Co-founded by Mike Weiss in 1994GreenTrak
A reporting service that showed high net worth investors their real performance and their real fees.
Talking with clients through the biotech crash, Mike and a partner realized nobody really knew their performance net of inflows, outflows and fees. They studied ten brokerage statements and found that none disclosed fees or performance. In 1994 they co-founded GreenTrak, which pulled all of a high-net-worth client's data together and laid out performance like baseball standings.
GreenTrak merged privately with a much larger company in 1998 at a valuation close to half a billion dollars, lost its growth momentum when clients froze new spending ahead of Y2K, and was acquired by Kinexus in 2001 in a stock deal; Advent Software bought Kinexus in 2002.
Mike Weiss was a co-founder of GreenTrak. He did not run it alone or sell it alone.
Read it in Mike's own words: Chapter 4, An Educated Consumer
The whole story, in Mike's own words.