Data Access Services
Tax Management Tool Suite
Maxit® Core Processing
Looking to expand the use of your data?
Maxit RDS provides unlimited access to real-time cost basis data. RDS is your Tax Lot Master Repository, replicated, optimized and formatted specifically for data usability, reference and reporting. This service allows firms to use their tax lot data for a multitude of internal downstream functions, including client reporting, management dashboards, statements and more.
To learn more about Maxit RDS download our Factsheet here.
Have data issues that affect your cost basis accuracy?
Core reconciliation support is standard with all Maxit installations. Premium Reconciliation Services are uniquely defined based on a client's particular need and can include CBRS exceptions, custom data cleansing, augmentation services, and enhanced daily operations reporting and support.
To learn more about Premium Recon Services download our Factsheet here.
Looking for options to manage your cost basis data?
Maxit's core offering includes web pages for viewing cost basis information including Client and Advisor Portal Screens, and the Admin Suite of control screens for managing the Maxit System. An additional option is the Web Services Suite providing access to core cost basis data for streamlined use in proprietary or third-party applications.
Need a different view of your data?
Maxit offers a variety of on-demand reports to meet the most frequent client-reporting needs. Because individual businesses have unique operational needs, Custom Report capabilities are available to aid in streamlining operational processes on a client-by-client basis.
Are your clients demanding value-adds?
Maxit's premium tax management tool suite is designed to help investors minimize tax losses and increase after-tax performance. Tax Management Tools can be deployed in an online portal or integrated into an advisor desktop system.
Concerned about your support?
Maxit provides standard and premium support services to ensure your firm's optimal use of the service which includes 24x7 technical and operations support, SLAs for availability as well as data processing.
Since cost basis regulations were enacted in 2008, the financial industry has been hastening to implement cost basis reporting technology in order to comply with government requirements. Faced with one of the industry's biggest operational challenges and continued uncertainty around the regulations, financial institutions have been forced to enhance existing systems or select a solution provider without a complete view of the resource and technology commitments that would be required over the long-term. Now, after having spent countless dollars to achieve cost basis reporting compliance, the question at hand is, “what's next”? How can firms minimize costs, while also leveraging their new systems beyond compliance? Let Scivantage Maxit® turn tax compliance into a competitive advantage and strategic strength.
Scivantage Maxit® is the industry's most highly automated cost basis solution offering invaluable services not found in other systems, 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. Offering support to investors and advisors alike, Maxit even helps decision makers minimize tax liabilities and increase after-tax performance.
For years, used as a tool for delivering accurate 1099s consistently and on time, Maxit's back-office-agnostic technology has proven its worth to the industry. Now, Scivantage has brought Maxit to the next level, incorporating new functionality to support operational efficiencies for your firm.
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 our innovative products represent the best solution for both business and technology.Core Processing Capabilities
Maxit's core processing is more inclusive than most, even incorporating corporate actions processing. (See graphic for complete core details) Because of this robust core, higher accuracy is achieved even before reconciliation services are deployed. Scivantage's expertise in handing complex issues has resulted in superior 1099 timeliness and accuracy.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.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.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.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..