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| Quicken® 2003 For Windows Helps Customers Optimize Their Finances |
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| Intuit Unveils New Solution That Links Analysis to Informed Action As Next Step In What Personal Finance Software Can Deliver |
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MOUNTAIN VIEW, Calif. -
August
21,
2002 -
For almost two decades, Intuit Inc. (NASDAQ: INTU), the leading provider of financial software and Web-based services for consumers, small businesses and accounting professionals, has helped people better organize and manage their finances. Today, with the release of the Quicken 2003 product line and the upcoming release of the new Quicken® Brokerage powered by Siebert, an exclusive strategic alliance between Intuit and Siebert Financial Corp. (NASDAQ: SIEB), parent of Muriel Siebert & Co., Inc., Intuit is unveiling an entirely new kind of financial management solution for its customers -- one that could help put more money in their pockets.
A brand new product, Quicken 2003 Premier, is designed to help customers optimize their finances. Quicken Brokerage powered by Siebert, also debuting this year, is the only major online brokerage that proactively informs users of the potential tax implications of a trade before they make it. Together, these two create an entirely new category called unified financial management that combines personal financial software and brokerage services in a unique way. This combined solution leverages the account consolidation and powerful analysis tools of Quicken, with the ability to take immediate action via seamlessly integrated trading links from Quicken software to Quicken Brokerage powered by Siebert. Financial insights can now be brought to bear to solve the major problems associated with the two ways in which people manage their finances. Some consumers are aware that their finances are doing poorly but aren't taking action to change it, while others are taking action that isn't as informed as it could be.
"For consumers to truly improve their financial lives, they need to be better informed about where they are not doing well, and they need to take action where there are opportunities to do better," said Roy Rosin, general manager, Quicken. "They need more than just the data aggregation features that have been traditionally offered by personal finance software.
"Most people are unaware of issues that affect their portfolio such as tax efficiency, fees and expenses that are hurting their mutual funds' performance, or capital gains that can be offset to lower their tax bill," Rosin continued. "Because it's time consuming and difficult, they just don't do the research necessary to maximize performance. The combination of Quicken 2003 and Quicken Brokerage powered by Siebert is going to bring these issues to their attention, provide alternatives to do better and help them take informed action with good information.
"To solve the problem of people taking action without information, tools such as our One-Click ScorecardTM, can provide instant insight into issues with cash flow, earnings or debt problems - insight that could have saved investors a great deal of money in the recent market environment. The new tax implications tool offered by our brokerage service can make users aware of the tax impact of a trade before it's too late."
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| Quicken’s brand new account-based design |
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The Quicken 2003 product line will feature a new look and feel that is the culmination of the largest customer research program ever conducted for the product since it was introduced back in 1984. Quicken's new design mirrors the way customers think about their finances. In independent testing, Quicken 2003 proved to be easier to use than previous versions of Quicken or the personal finance software of its major competitor.
Features, tools and services found in Quicken 2003 are designed to not only help customers with the fundamental issues surrounding their personal finances, but can help them improve their financial situation.
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| What Do I Have? |
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Proper financial management begins with data that is set up quickly, accurately and is easily kept up to date. Quicken 2003's new Guided Setup enables both new users and upgraders to select and achieve their financial goals by telling the software exactly what they want to get out of it. "No two Quicken users are alike," said Rosin. "Guided Setup helps to ensure that every Quicken user can get set up correctly in minutes to achieve the benefits they're seeking, whether it's to see where their money is going, tracking their investments or getting out of debt."
The cornerstone of the new design is the Account Bar that provides one-click access to all your accounts and an always-available view of your balances and net worth. The Centers of the Account Bar, (Cash Flow, Investing, and Property & Debt), organize accounts for easy access to information. Each center contains a "My Data" tab that offers alerts, account information and other features that make it easy to identify what needs to be done today.
Quicken now connects to more than 2,000 banks, credit card companies, investment companies and 401(k) providers - far more than any other personal financial software. Additional enhancements make it easier than ever to set up online downloads to minimize data entry and schedule when you want Quicken to download your data when you're away from your computer. "Manually typing in data has always been the painful part of using any personal finance software," said Rosin. "We've taken major steps in Quicken 2003 to minimize that headache, to help you maintain complete and up-to-date records with minimal effort."
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| How Am I Doing? |
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Once their information is in Quicken, it's important for the user to understand how they're doing across all areas of their finances. Each center mentioned above also contains an "Analysis and Reports" tab that enables customers to easily understand how they are doing. Centers contain the most important information, tools and reports for that area of your finances and include "snapshots" that answer the basic financial questions that are top of mind to most consumers. For example, the Cash Flow center includes a chart to answer the question "Where am I spending my money?" while the Investments center lets investors know how their portfolios have performed over time. These and other often used charts are available without having to run a separate report and drilling down for more information has also been made easier.
