<PAGE>

                                                                    Exhibit 99.2

HEDGEWARE, INC.
Financial Statements
December 31, 1998 and 1997
<PAGE>

                       REPORT OF INDEPENDENT ACCOUNTANTS


To the Board of Directors and Stockholders of
HedgeWare, Inc.


In our opinion, the accompanying balance sheet and the related statements of
operations, of changes in stockholders' deficit and of cash flows present
fairly, in all material respects, the financial position of HedgeWare, Inc. at
December 31, 1998 and 1997, and the results of its operations and its cash flows
for each of the years then ended, in conformity with generally accepted
accounting principles.  These financial statements are the responsibility of the
Company's management; our responsibility is to express an opinion on these
financial statements based on our audits.  We conducted our audits of these
statements in accordance with generally accepted auditing standards which
require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement.  An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management, and evaluating the overall
financial statement presentation.  We believe that our audits provide a
reasonable basis for the opinion expressed above.

As discussed in Note 10 to the financial statements, on March 11, 1999, the
Company became a wholly owned subsidiary of SS&C Technologies, Inc.

PricewaterhouseCoopers LLP
Stamford, Connecticut
May 24, 1999

                                      -1-
<PAGE>

HedgeWare, Inc.
Balance Sheet
------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                  December 31,
                                                                                1998         1997
<S>                                                                         <C>           <C>
                         Assets
Current assets
  Cash and cash equivalents                                                 $   137,841   $   24,649
  Accounts receivable, net of allowance for doubtful
   accounts of $142,143 and $16,360 at
   December 31, 1998 and 1997, respectively (Note 2)                            838,645      382,804
  Prepaid expenses and other current assets                                      32,447       27,694
                                                                            -----------   ----------
      Total current assets                                                    1,008,933      435,147

  Fixed assets, net (Note 3)                                                    294,084      238,594
  Other assets                                                                   14,180       15,313
                                                                            -----------   ----------
      Total assets                                                          $ 1,317,197   $  689,054
                                                                            ===========   ==========

                Liabilities and Stockholders' Deficit

Current liabilities
  Accounts payable and accrued expenses (Note 4)                            $ 1,569,780   $   611,416
  Deferred revenue (Note 2)                                                     847,740       227,800
  Current portion of notes payable (Note 6)                                     188,545        42,733
  Current portion of capital lease obligation (Note 9)                            7,280         7,520
  Performance unit plan accrual (Note 8)                                      2,058,052     1,700,000
  Stockholder loans (Note 5)                                                    535,689       154,776
                                                                            -----------   -----------

      Total current liabilities                                               5,207,086     2,744,245

Notes payable, less current portion (Note 6)                                      8,870        48,271
Capital lease obligation, less current portion (Note 9)                          17,257         1,988
                                                                            -----------   -----------

      Total liabilities                                                       5,233,213     2,794,504
                                                                            -----------   -----------

Commitments and contingencies (Note 9)

Stockholders' deficit
  Common stock, no par value, 1,000 shares authorized;
    100 shares issued and outstanding at December 31,
    1998 and 1997                                                                65,500        65,500
  Additional paid-in capital                                                      1,079         2,284
  Accumulated deficit                                                        (3,982,595)   (2,173,234)
                                                                            -----------   -----------

      Total stockholders' deficit                                            (3,916,016)   (2,105,450)
                                                                            -----------   -----------

      Total liabilities and stockholders' deficit                           $ 1,317,197   $   689,054
                                                                            ===========   ===========
</TABLE>

  The accompanying notes are an integral part of these financial statements.

