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Author: TMFTaurean Big gold star, 5000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 10363  
Subject: Are quicken's days numbered? Date: 2/15/2009 10:38 PM
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I posted this over on Intuit's quickencommunity.com website:

http://quickencommunity.com/webx/.59b6e96d/5

The March issue of Smart Money has a 3 page interview with the CEO of Intuit, Brad Smith. They asked him a couple of very pointed questions about Quicken and his answers left me concerned for Intuit's plans for Quicken.

Quicken is probably Intuit's best known product line, but it barely contributes to the bottom line. Does it have a future?
The category of personal finance software for the desktop has been declining for a decade. The writing is on the wall. Most people manage their finances though their bank now. So, we've taken the best of Quicken and built it into the Digital Insight banking platform.

Are banks using the Quicken brand then?
Some do. We let the bank decide.

It sounds like Quicken's days are numbered.
No. We're launching Quicken Health and Expense Tracker to enter the health care market. Like we did for taxes, we're going to help you manage the financial decisions around your health care. Right now the average consumer waits until they get the third bill before they actually pay, because they're not sure what the insurance has covered or what they're supposed to pay. We're trying to make it easier for people to understand what they owe, get it paid and do it in English

The non-answer about the future of quicken (he totally dodged the question) and the other statements about "...the writing being on the wall" and something called the Digital Imaging platform (which sound like it's licensed to banks who provide it as a, presumably, paid for service) leave be very confused and concerned about Quicken's future.

I have been a loyal customer of Intuit for over 10 years and have all of our family's financial data tracked in Quicken. It would be devastating to have Intuit pull the rug out from under us by discontinuing Quicken or migrating it to an on-line only platform. I value the privacy of my financial data and do not wish to place all of it on some third party website that is out of my control.

In light of these comments by Intuit's CFO I think the users of quicken deserve some sort of clear response as to what Intuit's plans are for the product and all of the users who have put their faith and trust in it.

Mark
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