLE>
-14-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
- --------------------------------------------------------------------------------
SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act
of 1934, the trustees (or other persons who administer the Advent Software, Inc.
Profit Sharing and Employee Savings Plan) have duly caused this annual report on
Form 11-K to be signed on its behalf by the undersigned hereunto duly
authorized.
ADVENT SOFTWARE, INC. PROFIT
SHARING AND EMPLOYEE SAVINGS PLAN
Dated: November 7, 1997 By: /S/ IRV H. LICHTENWALD
--------------------------
Irv H. Lichtenwald,
Title: on behalf of the Plan
Adminstrator of the Advent Software, Inc.
Profit Sharing and Employee Savings Plan
-15-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
- --------------------------------------------------------------------------------
EXHIBIT INDEX
EXHIBIT PAGE
NUMBER NUMBER
- ------ ------
23.1 Consent of Independent Accountants 17
-16-
<PAGE>
ADVENT SOFTWARE, INC.
PROFIT SHARING AND EMPLOYEE SAVINGS PLAN
- --------------------------------------------------------------------------------
EXHIBIT 23.1
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the Registration Statement of
Advent Software, Inc. on Form S-8 of our report dated September 8, 1997, with
respect to the financial statements and schedules of the Advent Software, Inc.
Profit Sharing and Employee Savings Plan (the "Plan") included in the Annual
Report for the Plan for the plan year ended December 31, 1996 and 1995, as filed
on Form 11-K with the Securities and Exchange Commission.
Campbell, California MOHLER, NIXON & WILLIAMS
October 21, 1997 Accountancy Corporation
-17-
