June 11, 2009: Beta Release of TradeWarrior for FinFolio
June 14, 2009
Nine Mile Software Inc. (OTC BB:NMLE.OB – News) is pleased to announce the Beta release of its flagship rebalancing program, TradeWarrior Express, on the FinFolio platform. The Beta release signifies that the program is feature-complete and has passed all in-house testing. Nine Mile Software will begin working with interested Registered Investment Advisory (RIA) firms to build an initial beta testing pool of five to fifteen advisory firms to further test and refine TradeWarrior in a real world environment before its final release.
Damon Deru, Nine Mile Software CEO, stated, “We are excited to announce the beta release of TradeWarrior Express. This is a major milestone for Nine Mile Software and its stakeholders. It has taken us a little longer than we had initially planned, but we felt it was important not to compromise on the quality of the software or features. We feel confident releasing TradeWarrior into the market and believe that advisors will have a favorable first impression of TradeWarrior.”
Nine Mile Software’s joint venture partner, FinFolio, also released the beta version of their Portfolio Accounting software at the same time. Nine Mile Software and FinFolio signed a Joint Venture in December 2008. TradeWarrior Express will ship with every copy of FinFolio that is sold as a way for advisors to test drive TradeWarrior’s rebalancing technology in their practice.
Nine Mile Software recently started development of TradeWarrior Small Business, which is the upgraded version of TradeWarrior Express. The Small Business version is geared towards the small to mid-size advisory shops which make up the majority of the RIA marketplace that Nine Mile Software is targeting. Nine Mile Software anticipates releasing TradeWarrior Small Business in the 4th Quarter of 2009.
About Nine Mile Software, Inc:
Nine Mile Software was founded by former investment advisors and provides a practical real world approach to solving the rebalancing and trading needs that advisors face. TradeWarrior Express is currently in Beta release.
About FinFolio:
FinFolio (www.finfolio.com) is currently developing an open architecture portfolio accounting program designed for investment advisory and brokerage firms. FinFolio’s founder, Matt Abar, has been creating software for advisors, brokers and planners for 15 years and has been successful in several technology ventures. Mr. Abar was the creator and CEO of Techfi, which established several milestones in the wealth management industry. Techfi developed the first commercially available client/server portfolio management software (Portfolio 2000), and the industry’s first web-based portfolio management service bureau (AdvisorMart.com). First Trust/FISERV and Morningstar were Techfi shareholders when the company was sold in 2002 to Advent Software for $23M.
Nine Mile & FinFolio announce Joint Venture
January 19, 2009
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.
Our stock is live (ticker: NMLE)…and some other updates
October 17, 2008
Well…it’s been a long time in processing, but we finally received our ticker NMLE. We’re pretty satisfied with the one we ended up with. You can check it out by searching for the ticker, like this. We again want to take this opportunity to thank all of our investors. In our roller-coaster market of late, Nine Mile Software is running lean and mean, and we remain on track for our beta releases. We remain well capitalized and our market opportunities are looking better than ever, and it’s all thanks to you.
We also wanted to take this opportunity to give everyone an update on our software development. We are currently looking forward to testing our trade rebalancing software program in the coming months (late 08, early 09). We’re currently seeking registered investment advisers for beta testing of our new software. If you’re interested, please contact us here.
Other notable items:
We will be sending letters out to our shareholders in the next couple of days in order to advise them on the new ticker and the process for getting your stock certificates into your brokerage accounts. We’ve also completed our newsletter sign-up forms, and we’ll be sending out newsletters to our shareholders, clients and potential clients electronically. The letters to our shareholders will detail the process for signing up for our electronic newsletters…let’s cut costs and save some money and trees.:) If you’re interested in our newsletters, please sign up here.
In closing: Here is to making TradeWarrior the most powerful and industry leading financial trade rebalancing software on the market. The team here at Nine Mile Software will continue to invest our time, our energy, our money and our passion to the success of TradeWarrior and Nine Mile Software. Cheers!
Nine Mile Software…(an introduction of sorts)
June 26, 2008
