Our Expanding Global Company

Mark Rogozinski
By Family Office
Ed Van Deman
By Investing, Technology

It has been a busy few months for us following the announcement of the merger of Financial Navigator, Inc. and Asset Vantage, Ltd. This newsletter gives you a report on the progress we have made and the opportunities we see in the future for our clients. We also outline here some of the challenges we see in the months ahead as we expand the capabilities of the new platform.

Gratifying Response

First… Thank you to all our clients and friends who have offered congratulations on the merger and asked about the new company. Your support is most appreciated. It pleases us greatly to hear the excitement so many of our clients have expressed about the merger. We promise to keep you informed as we build a global financial technology company that will serve the needs of investors worldwide.

Progress To-Date

Here are some milestones of what we have accomplished so far:

  1. We have combined the executive talent of the two firms to form a senior management team designed to address the opportunities and challenges of a global company with staff and clients in both Asia and the Americas.
  2. Our East Coast Team opened an office in Stamford, Connecticut, to gain closer access to the New York City financial markets and to serve our clients and prospects on the East Coast of the U.S. more effectively.
  3. As a combined company we have made major steps to integrate the staff members of FN and AV into a single global team for product development, marketing and client services. Members of the management team based in Mumbai and Pune, India, have made several trips to Stamford, CT and Santa Clara, CA. And members of the U.S. management team have been to Mumbai and Pune.
  4. New members of the management team have met with a number of major Financial Navigator clients around the U.S. It was great to talk with those clients in person and to answer their questions.
  5. We conducted a regional seminar in Chicago to introduce FN clients to the new platform that is under development. The feedback from our long-term clients was very positive and encouraging. We are making plans to conduct additional events in other regions of the country over the next year.
  6. Our Product Development Team has begun studying how the FN data can best be converted to the new platform.

Our Combined Future

Now that the initial excitement of forming our new fintech company has settled down, we realize there are tremendous challenges ahead. We need to combine the two powerful software solutions brought together with this merger. The Asset Vantage platform has strong investment analytics and graphics, as well as document management capability and mobile apps. Financial Navigator is known for its rock-solid accounting and reporting functionality. Together, we are working to produce a combined platform that will include all the features of these two successful predecessors.

While our joint software expertise is extensive, integrating the pieces together in the most efficient manner presents a number of technical issues that we are addressing. Our programmers are excited by these challenges, but we recognize it will take time to craft and test all the components. The end result will be well worth the wait but, in the meantime, your patience is much appreciated.

Future Pricing

Several of our clients have asked what they should expect for licensing and service fees in the future. It is too early for us to answer this completely and yet we want to give our clients as much information about future pricing as we can. For now we can only say that there are several factors affecting pricing:

Maintaining FN 9.5

We are totally committed to supporting FN 9.5 for the next few years. However, it is becoming increasingly expensive to support this product as we must devote resources to both the old product and the new platform. Therefore, we will continue the price adjustment program that was first initiated last Fall, before the merger.

The New Platform

The functionality in the new combined platform will be significantly greater than that of either of the two previous products separately. Combining these capabilities within an architectural framework that provides the dependability and flexibility needed to manage huge volumes of data requires the latest technology and software tools. Additionally, we are committed to continually adding new features to the platform in the future. As a result of this investment, you should anticipate higher pricing for the new platform.

Next Six Months

In the next six months, we will be introducing many of the key capabilities we are now developing for the new platform. At that time we will be able to show you the increased functionality and provide you with further pricing details.

Planning Ahead

Clearly, everyone is interested in knowing as much as possible about our plans for specific product releases and upgrade time tables. We will make that information available going forward as the particulars become more solid. In the meantime, there are two steps all clients can take now to prepare for the future. For specifics, please see our separate article in this newsletter entitled “Preparing for the Future.”

This is an exciting time in the history of our company. We look forward to sharing our progress with you in the months and years ahead.

We will have much more to report soon.

Mark and Ed