Part of this change includes a domain change to the new www.tradewarriorsoftware.com. Along with our new domain, we figured we’d spend a little time cleaning up our website. It turned into more than a “re-thinking” session, but we’re happy with the results, and we’re happy that we can now fully focus our efforts back to software development.

We are excited for what 2012 will bring. TradeWarrior continues to gain traction and recognition in the marketplace as an affordable and easy-to-use rebalancing system. We have a lot of new features and enhancements planned for the coming year to make the software even better. Most of these ideas have come from our fantastic customers. We also have plans to make our support system more intuitive. In the coming months we will make the software “upgrade process” automatic and much more streamlined than it currently is. Also, on the support website, we will begin adding training video’s so you can see how a certain feature works and functions, instead of just reading about it.

We’d like to publicly thank all of our clients who are making TradeWarrior a success. We’d also like to thank our stakeholders and business partners for all the support and guidance they’ve offered us over the years. Here’s to 2012!

Now, onto the AUM fee. We know you hate it. As advisors, we hated it. We often thought to ourselves, why should my software company charge more if I increase my assets? Initially, Nine Mile was not going to charge an AUM fee for Trade Warrior, but once we were on the other side of the table we changed our mind. The reason we decided to stick with the AUM fee model is because it allowed us to charge less to the smaller shops and more to the bigger shops who get more utility out of the software and have higher demands of the software, including support costs which is the doozy. If we charged one flat rate, we would have to charge a much higher base price to make money on our software, which effectively hurts the little shops and rewards the big shops. The other idea we considered was charging for seats (i.e. number of licenses). However, we hit a roadblock with that idea as we found that in this scenario most advisors would just buy one license regardless of whether they were a lone $30M advisor, or a large $800M advisory shop who had one staff member dedicated to trading. Unlike most software, rebalancing software is highly specialized, and thus not necessary to install on every computer in the office. So this brought us right back around to charging a flat price. Going back to our original business thesis of building affordable rebalancing software, the AUM fee was an effective way to even the playing field for everyone and make our software affordable whether big or small. Hopefully this explains our position on why we charge an AUM fee. We struggled long and hard over this, but in the end it made the most sense. If you have an alternative idea, we’re all ears-

Now that you know our pricing and don’t have to call us for a quote, we invite you to schedule a 45 minute demo with us to see the functionality of TradeWarrior and how it can work in your practice.

They have been in development of their program for over two years.  Their development team put a lot of “blood, sweat, and tears” into this project over the past couple years and we are very pleased in how it’s turned out.  We obviously have a biased opinion, but we believe that this is the best Portfolio Management System on the market for investment advisors and money managers.  The system has been developed from the ground up by industry veterans who have done this before, and there was a lot of planning and rewriting to get the features done right.

For those who may or may not know, TradeWarrior, is available as a 3^rd Party Add-In to the FinFolio platform.  What this means for advisors is seamless integration between the two systems.  For instance, if you change the Model associated with a Client; that change will automatically be reflected in both FinFolio and TradeWarrior. You can change the price on a Security, and it will simultaneously change it in both systems.  The list goes on and on. Many advisors run multiple databases in their firm (i.e. CRM, PMS, Financial Planning, Rebalancing, etc), so many know of the headache of maintaining the same client data in all of those databases.  Our integration with FinFolio is the beginning of our shared vision of integrating all these mission critical systems into one centralized database.

On the development front, we are entering our final beta testing stage now, and expect to have our release in the next month or so.

For those who may be interested in TradeWarrior, but not necessarily in switching Portfolio Management Systems to FinFolio, we have a “WhiteBox” version that we will be releasing as well.  This version will integrate with all the major Custodians initially (Schwab, Fidelity, TD Ameritrade, Pershing/SSG), and we are working on integrating with the other major Portfolio Management Systems within the industry.

If you are interested in seeing a demo of TradeWarrior, please contact us at 888-660-6568 x1 or send us a message on our contact page.

Nine Mile Software, Inc. is in its final beta testing stage for their first commercial release of TradeWarrior Small Business. TradeWarrior is a portfolio rebalancing and trading tool designed specifically for the growing Registered Investment Advisory (RIA) marketplace.

Damon Deru, CEO of Nine Mile Software, Inc., stated, “We are pleased to announce that we are in the last stages of beta testing for TradeWarrior. We are making final refinements to the program from industry feedback in anticipation of our full release at the beginning of the 2nd Quarter in conjunction with the FinFolio release. Nine Mile Software should transition to a revenue producing company in the 2nd Quarter of this year.”

The company recently returned from an industry conference, the 2010 Technology Tools for Today “T3″ conference. The T3 conference is dedicated to the technology and software sector in the investment advisory industry. The founders of T3 are Joel Bruckenstein and David Drucker, who are well respected journalists covering technology and software for investment advisors. They have written articles for publications such as, The Wall Street Journal, New York Times, Business Week, The Washington Post, Financial Planning, Morningstar Advisor and Wealth Manager, to name a few. In addition to this, they publish their own newsletter, Technology Tools for Today, upon which this yearly conference is based.

Nine Mile Software had a sponsorship booth at the conference to demonstrate the abilities of TradeWarrior to advisors, brokers, and other software vendors. A short video interview from the Conference can be seen here: http://t3conference.blogspot.com/2010/02/tradewarrior-gives-progress-report-at.html. Their CEO, Damon Deru, also moderated the “What’s new in Rebalancing Software” panel at the Conference, which was one of the most well attended breakout sessions of the conference.

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 Small Business is in Beta testing, with an expected release date in the 2nd Quarter 2010.

“SAFE HARBOR”
This press release contains forward-looking statements. The words “estimate,” “possible” and “seeking” and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.

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.

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.