Scivantage Reaches New Heights in 2013

New Strategic Partnership, Key Acquisition, Client Wins, Product Launches, and Notable Achievements Contribute to Historical Year for the Firm

As a result of our clients’ support and teams’ efforts, 2013 was a historical year for Scivantage. From strategic partnerships and acquisitions to new product innovations, all contributing to the numerous accolades Scivantage has been awarded with this year, notably a debut on the FinTech 100 as a top financial services technology provider, we have built considerable momentum to jumpstart 2014.

Acquisitions and strategic partnerships have enabled our firm to expand our reach significantly this year. We established an alliance with Broadridge Financial Solutions to provide our Scivantage Maxit cost basis solutions to its clients, expanding our footprint as the cost basis market leader. With our continued focus on our client experience, several Broadridge associates joined the Scivantage team as part of the partnership, ensuring a smooth conversion and seamless support for Broadridge clients. In addition to our Broadridge partnership, we’ve also completed the acquisition of Portfolio Director, from Scottrade Financial Services, Inc., in September. This deal enables us to further expand our depth of product offerings by delivering intelligent and actionable information to investment advisors and retail investors.

We continue to work with our internal teams to update and enhance our innovative technology. In 2013, we introduced new products to the marketplace, Maxit RDS and Investor Mobile. Through Maxit RDS, a premium add-on service available as part of Maxit Data Delivery Services, tax lot data is accurately updated and dynamically reconciled, granting clients direct access to the information they need to power internal and external services, such as client reporting, statements, management dashboards, reference and other operational processes. We also extended the Maxit® tax lot accounting system, to include fixed income and options capabilities for Phase III cost basis reporting compliance. Additionally, Investor Mobile, which leverages the latest HTML5 mobile development technology, extends Scivantage’s mobile brokerage capabilities and provides a robust set of features for investors to manage their portfolios, access financial research and execute trades.

As a result of these efforts, Scivantage has reached many monumental achievements from an internal standpoint and has also gained significant, industry-wide recognition:

  • – Adnane Charchour, our Founder and Chief Executive Officer, received the CEO of the Year award, in the “Private Sector” category, from the New Jersey Technology Council (NJTC).
  • – James Kaminski, Senior Vice President and Chief Financial Officer, was named CFO of the Year by NJBIZ, New Jersey’s weekly business journal, in the “Private Company with Revenues of up to $50 Million” category.
  • – Scivantage was named to the 2013 Inc. 5000 list of fastest-growing privately held companies in the U.S., a listing in which the firm has consistently appeared since 2006. This year, among the top software firms, we came in at 339.
  • – For the first time in our history, Scivantage was named to the FinTech 100, a compilation of the world’s top financial services technology providers, coming in at number 97.
  • – For the second consecutive year, Scivantage was a finalist in the Wall Street Letter Institutional Trading Awards in the “Best Trading Platform Client Service” category.
  • – Scivantage Maxit® clients had a 100% success rate in getting their 2012 IRS Form 1099s, marking the second consecutive year of 100% on-time delivery.

As we come to the end of a very successful year for Scivantage, our strategy and focus for 2014 will be a renewed commitment in providing disruptive technology solutions to our financial services industry clients and delivering superior products and services in support of their business needs. We could not have achieved these accomplishments without the support of our clients and industry partners and as we close the page on 2013, all of us at Scivantage would like to thank you and wish you a safe and happy holiday season.

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