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February 13, 2014updated 04 Apr 2017 2:30pm

Scottrade Advisor Services launches new technology to power RIAs

Scottrade Advisor Services has announced its new custodial platform, which is set to dramatically reduce the time registered investment advisors (RIAs) spend online managing accounts so they can spend more time serving their clients.

By Verdict Staff

Scottrade Advisor Services has announced its new custodial platform, which is set to dramatically reduce the time registered investment advisors (RIAs) spend online managing accounts so they can spend more time serving their clients.

Brian A. Davis, senior vice president at Scottrade and head of Scottrade Advisor Services, said: "As a core business partner to advisors, our focus is to provide the tools and support they need to grow their independent practices."

The custodial and institutional trading services business unit was founded in 2005 and now serves more than 1,250 RIAs.

Davis added: "Seeking direct advisor feedback from the start helped us build a platform that is flexible and easy to use, saving advisors time on numerous backend processes."

The intuitive trading and account management platform at advisor.scottrade.com has:

  • Enhanced, award-winning multi-block trading capabilities with real-time allocation
  • Faster and easier navigation for save orders
  • A customizable home page
  • Easier ability to create alerts to identify accounts requiring attention
  • Client statements that are easily downloadable
  • Quick views of client and business information
  • Integration of Redtail Technology CRM, MoneyGuideProTM, and other technologies for financial planners and advisors to manage their businesses

The new multi-block trading and enhanced mutual funds order management features included in the platform earned Scottrade, Inc. a spot on the 2013 InformationWeek 500. Most of the infrastructure behind the new platform was built using that same technology.

Scottrade Advisor Services’ project team spent a great deal of time meeting with advisors throughout the country to learn more about what they want in a platform. The project team worked with advisors throughout the layout of the site, from design to functionality, in order to provide an intuitive experience.

Cory Haberkorn, assistant vice president of Programs and Product Strategy for Scottrade Advisor Services, said: "While in beta testing, the two words we wanted advisors to say when describing the site were ‘flexible’ and ‘intuitive,’ and those are the words they used. Time is the most precious thing advisors have, and this platform will provide advisors 50-plus-percent time savings on many daily tasks. From entering orders across multiple accounts to liquidating an entire account, some processes now take seconds to complete, saving advisors valuable time."

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