Mar 5

Written by: Matt Abar
3/5/2009 2:30 PM

We've run into some feature creep with the beta and we're running late. Feedback from the beta sites prompted us to add additional features. Our goal is for clients to start running the FinFolio beta in parallel with their current systems which is a necessary step for any new software but doubly so for a portfolio management system, due to the numerous transaction interfaces with custodians, legacy software, and complementary systems.

Importing transaction data from custodians or legacy PMS systems is very tricky. If there *is* a specification for a particular interface, important details are usually missing. Information is often contained in comment fields or in undocumented alternate transaction codes. The sample data we work with rarely has anything but the most common transaction types, so we don't know how a custodian handles corporate actions, reversals, option expirations, or other uncommon situations until we see it come down in the live data.

A second, but less important goal, is to hit the Techfi feature set with our first beta. We're missing some minor items but it's close. FinFolio is a richer product than Techfi was so even after the beta release we have a long list of features to add. I anticipate one or two more releases over the next few months, each one adding more of the final feature set.

The beta will include:

• Edit screens - Advisor, Household, Portfolio, Client, Account (positions, transactions), Security (prices), Report Package
• Errors and alerts
• Accounting engine
  • Cost accounting - LIFO, FIFO, Highest, Lowest, Specific Lot
  • Tax accounting
  • Multi-currency accounting
• Search
• Reports:
  • Cover Page
  • Table of Contents
  • Positions
  • Transactions
  • Portfolio Appraisal
  • Realized Gains
  • Unrealized Gains
  • Income/Expense
  • Purchase/Sale
  • Billing Invoice
  • 1099 Reconciliation
  • Performance by Security
  • Performance History
  • Performance by Asset Class
  • 2-Graph Report (any two graphs)
  • 1-Graph Report (any graph)
• Imports:
  • Schwab
  • Pershing
  • Fidelity
  • TD Ameritrade
  • DST
  • FinFolio Generic
  • Internet Pricing
• Graphs (for Screens and Reports)
  • Position Values
  • Class Values
  • Model Target
  • Invested vs. Earned
  • Position Values Over Time
• Conversions
  • Techfi
• Billing
• Rebalancing
• Performance returns
• Dropdown lists
• Plugin Framework
• Object Model API Documentation
• C#.Net Sample Project

I'll update you when we have an exact release date, but right now it's looking like late-March.

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