Archive for February, 2011

USA Today – Cost Basis Reporting: Investor Guidance

Friday, February 18th, 2011

USA Today – Cost Basis Reporting: Investor Guidance

A recent article in USA Today touches on a timely and important topic – cost basis reporting. Author Matt Krantz spoke with Scivantage’s Cameron Routh about the motivation behind the new rules and how investors will be affected.

“It’s critical for investors, even those who aren’t active traders, to understand the new cost basis rules this year so they don’t have any ugly surprises when taxes are due in 2012 and beyond.”

Read the full article by Matt here.

State of the Mobile Investor

Thursday, February 17th, 2011

A recent article in Financial Planning discussed the growing demand for mobile offerings from investment firms, based on a study done by Forrester Research. Although only 11% of investors use mobile channels right now, the industry is evolving rapidly, according to the piece:

“But the times they are a changing and sooner or later virtually all investment firms are simply going to have to adjust to the culture and technology with which its next generation of clients are most comfortable and familiar.”

Read the full article by Larry Barrett here.

Securities Technology Monitor: Fund Firms Face Costs of Cost-Basis Reporting

Tuesday, February 15th, 2011

Securities Technology Monitor: Fund Firms Face Costs of Cost-Basis ReportingCameron Routh talks about the issues mutual funds have to address in cost basis reporting in a recent Securities Technology Monitor article.

“Mutual fund platforms were coded to provide only average cost accounting and now they will have to adjust to a variety of cost-basis methodologies,” says Cameron Routh, senior vice president of strategic products at Scivantage, a technology provider in Jersey City, NJ. “They must also be able to segregate between eligible and non-eligible accounts under the new regulations as well as covered and non-covered activity within the eligible accounts.”

To read the full article, click here.

Scivantage Voted One of the Hottest New York City Companies by Lead411

Tuesday, February 15th, 2011

Lead411 recognizes the fastest growing technology companies in New York City

Scivantage has been recognized by Lead411 as one of the ‘Hottest Companies in New York City” for 2011.  Scivantage was one of 66 fast-moving companies to be recognized on this year’s list.

Lead411′s “Hot List” awards have been created to recognize fast growing companies. This particular list originally started with over 1000 companies and was narrowed down to the top 66.  To qualify, all companies must by in either the Software, Wireless, Hardware, Internet, or Media industry, have less than $150M in yearly revenues, and be within New York City. From there, each company must meet one or more of the following requirements; 150% increase in revenues over the past 2 years with revenues over $2M OR $9M+ in funding in the past 2 years.

To learn more about the award and to view the full list of 2011 award winners, click here.

To read the press announcement, click here.

Money Management Executive Magazine: The Costs of Cost-Basis Reporting

Thursday, February 10th, 2011

In this recent Money Management Executive article, Cameron Routh, Senior Vice President of Strategic Products for Scivantage, offers his insight on the technology challenges and potential costs awaiting mutual fund companies that are not adequately preparing for the cost basis reporting requirements.     

Money Management Executive: The Costs of Cost-Basis Reporting

By Chris Kentouris

02/07/2011

The ability to make choices is the pillar of a free market economy. But when it comes to the Internal Revenue Services’ new tax reporting requirements, choices will mean plenty of additional operational and technological headaches for mutual fund companies over the next year.

To read the complete article, click here.


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