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August 30, 2005 |
Intuit to Preview New Portfolio Management Product |
Intuit Inc. plans to unveil a new
Web-based portfolio management application for financial professionals
at the upcoming FPA San Diego 2005 National Conference.
The product, targeted primarily at small- to
mid-sized independent RIA’s and broker-dealers, has been in development
for at least one and a half years and is currently being beta tested by 50 firms.
According to a company spokesperson, the new product
is designed for advisors who want a simple, inexpensive portfolio
management solution capable of providing performance reporting, asset
allocation modeling and billing.
The initial pricing is expected to be $150 per
month, which includes support. There will also be a one-time set up fee
of $495. This fee includes help with the initial configuration.
Interfaces are already available for major RIA custodians such as
Schwab, TD Waterhouse, Fidelity, Ameritrade and Pershing. An interface
for DST and a number of independent broker-dealers’s are also
available. There has been no word regarding data conversions from other
portfolio management programs.
Intuit is best know for its Quicken personal finance
program as well as QuickBooks, a small business accounting program, and
TurboTax tax preparation software. In addition, Intuit offers the
ProSeries and Lecerte tax preparation suites for professionals. It is
estimated that one in four U.S. tax returns is
prepared with an Intuit tax product.
—Joel Bruckenstein
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Intuit to Preview New Portfolio Management Product |
