MoneyGuidePro this afternoon has issued the following statement to its users in response to Financeware lawsuit.
This Website Is For Financial Professionals Only
To All MoneyGuidePro Subscribers
Yesterday, Financeware, Inc. filed a lawsuit against UBS claiming that its use of MoneyGuidePro infringes on two Financeware patents.
As the developers of MoneyGuidePro, PIEtech, Inc. vehemently denies any infringement. We will aggressively defend ourselves and our customer, UBS, from these baseless claims.
I have spoken to many in the industry who feel these patents should never have been issued. Personally, I am outraged that anyone would attempt to patent the core tenets of the financial planning process. This is not just a threat to MoneyGuidePro, but to our entire industry. No one should own the financial planning process and try to charge a tariff for its use. Now, more than ever, we need to encourage innovation in the software that facilitates your ability to deliver professional advice to your clients.
It is important for you to know that our position is simple: MoneyGuidePro does not infringe on these patents and we are confident our defense will be successful.
Thank you for taking time to consider this matter, and for your continued support as a MoneyGuidePro subscriber. My commitment to you is that this unwarranted attack will not distract us from the continued innovation you have come to expect from us. I would appreciate hearing your thoughts and comments.
Please contact me at
or 804-744-5900 ext.100.
Read an earlier story about the Financeware lawsuit.