                                      -2-
<PAGE>

HedgeWare, Inc.
Statement of Operations
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                      Year Ended
                                                      December 31,
                                                   1998          1997
<S>                                           <C>            <C>
Revenues (Note 2):
  Software licenses                           $    399,473   $     41,990
  Service and maintenance                        3,781,057      3,335,457
                                              ------------   ------------

                                                 4,180,530      3,377,447
                                              ------------   ------------

Cost of revenues and operating expenses:
  Cost of software licenses                         14,740          9,257
  Cost of service and maintenance                2,997,667      1,996,045
  Sales and marketing                              106,365        407,224
  Product development                            1,954,128      1,751,750
  General and administrative                       854,774        462,032
                                              ------------   ------------

                                                 5,927,674      4,626,308
                                              ------------   ------------

Loss from operations                            (1,747,144)    (1,248,861)

Interest expense                                   (21,163)       (11,848)
Interest expense - stockholders                    (54,794)       (29,863)
Other income                                        13,740        28,526
                                              ------------   ------------

Net loss                                      $ (1,809,361)  $ (1,262,046)
                                              ============   ============
</TABLE>

  The accompanying notes are an integral part of these financial statements.

                                      -3-

<PAGE>

HedgeWare, Inc.
Statement of Changes in Stockholders' Deficit
-----------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                               Additional
                                        Common Stock            Paid-In         Retained
                                     Shares        Amount       Capital         Deficit              Total
<S>                                  <C>          <C>          <C>            <C>               <C>
Balance at January 1, 1997             100        $ 65,500     $ 24,286       $  (911,188)      $  (821,402)

Dividend distributions                   -               -      (22,002)                -           (22,002)

Net loss                                 -               -            -        (1,262,046)       (1,262,046)
                                     -----        --------     --------       -----------       -----------

Balance at December 31, 1997           100          65,500        2,284        (2,173,234)       (2,105,450)

Dividend distributions                   -               -       (1,205)                -            (1,205)

Net loss                                 -               -            -        (1,809,361)       (1,809,361)
                                     -----        --------     --------       -----------       -----------

Balance at December 31, 1998           100        $ 65,500     $  1,079       $(3,982,595)      $(3,916,016)
                                     =====        ========     ========       ===========       ===========
</TABLE>


  The accompanying notes are an integral part of these financial statements.

                                      -4-
<PAGE>

HedgeWare, Inc.
Statement of Cash Flows
Increase (Decrease) in Cash and Cash Equivalents
-------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                   Year Ended
                                                                                   December 31,
                                                                            1998                  1997
<S>                                                                    <C>                 <C>
Cash flows from operating activities
  Net loss                                                             $  (1,809,361)      $  (1,262,046)
  Adjustments to reconcile net loss to net cash used in
    operating activities:
      Depreciation and amortization                                           96,143              85,351
      Provision for doubtful accounts                                        125,783              14,217
      Changes in operating assets and liabilities:
        Accounts receivable                                                 (581,624)           (102,030)
        Prepaid expenses and other current assets                             (4,753)              6,954
        Accounts payable and accrued expenses                                957,159             115,879
        Deferred revenue                                                     619,940             107,800
        Performance unit plan accrual                                        358,052           1,033,333
                                                                       -------------       -------------

Net cash used in operating activities                                       (238,661)               (542)
                                                                       -------------       -------------

Cash flows from investing activities
   Purchase of fixed assets                                                 (126,700)            (92,015)
                                                                       -------------       -------------

Cash flows from financing activities
   Proceeds from stockholder loans                                           387,913             100,000
   Repayment of stockholder loans                                             (7,000)             (1,100)
   Proceeds from notes payable                                               285,000             265,000
   Repayment of notes payable                                               (178,589)           (350,483)
   Payments on capital lease obligations                                      (8,771)             (6,875)
                                                                       -------------       -------------

Net cash provided by financing activities                                    478,553               6,542
                                                                       -------------       -------------

Net increase (decrease) in cash and cash equivalents                         113,192             (86,015)
Cash and cash equivalents, beginning of year                                  24,649             110,664
                                                                       -------------       -------------

Cash and cash equivalents, end of year                                 $     137,841       $      24,649
                                                                       =============       =============

Supplemental disclosures of cash flows
   Interest paid                                                       $      24,551       $      11,848
                                                                       =============       =============

Noncash investing and financing activities
</TABLE>

   During 1998, the Company entered into capital lease obligations to purchase
     fixed assets in the amount of $23,800. No capital lease obligations were
     entered into during the year ended 1997.

