Interactive Data and Scivantage Develop Web-Based Wealth Management Workstation
Interactive Data Corporation, a provider of market data solutions for wealth management firms, and Scivantage, an independent financial technology provider, will launch an enterprise web-based workstation for wealth management professionals later this year, the companies announced today.
The workstation will deliver market data and tools available through Market-Q, Interactive Data's browser-based real-time market data solution, along with Scivantage's account and advisor book management, order entry and transaction processing capabilities. The workstation will allow financial advisors to access market data and research, decision support tools and trading capabilities, as well as automate critical functions such as portfolio rebalancing, cost basis reporting and trade processing, according to the vendors.
Market-Q enables advisors and their clients to access market data and tools within a single easy-to-use web application. As part of the new arrangement, Market-Q will leverage Scivantage's advisor productivity tools and transaction processing capabilities to deliver the wealth management solution. The offering is available over the web and on mobile-based delivery options.
"Combining Market-Q's customized market data and tools with client, account and transactional level data from major back office clearing providers through Scivantage extends our real-time streaming market data desktop into a comprehensive wealth management platform," said Bill Chambers, vice president and general manager for Interactive Data's Managed Solutions business in the U.S. in a press release. "This platform will offer financial advisors a new technology choice, providing more efficient workflows to help advisors focus on servicing clients."
"We are very pleased to partner with Interactive Data to extend the capabilities of the Market-Q platform," said Joe Stensland, Executive Vice President, Product and Delivery Management, Scivantage in a prepared statement. "With no software programs to install or update, the system gives an advisor a versatile, powerful solution – all on a fully hosted and secure web platform."
Interactive Data and Scivantage anticipate launching the full integrated workstation later this year. Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio