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