Scottrade® Advisor Services To Offer Modeling and Rebalancing, Managed Portfolio Services

Custodian evolving service offering to meet the needs of advisors

"Advisors provide advice on a wide range of financial-related life issues," said Brian A. Davis, senior vice president and head of Scottrade(R) Advisor Services. "We as a custodian are evolving with their needs and providing the tools needed to grow their businesses. MyVest's services, which will be integrated into our platform, will be an important addition to our offering." (Photo: Business Wire)

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ST. LOUIS--()--Scottrade® Advisor Services, a provider of custodial and institutional trading services for registered investment advisors (RIAs), has selected MyVest® Corporation to provide modeling and rebalancing and managed portfolio services. These services, based on MyVest’s Strategic Portfolio SystemTM, are planned to be launched later this year.

“Advisors provide advice on a wide range of financial-related life issues,” said Brian A. Davis, senior vice president and head of Scottrade® Advisor Services. “We as a custodian are evolving with their needs and providing the tools needed to grow their businesses. MyVest’s services, which will be integrated into our platform, will be an important addition to our offering.”

The Strategic Portfolio System (SPS) enables financial advisors to offer their clients a powerful set of sophisticated investment capabilities delivered in a highly automated manner. The system also enables advisors to offer their clients holistic asset management by looking at all of a household’s accounts, including investment, retirement, education, business and trust accounts.

As an RIA’s level of client service expands, an increased level of planning and transparency into a client’s full financial picture is required. SPS’ Unified Managed Household (UMH) approach provides capabilities for advisors to address the investment needs and objectives of multiple individuals within a household.

“This gives advisors an edge,” said Chuck Lewis, co-founder and vice chairman of MyVest. “The Strategic Portfolio System makes it easy for advisors to manage a client’s total holdings in a personalized, yet scalable manner. This can help increase the household’s potential total after-tax return and reduce consolidated risk. It also helps advisors win more and larger households.”

SPS takes inputs from multiple sources and combines them to produce an optimal household portfolio. These include:

  • a head of household, describing the family’s accounts, tax situation and risk tolerance;
  • an advisor, picking an appropriate portfolio strategy for the household’s assets and entering the family’s specific wants and needs;
  • an investment strategist, devising an asset allocation;
  • multiple money managers, each picking securities within their field of expertise; and,
  • the firm, setting rules and parameters for compliance.

Scottrade® Advisor Services is working with MyVest to integrate these services into its platform. Each service will be announced as it is released for use by advisors using Scottrade’s custodian services.

About MyVest®

MyVest is a leading innovator in the automation of portfolio management best practices. MyVest’s Strategic Portfolio SystemTM (SPS) automates the preparation of client proposals, model-based portfolio construction, drift monitoring and optimization, consolidated household management, proactive tax reduction, performance reporting and billing – while enforcing suitability, consistency and compliance. SPS makes it possible for RIAs to scale their practice and win significant new assets under management (AUM) by automating superior wealth management for large and small clients alike. For more information, visit www.myvest.com.

About Scottrade® Advisor Services

Scottrade® Advisor Services is a business unit of Scottrade, Inc., dedicated to supporting the needs of independent registered investment advisors. Scottrade® Advisors Services’ low commissions coupled with personalized customer service through dedicated relationship teams, makes Scottrade® Advisor Services an exceptional value for more than 1,100 current advisors to help grow their practice. With no advisor enrollment fee, Scottrade® Advisor Services has the account management tools for advisor practices of any size. For more information, visit https://advisor.scottrade.com.

About Scottrade, Inc.

Investors who enjoy online stock trading will find value and personalized customer service at online investing firm Scottrade, Inc. Founded in 1980, Scottrade enables clients to learn about online trading tools, stock market research and how to buy stocks online, many at just $7 per trade. With more than 500 nationwide branch offices, Scottrade has the largest branch network among online brokerage firms. To learn more about one of FORTUNE® magazine’s “100 Best Companies to Work For,” visit about.scottrade.com or www.scottrade.com and follow us on Facebook, Twitter, YouTube and Flickr. Member FINRA/SIPC.

Scottrade® and the Scottrade® logo are the registered trademarks of Scottrade, Inc. MyVest® is a registered trademark of MyVest Corporation.

Contacts

Scottrade
Whitney Ellis, 314-965-1555 ext. 1089
wellis@scottrade.com

Release Summary

Scottrade® Advisor Services selects MyVest® to power modeling and rebalancing, and provide managed portfolio services

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Contacts

Scottrade
Whitney Ellis, 314-965-1555 ext. 1089
wellis@scottrade.com