I want to start the blog off with some background and discuss my motivations for building another portfolio management system. My name is Matt Abar and I was the original founder of Techfi. Techfi made a portfolio management suite that included desktop software (Portfolio 2000) and an Internet service bureau (Advisormart.com). Morningstar and First Trust/FISERV were investors in Techfi and in 2002, we sold it to Advent Software.
After the sale I was forced into retirement by a recently expired no-compete agreement. The last few years have been one long, fun vacation; I moved to Vegas, traveled the world and married a wonderful woman. But I still found myself playing with new technology, coding for fun, blogging and cheering or fuming over things I read in the industry news.
The more things change, the more they stay the same. Our industry has improved over the last five years but we still struggle delivering technology to advisors and planners. All of the portfolio management solutions are closed systems. Nobody is innovating. People have given up.
