Emerging Information Systems Inc., the developer of NaviPlan financial planning software today announced the acquisition of Financial Profiles Inc. The acquisition brings together the industry's two leading financial planning software developers and cements EISI's position as the largest provider of professional financial planning software in the world with over 120,000 licensed users.

   EISI, headquartered in Winnipeg, Canada, is a privately held firm founded in 1990. Its software is licensed to over 70,000 financial professionals, primarily in the U.S. and Canada. Financial Profiles, headquartered in Carlsbad, Calif., was founded in 1969. It licenses its software to over 50,000 financial professionals. Prior to the acquisition, it was a subsidiary of the Hanover Insurance Group. The purchase price was not disclosed.

   By acquiring Financial Profiles through its wholly owned US subsidiary Emerging Information Systems, EISI assumes full control of not only the Profiles + Professional and Profiles + Forecaster financial planning applications, but a number of other products as well. These include Profiles-on-Demand, Insurance Insight, the Matrix integration/consolidation platform, and the Wealth Insight enterprise level wealth management application.

   The two companies' leading products are not far apart in price. NaviPlan Standard sells for $625 while its Extended version is priced at $1,250. Financial Profiles sells its Profiles + Forecaster for $590 and its high-end Profiles + Professional for $1,000.

   Since entering the U.S. market in 1999, NaviPlan has quickly established itself as the leading product favored by sophisticated financial advisors. Its ability to surpass all its rivals except financial software giant Sungard, which claims to have 80,000 users, many in large financial institutions, has rocked the financial software market.

   According to EISI President and CEO Mark Evans: "As a united entity, we will draw upon our unrivaled scale and resources to offer financial service firms broader wealth management solutions and stronger support programs." Adds Cindy Bennett, director of marketing at EISI: "The acquisition will give clients the industry's leading software and support options available from one corporate entity."

   The synergies created by the combination should benefit financial institutions, advisors and their clients. Financial Profiles President and CEO Jim McClafferty says, "We each have unique strengths, but we share a client-centric approach to developing solutions".

   According to sources at EISI and Financial Profiles, EISI will continue to develop and fully support both the NaviPlan and Profiles+ product lines for the foreseeable future. The firm will maintain offices in both Winnipeg and Carlsbad.