For Immediate Release                                   

Financeware Names David Hultstrom Senior Productivity Specialist and Patrick LaJeunesse, Vice President of Internet Business Development

RICHMOND, Va., June 26, 2000 – Financeware, Inc. (www.financeware.com), a leading application service provider for the financial services industry, today announced that David Hultstrom has joined the company as senior productivity specialist and Patrick LaJeunesse as vice president of Internet business development.

“David and Patrick both have an impressive range of skills that will add immense value to our company and our clients,” said David Loeper, president and CEO of Financeware.  “They are both extremely intelligent people who understand technology and how to apply it in a meaningful way to the financial planning process.”

Hultstrom comes to Financeware from First Union Securities where he was a vice president and productivity specialist responsible for representing the Private Client Group in the selection, development, customization, implementation, and enhancement of sales force automation software.  Prior to First Union, Hultstrom taught business and computer courses in several professional and academic settings.  In addition, he has also owned and operated a business specializing in tax preparation and planning, worked for several firms doing tax preparation and internal auditing, and has worked as a financial consultant for various firms.

“Financeware was a natural fit for me,” said Hultstrom.  “As senior productivity specialist, I help advisors make money using technology, and the Financeware suite of tools can revolutionize their business by improving their productivity while producing a better product for the client.  I look forward to helping Financeware change the way financial advisors do business.”

Patrick LaJeunesse joins Financeware as vice president of Internet development and will oversee all online partnerships at Financeware, including co-branded sites that Financeware has developed with numerous institutions.  Prior to joining Financeware, LaJeunesse was senior business development manager for World Investor Link, Inc., a company that provides investors with mutual fund prospectuses and annual reports.  Before World Investor Link, Inc., LaJeunesse worked as a financial planner for Prudential Securities in Williamsport, Pa., where he earned the distinction of top mutual fund salesperson for the region.

“The Internet is clearly the future for financial planning.  I have watched the surge in online stock trading and the online purchase of mutual funds and know that online financial planning is the next stage,” said LaJeunesse.  “The management team at Financeware sees this and has positioned the company as an extremely strong player in this field.”

Based in Richmond, Va., Financeware.com is a privately held company formed to develop and market online financial planning tools for professional financial advisors and their clients.  FinancialPlanAuditors.com (www.financialplanauditors.com), Financeware’s first Web-based financial planning tool, has had more than 5 million hits since its April 1999 launch and recently earned the Forbes Best of the Web designation.  Currently, more than 6,000 financial advisors are registered to use the site and assets on the system exceed $5 billion.  For more information see www.financeware.com.

Contact:
Shannon Jackson or Amy Greene
Financeware.com
(804) 644-4711 
e-mail: sjackson@financeware.com

###