   During 1998 and 1997, the Company declared S-corporation distributions in the
     amount of $1,205 and $22,002 to stockholders, respectively. These
     distributions are included in accounts payable and accrued expenses on the
     balance sheet and have not been paid as of December 31, 1998.

  The accompanying notes are an integral part of these financial statements.

                                      -5-


<PAGE>

HedgeWare, Inc.
Notes to Financial Statements
--------------------------------------------------------------------------------

1. Nature of the Business

   HedgeWare, Inc. ("HedgeWare" or the "Company") was incorporated in Delaware
   in 1988 as an "S" corporation. HedgeWare provides portfolio, financial
   partnership, and tax accounting software to hedge fund managers and traders
   throughout the United States.  HedgeWare develops and markets software used
   by active hedge fund managers to track and calculate their positions in
   numerous instrument types.  HedgeWare products provide registered investment
   advisors with a complete set of tools for enterprise-wide portfolio
   management, accounting, research, and operational support.

2. Summary of Significant Accounting Policies

   Cash Equivalents
   The Company considers all highly liquid investments with original maturities
   of three months or less from the date of acquisition to be cash equivalents.
   The Company invests its excess cash in an overnight money market account.
   Accordingly, the investments are subject to minimal credit and market risk.
   At December 31, 1998 and 1997, the Company had $3,156 and $5,766,
   respectively, in a money market account.

   Revenue Recognition and Deferred Revenue
   The revenue recognition policies for the period are presented in conformity
   with AICPA Statement of Position 97-2, "Software Revenue Recognition" ("SoP
   97-2").  Under SoP 97-2, the Company recognizes software license revenue
   when a noncancelable license agreement has been executed, fees are fixed and
   determinable, the software has been delivered, accepted by the customer if
   acceptance is required by the contract and other than perfunctory, and
   collection is considered probable.  Revenue is derived from the sale of
   software licenses and from the performance of maintenance, installation,
   training and programming services.  License revenue is recognized when the
   software is delivered unless there is uncertainty about customer acceptance,
   in which case, the Company delays recognition of revenue until acceptance
   occurs.  Revenue from services is recognized as the services are performed.
   Maintenance revenues are recognized ratably over the maintenance period,
   generally one year.  Revenue is deferred to the extent of cash received in
   advance of delivery or performance of services. The Company had a provision
   for doubtful accounts of $142,143 and $16,360 at December 31, 1998 and 1997,
   respectively.

   Fixed Assets
   Fixed assets are stated at cost and depreciated using the straight-line
   method over the estimated useful lives of the assets. Assets held under
   capital leases are amortized over the shorter of the lease life or the
   estimated useful life of the assets. Maintenance and repair costs are
   expensed as incurred.

   Research and Development and Capitalized Software Development Costs
   In accordance with Statement of Financial Accounting Standards No. 86,
   "Accounting for the Costs of Computer Software to be Sold, Leased or
   Otherwise Marketed," the Company has evaluated the establishment of
   technological feasibility of its products under development. The time period
   during which costs could be capitalized from the point of reaching
   technological feasibility until the time of general product release is short
   and, consequently, the amounts that could be capitalized are not material to
   the Company's financial position or results of operations.  Therefore, the
   Company charges all product development expenses to operations in the period
   incurred.

                                      -6-
<PAGE>

HedgeWare, Inc.
Notes to Financial Statements
--------------------------------------------------------------------------------

   Concentration of Credit Risk and Significant Customers
   Financial instruments which potentially expose the Company to concentration
   of credit risk consist primarily of trade accounts receivable.  The Company
   grants credit terms in the normal course of business to its customers.  At
   December 31, 1998, two of the Company's customers accounted for approximately
   11% and 14% of the Company's accounts receivable.  At December 31, 1997, two
   of the Company's customers accounted for approximately, 12% and 14% of the
   Company's accounts receivable.

