Scivantage Maxit®

Automated Cost Basis, Tax Management and Portfolio Reporting Solution

Automated Cost Basis, Tax Management and Portfolio Reporting Solution

Scivantage Maxit® is the industry's most highly automated cost basis solution offering invaluable services such as real-time processing, a variety of delivery methods including web services and direct database access, a powerful administrative suite and tax management tools. Through a highly configurable platform, Maxit enables broker-dealers, mutual funds, custodians and prime brokers to streamline tax and portfolio reporting and deliver a superior client experience, while reducing operational costs and meeting regulatory requirements.


Architecture design offers flexibility in processing and reprocessing
Reconciliation services ensure the lowest position break rates
Real-time Data Store offers unlimited access to real-time cost basis data
Expertise in delivering seamless cost basis reporting system conversions

 

Maxit Core Processing

Equities, Mutual Funds, ETFs, Options, Fixed Income, Custom | Corporate Actions, including Voluntaries | Wash Sales | Tax Rules | Gain/Loss Reporting | Short/Long-term | Gift & Inheritance | CBRS Import/Export | Options Premiums & Assignments | Back Office Mapping/Sync | Multiple Back Office Support

Data Access ServicesReporting ServicesReconciliation Services

Data Access Services

  • Cost Basis Extracts
  • Tax Reporting
  • Maxit® RDS
  • Web Services

Reporting Services

  • On-Demand Reports Library:
    • Unrealized/Realized
    • Form 6781
    • Tax Lot Ledger
    • Audit Trail/ Report
  • Custom Reports

Reconciliation Services

  • Reconciliation Services
  • Corporate Actions Review/Validation/Sync
  • Detailed Reporting
  • Premium Recon Services


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Unmatched Cost Basis Expertise

Increased Operational Efficiency

Scivantage is the largest provider of cost basis reporting solutions in the industry. Our team of industry veterans includes subject matter experts not only in tax reporting, but also software development, ensuring a seamless conversion from your firms current cost basis reporting solution to Maxit.

Position Accuracy

Seamless, Consistent Cost Basis Reporting

Included in Maxit's core capabilities, reconciliation services ensure the lowest position break rates, reducing operational risk and heightening a firm's client experience. Leveraging our tight back office integration, we use the core quantities on positions ensuring the highest position accuracy.

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Core Processing Capabilities

Lower Cost of Ownership

Maxit's core processing is more inclusive than most, even incorporating corporate actions processing. Because of this robust core, higher accuracy is achieved even before reconciliation services are deployed. Scivantage's expertise in handling complex issues has resulted in superior 1099 timeliness and accuracy.




Client Experience

  • Cost basis data is valuable in many applications in addition to just tax reporting. Scivantage Maxit makes it easy to deliver accurate data, in a timely manner, to investor and advisor portals, trading platforms, statements, rebalancing and performance reporting – virtually any application where accurate data is needed.
  • You, as well as your clients, experience seamless and consistent cost basis reporting performance due to Maxit SLA's on key processes and technology functions.

Cost Savings

  • The total cost of ownership for maintaining and monitoring cost basis related data and reporting is considerably lower in the long-term using Maxit's automated solution.
  • With data reconciliation options included in Maxit's core, minimal firm resources are required to achieve high position accuracy. Additionally, firms requiring data management services that go above and beyond can leverage a wide range of premium reconciliation services designed to support particular operational and strategic needs.
  • While each firm is different, a typical Maxit relationship results in significant savings over alternative commercial or homegrown systems, potentially up to 50%.

Operational Efficiencies

  • Your firm's focus can remain on your core business while Maxit's automated system provides accurate, timely tax info, you spend fewer hours on the “tactical” and more hours on the “strategic” aspects of business growth.
  • Offering increased scalability and faster time-to market, you can maintain compliance and proactively offer competitive differentiators, with more speed and agility than your peers.
  • Maxit clients can leverage additional infrastructure, automation and resources to support substantial growth and volume spikes, as well as rapid deployment of new businesses and services.

Flexibility

Maxit's architecture is designed to offer flexibility in processing and reprocessing, as well as operation flexibility including several alternatives for deployment, options for data access and usage (tax reporting or other operational reports), web services for data flow, custom development capabilities, and more.

Scalability

Maxit’s robust processing system enables firms, whether early-stage or at the enterprise level, to achieve immediate operational scalability. As a flexible, turnkey solution, Maxit is built to accommodate growth across an array of demand parameters.

Integration

Maxit easily integrates with all major back office systems, as well as third-party or proprietary software systems to ensure seamless operational efficiencies for our clients. This deep integration allows Maxit to match the back office point by point in presentation of client data, ensuring a seamless, accurate cost basis view of account positions. Additionally, our web suite and data access capabilities provide the ability to integrate into primary client and advisor portals, as well as downstream systems.

Automation

Key to Maxit's core is state-of-the-art technology powering complex data management capabilities and the ability to respond to unique data challenges and volume requirements – all automated and in real time.

Position Accuracy

Included in Maxit's core capabilities, reconciliation services ensure the lowest position break rates, reducing operational risk and heightening a firm's client experience. Leveraging our tight back office integration, we use the core quantities on positions ensuring the highest position accuracy.

The Latest in Cloud-based Technology

Software-as-a-Service (SaaS) delivery model, built on Scivantage's secured cloud infrastructure for superior scalability, security and processing speed.

Trusted Partner

Currently supporting industry-leading financial institutions in wealth management, retail brokerage, prime brokerage, mutual funds and custody segments, Maxit is fully compliant in Phase I, Phase II and Phase III cost basis reporting requirements.

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