JERSEY CITY, N.J.--(BUSINESS WIRE)--Scivantage^®, an independent financial technology provider with proven expertise in online brokerage, tax and portfolio reporting and wealth management applications, announced today that it has acquired Portfolio Director, a leading supplier of investment management technology products, from Scottrade Financial Services, Inc.

“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”

The acquisition adds to Scivantage's core expertise of providing brokerages, banks and mutual funds with automated solutions to grow their business, and enables the company to enhance its performance reporting capabilities for both investment advisors and individual retail investors.

Portfolio Director brings to Scivantage two primary product suites with enhanced performance reporting capabilities: Portfolio Director WEB, designed for financial advisors and investors seeking a web-based service solution, and Portfolio Director DESKTOP, 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.

“Our customers remain our top priority. We are thrilled to be able to successfully deliver a solution that addresses one of their most common requests,” said Steve Walkenbach, President of Malbec, LLC, a subsidiary of Scivantage. “Investors have long sought both a meaningful way to measure their performance, and to have actionable tools for improving upon past performance. 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.”

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.

“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.

About Portfolio Director

Portfolio Director Inc. delivers investment management technology products to investment professionals and individual investors worldwide. Customers receive timely updates and enhancements and unlimited access to client support. Additional information can be found at www.portfoliodirector.com.

About Scivantage

Scivantage is an independent financial technology provider with proven expertise in online brokerage, tax and portfolio reporting, and wealth management applications that automate and integrate key business practices for broker-dealers, mutual funds, custodians and prime brokers. From trade order processing and account management to comprehensive cost basis reporting and automated account opening, maintenance and funding, Scivantage’s back-office independent solutions enable financial institutions and financial professionals to dramatically reduce operational costs, strengthen customer relationships and improve productivity. For more information, please visit www.scivantage.com or contact us at +1.866.724.8268.