   Financial Instruments
   The carrying amounts of the Company's financial instruments, which include
   cash, accounts receivable, accounts payable and accrued expenses, notes
   payable and stockholder loans, approximate their fair market values at
   December 31, 1998.

   Income Taxes
   Beginning in 1988, Hedgeware elected and has since been treated for federal
   and certain state income tax purposes as an "S" corporation under Subchapter
   S of The Internal Revenue Code of 1986, as amended.  Therefore, no provision
   for federal income taxes is made in the financial statements.  The income tax
   effect of the Company's activities accrue to the individual stockholders.

   Comprehensive Income
   The Company has adopted Statement of Financial Accounting Standards No. 130
   ("SFAS 130"), "Reporting Comprehensive Income." SFAS 130 requires that items
   defined as comprehensive income, such as foreign currency translation
   adjustments and unrealized gains (losses) on marketable securities, be
   separately classified in the financial statements and that the accumulated
   balance of other comprehensive income be reported separately from accumulated
   deficit and additional paid-in capital in the equity section of the balance
   sheet. There were no differences between net income and comprehensive income
   for the year ended December 31, 1998 and 1997.

   Use of Estimates
   The preparation of the Company's financial statements in conformity with
   generally accepted accounting principles requires management to make certain
   estimates and assumptions that affect the reported amounts of assets and
   liabilities and disclosures of contingent assets and liabilities at the date
   of the financial statements and the reported amounts of revenues and expenses
   during the reporting period.  Actual results could differ from these
   estimates.

                                      -7-
<PAGE>

HedgeWare, Inc.
Notes to Financial Statements
-----------------------------------------------------------------------------

3.   Fixed Assets

     Fixed assets consist of the following:

<TABLE>
<CAPTION>
                                                                                          Estimated
                                                                  December 31            useful life
                                                             1998            1997        (in years)
                                                         ------------     ----------   --------------
          <S>                                            <C>              <C>          <C>
          Leasehold improvements                         $   19,663       $  19,663          5
          Office equipment                                  151,028         121,322          7
          Hardware and software                             654,310         533,516          5
                                                         ----------       ---------

                                                            825,001         674,501
          Accumulated depreciation and amortization        (530,917)       (435,907)
                                                         ----------       ---------

                                                         $  294,084       $ 238,594
                                                         ==========       =========
</TABLE>



     Depreciation expense for the years ended December 31, 1998 and 1997 was
     $95,010 and $84,409, respectively.

     Included in the above amounts are office equipment acquired under capital
     leases as of December 31, 1998 and 1997 of $56,200 and $32,400,
     respectively. Accumulated amortization on assets under capital leases
     totaled $32,267 and $24,300 as of December 31, 1998 and 1997, respectively.

4.   Account Payable And Accrued Expenses

     Accounts payable and accrued expenses consist of the following:

<TABLE>
<CAPTION>
                                                             December 31,
                                                        1998             1997
                                                    ------------       ----------
          <S>                                       <C>                <C>
          Accounts payable                          $   217,485        $  47,698
          Accrued employee compensation                 712,803          260,991
          Other accrued expenses                        639,492          302,727
                                                    -----------        ---------

                                                    $ 1,569,780        $ 611,416
                                                    ===========        =========
</TABLE>


5.   Stockholder Loans

     At December 31, 1998 and 1997, the Company had $535,689 and $154,776 of
     stockholders loans outstanding. The loans bear interest at a rate of 9.5%
     per annum and are payable on demand. During 1998 and 1997, the Company
     incurred $54,794 and $29,863 of interest expense, of which $84,657 and
     $29,863 was payable at December 31, 1998 and 1997, respectively, and are
     included in accounts payable and accrued expenses on the financial
     statements. These loans and accrued interest were settled in March 1999 in
     connection with the merger (Note 10).

