We were pleased to recently announce our Joint Venture Agreement with FinFolio.  You can see the press release here:  http://www.marketwire.com/press-release/Nine-Mile-Software-Inc-936130.html

The joint venture between our two companies is something we’ve been working on for quite some time now, so we’re happy to finally publicly announce the news.  With this venture, a free copy of TradeWarrior (named TradeWarrior Express) will ship with every copy of FinFolio.  We believe this will offer greater visibility to our program, and hopefully a good way for advisors to test drive TradeWarrior before upgrading to our either our mid-grade version (TradeWarrior Small Business) or the full-featured version (TradeWarrior Ultimate).

We have a lot of faith in the FinFolio group.  They have been very successful in this arena before (most notably with Techfi and Portfolio 2000), and we believe they will be very successful once again, and we are excited to be a part of that.  One of the main reasons we have decided to partner with FinFolio is their concept of integration within the financial services industry.  As anyone who works in the industry knows, there is very little integration between custodians and software companies.  The main culprit is the fact that there’s no standard data format for the industry, but that’s another battle for another day.  What this means to an investment advisor, is that they have to maintain multiple databases.  Therefore, any time they need to change client data in their database, they have to change it in typically 3 – 4 databases.  This kills a lot of time and efficiency, not to mention the increased risk of human error. 

FinFolio’s vision is to have multiple 3rd party vendors on their platform that are all fully integrated ala carte style.  For an example of the future vision, an advisor who signed up with FinFolio would then have their choice of adding a Rebalancing program, a CRM program, Financial Planning Software, etc. that are fully integrated not only with FinFolio, but with each other.  Coming from an investment advisory background, I can’t tell you how excited I am about this.  It will greatly increase the efficiency of an RIA’s office.  When we founded Nine Mile Software, we had the same vision of an “all-in-one” database and we were excited to have partnered with FinFolio who has the same vision.  Nine Mile Software is the first 3rd Party vendor to sign on with FinFolio, which signifies the first independent rebalancing program to be completely integrated with a Portfolio Management System.  We look forward to building our future with FinFolio.