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| How Can I Do Better? |
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Quicken 2003 Premier helps customers better evaluate their financial situation and make better decisions by alerting them when they can do better. More than just an "F-Y-I," the redesigned alerts system notifies the user of the important investing and tax issues they should be aware of as well as market changes that may impact their finances. "The Internet is a great source of information, but it's difficult to know which bits of information are meaningful to your portfolio. With our new alerts system, we bring you the information that is relevant to your portfolio. We'll not only let you know what happened - such as one of your funds diminishing your returns with high fees and expenses - but we'll tell you why you should care and reveal specific options to consider to help you understand what you can do next," said Rosin.
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| Alerts in Quicken 2003 include: |
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Tax-Informed Investing Alerts
- See when you can offset capital gains/losses
- Identify investments that are not tax efficient
- How mutual fund distributions impact your taxes
- Holding period changes
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General Investing Insights
- Mutual fund fees and expenses
- Mutual fund rating changes
- Stock earnings announcements
- Stock intrinsic value information
- One-Click ScoreCardTM rating changes
- Analyst rating changes
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| Help me Take Action |
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In May of this year, Intuit and Siebert Financial Corp. announced an exclusive strategic alliance to offer a full range of online and telephone-based brokerage services. Created by Intuit and Siebert Financial's wholly-owned retail discount brokerage subsidiary, Muriel Siebert & Co., Inc., a top-rated discount brokerage with more than 30 years experience, Quicken Brokerage powered by Siebert, is expected to be available in early September as a complete online brokerage located on the Quicken.com Web site at www.quickenbrokerage.com.
Enabling users to go from organizing their financial data to taking informed action, the true power of this new brokerage service is realized as a unified financial management solution integrated with Quicken. Quicken Brokerage powered by Siebert is the only brokerage service designed specifically for Quicken users, so it leverages the user's comprehensive financial picture - including accounts held at other brokerages and mutual fund companies.
The ability to automatically preview the bottom line tax impact of a trade before it is made provides users with valuable insight into their investment decisions and helps minimize tax-time surprises. Coupled with powerful news and analyst alerts on fast breaking company, industry and market events, this new tax tool gives investors access to data they need to make better-informed investment decisions in today's volatile market. "Quicken's unsurpassed connectivity to financial institutions, robust investment tools and tax expertise make us uniquely positioned to deliver this integrated solution," said Rosin. "True to Intuit's pioneering history, this new solution is the latest way in which we are revolutionizing the way people manage their finances and the next step in what personal finance software can deliver."
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| Availability and Pricing |
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Quicken 2003 will be available on August 21, 2002. Suggested retail prices are as follows:
Product
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Suggested Retail Price |
Price After Rebate |
Upgrader* Rebate |
| Quicken 2003 Basic |
$29.95 |
N/A |
$29.95 |
| Quicken 2003 Deluxe |
$59.95 |
$20.00 |
$39.95 |
| Quicken 2003 Premier |
$79.95 |
$20.00 |
$59.95 |
| Quicken 2003 Premier Home & Business |
$89.95 |
$20.00 |
$69.95 |
* Intuit rebate available for previous owners of Quicken software.
Consumers may learn more about and purchase Quicken 2003 products at www.quicken2003.com or by calling 1-800-952-2558. Additional information about Quicken 2003 products is also available at Intuit's online pressroom located at http://www.intuit.com/pressroom.
NOTE TO EDITORS: Information about Quicken 2003 for Mac can be found in a press release distributed by Intuit on July 17, 2002.
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About Intuit Inc.
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Intuit Inc. (NASDAQ: INTU) is a leading provider of business and financial management solutions for small businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing.
Founded in 1983, Intuit has annual revenue of more than $1 billion. The company has over 6,000 employees with major offices in 11 states across the U.S. and offices in Canada, Japan and the United Kingdom. More information can be found at www.intuit.com.
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Intuit, the Intuit logo, Quicken, and Quicken Brokerage, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Quicken.com and One-Click ScoreCard, among others, are trademarks and/or service marks of Intuit Inc., or one of its subsidiaries, in the United States and other countries. Siebert is a registered service mark of Muriel Siebert & Co., Inc. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.
Some features require Internet access and are subject to change. Services vary among participating financial institutions and may be subject to application approval, addition terms, conditions and fees.
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