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FOLIOfn Chooses Bankers Systems
IRA Solutions For On-line Investing Business
(ST. CLOUD, MINN., August 10, 2000) Bankers Systems, Inc. today announced it will
provide IRA services to one of the most talked about new players in on-line investing,
FOLIOfn, Inc. FOLIOfn was founded by Steven M.H. Wallman, a former
Commissioner of the Securities and Exchange Commission. Kiplingers Personal
Finance recently called the companys new way of investing "as revolutionary
as former Vanguard chief John Bogles introduction of index funds 25 years
ago."*
"On-line businesses need quality solutions that
are flexible enough to adapt to a rapidly changing marketplace and consumer demands,"
said Chuck Rau, Vice President of Retirement Plan Services at Bankers Systems. "Our
compliance and support solutions help financial services companies meet that
challenge."
Bankers Systems is providing FOLIOfn with a tailored package of IRA products and
services including Web-based IRA documents, administration services, training, and
consulting. This package makes it possible for FOLIOfn, an on-line brokerage, to
make its unique investing approach available for IRA accounts.
"IRA accounts are a key
component of our service offering," said Elizabeth Piper-Bach, Managing Director of
Brokerage Activities for FOLIOfn. "Bankers Systems was a clear choice based on
the flexible, high-quality products and the knowledge of its team. The Bankers Systems
solution integrated easily into our on-line environment allowing us to move ahead
quickly."
Bankers Systems began offering IRA products and services at their inception. Today, the
companys robust IRA product line serves banks, thrifts, credit unions, and brokerage
and mutual fund companies. The product line includes numerous solutions to meet the
retirement plan business objectives of the financial institution: preprinted, electronic,
and web-based documents; administration and consulting services; resource manuals and
educational products; marketing brochures; plus, a national seminar circuit that trains
over 12,000 attendees a year.
FOLIOfns first product, a proprietary system known as FOLIO investing,
uses the Internet and advanced technology to let investors easily buy and sell entire
personalized baskets of stocksknown as "FOLIOs"with just a few
clicks of the mouse. FOLIO investing combines benefits of mutual fund investing,
including diversification and simplicity, with advantages of stock investing, including
corporate governance and tax planning tools that can save investors money. Instead of
trying to pick stocks one at a time or trying to identify the "perfect" mutual
fund, investors simply select or create FOLIOs that satisfy their investing goals and
preferences. Investors can base their choices on preferred risk levels, personal values,
industry sectors and other factors. Investors can choose from scores of Ready-to-Go
FOLIOs, or create their own, using stock selector tools or even picking one stock at a
time. And investors can always modify any FOLIO to meet their preferences.
About Bankers Systems
BANKERS SYSTEMS INC.®, a CCH INCORPORATED company, is a leading national provider of
compliance resource solutions for financial institutions and their legal counsel. Founded
in 1952, Bankers Systems is nationally recognized for the development and delivery of
compliance products that support lending, deposit, and retirement plan financial services
transactions and related services. Bankers Systems exclusive Expere knowledge base is the
power behind its documents, software, training, and other services that support all 50
states and the District of Columbia. More than 12,000 financial organizations, including
83 percent of U.S. banks, count on Bankers Systems solutions to increase their efficiency,
productivity, and profitability and to help them manage risk. The companys
customers include banks, credit unions, finance companies, and brokerage and mutual fund
companies, and their solutions are used by over 60 of the industrys leading core
processors and systems integrators. To learn more about Bankers Systems, Inc., visit its
web site at www.bankerssystems.com.
About FOLIOfn
FOLIOfn, Inc.www.foliofn.comtogether
with its wholly-owned brokerage subsidiary FOLIOfn Investments, Inc. is harnessing
the power of the Internet to enable individual and smaller institutional investors to
invest and trade better, smarter, and easier. FOLIO investing, the first in the
series of smart financial services from FOLIOfn, offers a whole new way to invest
and trade, combining many of the best qualities of mutual funds, traditional brokerage
services, and on-line trading.
FOLIOfns financial backers include PSINet (Nasdaq: PSIX), one of the
nations leading Internet service providers, Mayfield Fund, one of the countrys
elite capital partnerships, meVC Draper Fisher Jurvetson Fund I (NYSE: MVC), a venture
capital fund that provides individual investors access to private equity investments, and
American Century Ventures, the strategic investment group for American Century, a mutual
fund, brokerage, and investment services company serving nearly two million individual and
institutional investors and managing more than $110 billion in assets. FOLIO investing
is offered through FOLIOfn Investments, Inc., a member of NASD and SIPC. FOLIOfn
and its subsidiaries are based in Vienna, Va. Unlike FOLIOs, mutual funds are managed by a
paid fund manager and registered with the SEC. FOLIO investing, like all investing,
involves risk including the loss of principal.
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*Source: Kiplingers Personal Finance,
May 2000
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