                                      -8-
<PAGE>

HedgeWare, Inc.
Notes to Financial Statements
-----------------------------------------------------------------------------

6.   Notes Payable

     During 1998, the Company entered into an agreement with a bank to provide a
     $150,000 revolving credit facility (the "Agreement"). At December 31, 1998,
     the Company had outstanding borrowings of $150,000 under the Agreement
     which were repaid in March 1999 in connection with the merger (Note 10).
     Interest accrues at a rate of 8.75% per annum. This obligation is
     collateralized by all assets of the Company.

     During 1997, the Company entered into a $50,000 note payable with a bank.
     At December 31, 1998 and 1997, the outstanding obligation was $26,516 and
     $42,572, respectively, and was paid off in March 1999 in connection with
     the merger. The note accrued interest at a rate of 9.0% per annum. This
     obligation was collateralized by all the personal property of the Company.

     During 1996, the Company entered into a $75,000 note payable with a bank.
     At December 31, 1998 and 1997, the outstanding obligation was $20,899 and
     $48,432, respectively, and was paid off in March 1999. The note accrued
     interest at a rate of 9.75% per annum. This obligation was collateralized
     by all the personal property of the Company.

     Interest expense related to the above bank debt totaled $23,475 and $10,652
     for the years ended December 31, 1998 and 1997, respectively.

7.   Common Stock

     Each share of common stock entitles the holder to one vote on all matters
     submitted to a vote of the Company's stockholders. Common stockholders are
     entitled to receive dividends, if any, as may be declared by the board of
     directors.

8.   Performance Unit Plan

     The Company has established a Performance Unit Plan (the "Plan") which
     consists of granting of performance units to certain key employees of the
     Company. The Plan is administered by the board of directors, who determine
     which employees will receive the performance units and the number of
     performance units to be granted to the employees. The ultimate value of
     these performance units is contingent upon the fair value of the Company.
     The increase in the value of these units is accrued and expensed over the
     vesting period. The Plan has authorized 20,000 units, not to exceed 20% of
     the value of the Company. The units generally vest equally over a three-
     year period and no payments under the Plan shall be made until the employee
     has been employed by the Company for three years. Upon a change in control,
     unit holders in the Plan will receive 20% of the consideration that is
     received by the stockholders. During 1998 and 1997, the Company awarded
     6,000 and 16,370 units, respectively, and recorded $358,052 and $1,033,333,
     respectively, in related compensation expense. At December 31, 1998 and
     1997, the Company has accrued $2,058,052 and $1,700,000 as the estimated
     obligations payable under the Plan. As a result of the merger described in
     Note 10, the Performance Unit Plan holders received 20% of the
     consideration.

                                      -9-
<PAGE>

Hedgeware, Inc.
Notes to Financial Statements
-----------------------------------------------------------------------------

9.   Commitments and Contingencies

     The Company leases office space under a non cancelable operating lease for
     which the Company has a remaining commitment in 1999 totaling $116,406. The
     Company has entered into capital leases for equipment having remaining
     terms in excess of one year. The Company's future minimum lease commitments
     under these capital leases are as follows:

<TABLE>
<CAPTION>
                                                             Capital
                                                             leases
       <S>                                                  <C>
       1999                                                 $ 9,125
       2000                                                   7,107
       2001                                                   7,107
       2002                                                   5,330
                                                            -------

       Total                                                 28,669

       Less-Amount representing interest                      4,132
                                                            -------

       Present value of future minimum lease payments       $24,537
                                                            =======
</TABLE>

10.  Subsequent Event

     During the first quarter of 1999, Asset Management Acquisition Corp., a
wholly owned subsidiary of SS&C Technologies, Inc. ("SS&C") merged with and into
the Company, whereupon the Company became a wholly owned subsidiary of SS&C. In
connection with the merger, the Company exchanged all of its outstanding common
stock in exchange for shares of SS&C common stock.

                                      -10-