FAQ: Financial Navigator/Asset Vantage Merger


Who is Asset Vantage?

Asset Vantage is a multinational software company providing a next generation, cloud/mobile-based asset management, accounting and reporting system that caters to the complex and discrete financial needs of customers ranging from individual wealth holders to fully staffed family offices and the advisors that support them. Its software provides fully configurable portfolio reporting and reconciliation, data aggregation and analytics tools across all asset classes, currencies and geographies. You can read about the company at AssetVantage.com. Our combined firms have over 50 employees.

Why did Financial Navigator join Asset Vantage?

Financial Navigator realized that merging with a firm that shared a similar vision, understood our customers’ needs, and was a good fit culturally would be the best way to ensure a long-term solution for both our clients and our employees. After years of discussions with various firms, we determined late last year that Asset Vantage would be a great partner for us. We are excited about the future of our combined firms and our enhanced ability to continue meeting the financial reporting needs of our clients.

Why did Asset Vantage choose Financial Navigator?

Asset Vantage was looking for a company that had a great reputation for client service, with a proven track record of software development and strong product in the market. They also wanted a team of professionals that was committed to developing and supporting world class products in the area of financial reporting for high-net-worth (HNW) clients. Lastly, they wanted a company that shared a similar vision and recognized the advantages of being part of a global financial technology firm. With Financial Navigator, they achieved all of these requirements.

Will there be any changes to the Financial Navigator team?

We do not anticipate any personnel changes. Ed Van Deman and his team will remain in place to meet your financial software and reporting needs. Some internal reorganizing will probably occur, as we now have over 50 employees globally, but that will not affect the quality service you will continue to receive.

Will Financial Navigator be changing its name?

As of now, the firms will maintain their own branding. In coming months, we will work with our advisors and staff to determine if changes in our marketing approach would be desirable.

How will the Financial Navigator and Asset Vantage products be merged?

There will be a gradual merging of the two platforms over the next several years. This process will be driven by client needs. Before any FNI client is allowed to move to the Asset Vantage platform, we must ensure all the features that a client needs are fully functional in the new system. If features need to be added, this development work will be the highest priority of the Financial Navigator and Asset Vantage teams.

What else should I know?

Everyone is excited about the opportunity this business combination provides to our clients and employees. We expect this change to be a win-win for everyone involved. For additional information, we encourage you to visit the Asset Vantage website.

Read the complete Press Release »

When my current Financial Navigator software license expires will I have to switch to Asset Vantage’s product?

No, each company will continue to offer and support its own products. In time, however, all the functionality currently present in FN 9.5 and Polaris will be included in Asset Vantage’s products. As a result, there will eventually be no need for separate products.

Will Financial Navigator’s service/support change?

You can continue to rely on the same experienced client service personnel you are currently familiar with. Over time, we also expect to expand our support team to the East Coast, which will provide U.S. clients with greater service coverage during the day.

Will the renewal price for my Financial Navigator software license change?

Financial Navigator has been adjusting the price of its software licenses over the last two years to reflect the technical support needs of our clients. These adjustments will continue to be made until all clients are on the current pricing schedule. These changes were initiated before discussions started with Asset Vantage and are not affected by the acquisition.

Will there continue to be on-going enhancements to Financial Navigator’s Polaris product?

We will continue to enhance the new Polaris product, but not at the rate we have previously done. Instead, we will be putting development efforts into adding the features to the the Asset Vantage platform that we had planned for the Polaris product. The end result will be a powerful platform that will serve the needs of more users than ever before.

Will the OneView Services offered by Financial Navigator be continued?

Yes, Financial Navigator will continue to offer its outsourced accounting and reconciliation services and will eventually merge these activities with the similar services offered by Asset Vantage.

In what ways will this benefit Financial Navigator’s clients?

Our goal for the future will be to continuously provide greater functionality and to combine the best features of both systems. We want to be the leader in the space, providing clients with the features and capabilities to support their needs and streamline their processes. We also plan to increase our customer support operations, especially for clients on the East Coast. We are excited about the enhancements we have planned and believe you will be too.

Who do I contact if I have a problem or concern?

You can always contact our Customer Service (CustomerService@finnav.com or 650-962-0300 ext. 2050) to ask any questions. Alternatively, you can also email us at Editor@finnav.com.