Top 5 Independent Brokerage Firm Maximizes Investment in Cost Basis Reporting with Scivantage Maxit® RDS

CS_Max_RDSShortly 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 and compliance to IRS regulatory requirements, resulting in significant back-office efficiencies for the financial services giant.

The firm has since implemented Maxit RDS, a fully supported, replicated data warehouse, to further maximize its investment by gaining faster access to its data. Eliminating the multiple data sources, RDS permitted automatic reconciliation of the company’s databases, speeded up the delivery of data and minimized redundancies for significant time and cost savings.

 

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