A premium add-on service available as part of Maxit Data Delivery Services, RDS is a fully supported, replicated data warehouse that is designed to reduce manual processes and to eliminate the need for ongoing reconciliation between the Maxit database and internal client systems.
"Tax lot data in RDS accurately updates and reconciles dynamically, allowing 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," the company said in its statement.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
With RDS, Maxit clients can now have direct access to their database, which expands their ability to independently use the tax lot data as needed to support internal goals and objectives.
Scivantage vice president, Job Dennison, said: "Cost basis data is really quite powerful. It is the most granular transactional information available and, when used properly, it provides the foundation for significant improvements in the client experience."
"Maxit RDS refines cost basis data in real-time and puts it in an easy-to-use, easy-to-access format that can be tapped by a firm’s downstream systems and applications.
"We’re now starting to move beyond compliance and are seeing the value cost basis can add for retail investors and professional advisors," Dennison said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
