Scivantage is launching new software called sqope that helps investors track the performance of their investments.

Sqope's social analytics feature shows users how investors who have similar wealth management portfolios are doing. Additionally, investors are given "what-if analysis and risk statistics" along with reallocation scenarios that can be implemented through Scivantage's order entry process.

Furthermore, the software has a SciQ Insights feature that provides data mining algorithms to supply an investor with possible trade ideas. It also offers a sqope score that measures how investors are doing within designated risk parameters.

"Given the uncertainty of today's markets, it's understandable that investors want increased transparency and a clear picture of their investment health," said Cameron Routh, executive vice president of corporate development for Scivantage, in a Monday press release. "Sqope allows brokerages to scale efficiently, while enabling them to deliver a higher level of client reporting and investment transparency, regardless of a client's asset level."