After quickly putting in place major system upgrades to meet new cost basis regulations several years back, many financial services firms have now realized that their solutions were not necessarily scalable to their enterprise or sufficiently flexible to adapt to the ongoing evolution of the requirements. Yet, even when dissatisfied with their existing systems, some firms have been hesitant to convert to a different reporting solution because of the potential risk of new system limitations, the significant investments made in their first system, or the perceived effort required to undertake such a conversion.
Scivantage makes it easy and cost-effective to deliver personalized, brokerage services to the range of mobile devices used by today’s investors, including iOS and Android devices. A feature rich, HTML5-based trading and investment account management platform, Investor Mobile links to your order routing and back office management systems, allowing clients to access up-to-the-minute account details, […]
Scivantage is an independent financial technology provider with proven expertise in online brokerage, tax and portfolio reporting, and wealth management applications that automate and integrate key business practices for broker-dealers, mutual funds, custodians and prime brokers. Scivantage’s back-office independent solutions enable institutions and financial professionals to dramatically reduce operational costs, strengthen customer relationships and improve […]
Watch our latest video featuring Scivantage Investor™, the next generation of online investment technology. Investor’s revolutionary user centered design and feature rich collection of tools is designed to help financial institutions take leadership position in online brokerage and deliver unified consistent client experience.
With compliance deadlines fast approaching, financial institutions are now looking toward new and innovative ways to get the most out of their cost basis reporting investment. From total cost of ownership initiatives to maximizing the value of data, cost basis reporting has financial institutions reevaluating their overall strategy to better balance operational, business and client […]
As cost basis reporting regulations inch towards their final phase, firms are now looking beyond compliance and searching for new and innovative ways to get the most out of their investment. From total cost of ownership initiatives to maximizing the value of the data, cost basis reporting has financial institutions reevaluating their overall strategy to […]
One of the provisions of the Emergency Economic Stabilization Bill of 2008 required financial intermediaries to report adjusted cost basis information to their clients and to the IRS. In response, financial services firms rushed to put in place major system upgrades in their cost basis reporting systems, only to find that the solutions they chose were not necessarily scalable […]
Shortly after cost basis reporting regulations were enacted, this top ranked broker-dealer implemented Scivantage’s Maxit® product to extend automated cost basis reporting across its thousands of financial advisors throughout the United States and abroad. As a robust enterprise-wide cost basis engine, Maxit provided the firm with access to fully automated cost basis data for account statements, investment inquiries […]
A high level of accuracy and regulatory expertise is fundamental to cost basis compliance. In order to support complex data management needs for precise and timely cost basis reporting, firms require increasingly advanced reconciliation services. With a wide range of reconciliation options, Scivantage Maxit® has further expanded its cost basis reporting offering to include data cleansing, management and synchronization services. […]
As the industry continues to evolve along with Cost Basis Reporting regulations, firms are asking, “How can I maximize my investment beyond simply meeting regulatory requirements?” The answer is in the data. Originally built for timely and accurate cost basis reporting, the robust Scivantage Maxit® database can now be utilized for increased data access and […]