Scottrade Advisor Services, a provider of custodial and institutional trading services for independent investment advisors, recently announced it selected Scivantage to provide technology tools for its next-generation advisor desktop platform.

Based in Jersey City, N.J., Scivantage serves the financial services industry with products ranging from trade processing and event notification management to portfolio reporting and automated accounts management. Scottrade's advisory platform will use the Scivantage Professional application suite that enables advisors to open and maintain brokerage accounts, make trade orders and manage client accounts from a single interface. Advisors using this system will also have access to Scivantage Maxit, an automated cost basis and portfolio tax reporting system designed to help clients track capital gains, generate Schedule D for tax filing and improve investment tax decisions.

Scottrade Advisor Services is a division of Scottrade, Inc., a St. Louis-based online discount brokerage firm.