Open Finance Network Acquires the o

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.

By TIMOTHY J. CARTWRIGHT, Naples
Naples Daily News, 5:01 p.m., Friday, May 2, 2008

If “necessity is the mother of invention” as Plato said, then it is high time for Southwest Florida to invent a new economy!

For too long our region has satiated itself on real-estate development as if it were the only item on the menu in a restaurant serving economic development. This addiction has resulted in our region teeming with residential-housing inventory — with no appetite to scan further down the menu. This craving has created lethargic regional economic performance and taken the shine out of our Sunshine State.

To read the entire article, click on this link:

SW Florida needs to invest in economic innovation

2008-01-31 16:29:27 - Tim Cartwright, President of the Gulf Coast Venture Forum (GCVF) in Naples, was recently asked to join the Florida Venture Forum’s ‘Early Stage Selection- Committee. This committee will be responsible for the selection of Early Stage companies from across the State of Florida to present their investment prospectus at the inaugural conference scheduled for May this year.

Tim Cartwright, President of the Gulf Coast Venture Forum (GCVF) in Naples, was recently asked to join the Florida Venture Forum’s ‘Early Stage Selection- Committee. This committee will be responsible for the selection of Early Stage companies from across the State of Florida to present their investment prospectus at the inaugural conference scheduled for May this year.

The Florida Venture Forum, the only statewide not-for-profit organization designed to bring emerging growth companies together with sources of capital, will present this new conference focusing on earlier stage companies based throughout Florida. The inaugural Florida Early Stage Venture Capital Conference is expected to be held in late May 2008 in the Orlando area.
‘We plan to build on the success of the Florida Venture Capital Conference, which takes place each year in January, to present a smaller scale one day Early Stage Conference for early stage emerging growth companies to present their company’s story to a group of early stage focused venture funds, Angel investment groups and qualified high-net worth individuals,- said Alan Taetle, General Partner of Noro-Moseley Partners, an Atlanta, GA-based venture capital group. ‘Companies that would be targeted in this space would include start-up life and bio-based groups, as well as emerging technologies from across a full spectrum of industries.-
‘This is a major step forward for Florida’s innovation economy and building the vital links across the capital continuum. Many potentially successful firms die for lack of capital, never receiving the earliest form of funding called seed-stage funding. When those firms fail to find capital, innovation dies before it has a chance to succeed. This conference will highlight the importance of seed-stage capital and its importance in creating later stage opportunities for the venture capital community,- says Cartwright.
The Gulf Coast Venture Forum is a group of Southwest Floridians dedicated to making our region’s new and emerging businesses successful. The Forum promotes the success of the region’s new and emerging businesses by bringing together entrepreneurs, educational resources, capital providers and service providers. The group also offers informative educational programs presented by seasoned, recognized professionals and business people, providing a place for the sharing and exchange of business and technical experience. Members of the Forum meet monthly to hear about local investment opportunities. To encourage capital investments in Southwest Florida businesses, the Forum seeks to identify sources of private equity investment and venture capital.
The Gulf Coast Venture Forum is always open to new members. Monthly meetings are scheduled October through June each year. The GCVF is also available to provide speakers to local organizations who want to learn more about the organization. Interested parties are encouraged to view www.gcvf.com or call 239-262-6300.