Fifth Avenue Advisors

Mesa gets Cubs Spring Training nod.

Hurdles may still present opportunity for Collier County

Organizers prepared if Collier County gets second chance

NAPLES, FL (January 27, 2010) – While the Chicago Cubs will work exclusively with Mesa, AZ, to negotiate a new Spring Training facility, leaders in Collier County, FL, will continue to develop plans while monitoring Mesa’s progress.

From the first meetings with Tom and Laura Ricketts, it was easy to recognize their integrity and commitment to Cubs fans. This was evident today by their decision to respect the history and tradition in Mesa.

The non-binding Memorandum of Understanding (MOU) signed between the Cubs and Mesa provides an exclusive negotiation period to complete work towards a final agreement. Within a stated timeframe, multiple legislative and funding hurdles, including a voter referendum, must be cleared by the City of Mesa and State of Arizona; otherwise, the team can stop negotiations, and re-start discussions with Collier County.

Project Home Run! sponsors have proposed a public-private partnership utilizing tourist development taxes, state funds designated for baseball and private funding. Neither county sales taxes nor county property taxes are being considered to pay for the project.

Florida Governor Crist stated, “Today’s decision by the Chicago Cubs to exclusively negotiate with Arizona officials ends one phase of their pursuit of a new spring training home and begins another.  The dedicated civic leaders involved with Project Home Run! and the State of Florida remain ready to bring the Cubs to Naples should the remaining hurdles to a binding agreement not be overcome.  The Ricketts family has been open and honest and I wish them well.  Florida stands ready to step in.”

Open Finance Network Acquires the operating subsidiaries of Invest Holdings, Inc.: American Securities Group and Epluribus, Inc.

CHARLOTTE–Open Finance Network has acquired American Securities Group, an independent broker/dealer and Epluribus, Inc, a software developer, located in Boca Raton, FL.

American Securities Group, Inc., (Member FINRA/SIPC) is a fully disclosed introducing Broker/Dealer offering back-office services and access to a variety of Separate Account Managers to independent Investment Advisors.  American Securities Group also offer discount online brokerage services.   Epluribus, Inc. is the developer of the Wealthware Trading Platform.

Open Finance Network President Vic Esclamado said, “The acquisition of American Securities Group was an important step in our overall strategic plan to provide full-service, enterprise-wide services to the independent financial advisor market.”

Open Finance Network is a leading provider of open architecture front- and back-office technology and service solutions for family offices and fee-only advisors.   OFN’s solutions empower advisors by eliminating the administrative and financial friction involved in delivering best-of-class approaches across their business, wealth and portfolio management processes.   OFN is based in Charlotte, N.C., one of the nation’s leading financial technology and services centers.   The company has a full-time staff of approximately 100 people and has over $14 billion in assets under administration.

Compass Advisory Group advised the shareholders of Invest Holdings, Inc. on this transaction.

Our wealth management practice has grown.  Magnus Capital has joined forces with a talented wealth management specialist from Naples, Florida.  Gary Price has joined our wealth management division, deepening our team and broadening our personal service.