Scivantage, a provider of technology solutions to wealth management and online brokerage firms, has acquired Portfolio Director, a supplier of investment management technology products, from Scottrade Financial Services.
Scivantage said that the acquisition adds to its core expertise of providing brokerages, banks and mutual funds with automated solutions and enhances its performance reporting capabilities for both investment advisors and individual retail investors.
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Among the chief benefits of utilizing the Portfolio Director products is that advisors and investors can track their portfolios, and have the ability to use an assortment of benchmarks to compare their portfolios against various indices, including Standard & Poor’s, the Dow Jones Industrial Average and the NASDAQ Composite Index, among others.
Portfolio Director brings to Scivantage two primary product suites with enhanced performance reporting capabilities: Portfolio Director WEB and Portfolio Director DESKTOP.
Portfolio Director WEB is designed for financial advisors and investors seeking a web-based service solution. Portfolio Director DESKTOP is a product for sophisticated small-shop financial advisors; an umbrella solution application which enables advisors to manage client investment data and produce professional-quality reports.
Steve Walkenbach, president of Malbec, a subsidiary of Scivantage, said: "We plan on making several product enhancements, including the ability to create customized reports that can be delivered in a compelling, user-friendly format, ultimately enabling customers to better manage their investments."
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By GlobalData"We see the acquisition of Portfolio Director as a natural progression of our offerings and an opportunity as a company to provide both the retail investor greater access and transparency around these accounts as well as help advisors provide better client service," added Walkenbach.
