Scivantage acquires Portfolio Director from Scottrade

Jersey City-based financial services technology company Scivantage announced Monday it has acquired investment technology supplier Portfolio Director from Scottrade Financial Services Inc. Financial terms were not disclosed.

According to the announcement, the acquisition enables the company to enhance its performance reporting capabilities for both investment advisers and individual retail investors. Portfolio Director brings to Scivantage two primary product suites with enhanced performance reporting capabilities: Portfolio Director Web, designed for financial advisers and investors seeking Web-based service solutions, and Portfolio Director Desktop, a product for sophisticated small-shop financial advisers that enables advisers to manage client investment data and produce professional-quality reports.