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News Archive
New version of Tamarac Advisor
Tamarac unveils the next generation of their web-based portfolio monitoring and rebalancing software - Advisor 8
New version pairs eight years of building industry leading portfolio management features with unparalleled usability and fast implementation time
Seattle, Wash., July 22, 2008
Tamarac Inc., the market leader in premium portfolio management, rebalancing and trade order generation software for investment professionals, today launched a new version of its flagship software product - Advisor™8. While there are a significant number of new features in Advisor 8, the biggest enhancement Registered Investment Advisors (RIAs) will benefit from is the new user interface which offers a level of usability traditionally not seen in financial applications.
"Over the course of the last year we've made significant investments in our product and our primary focus has been to increase the usability to enable independent RIAs to easily integrate our application into their portfolio monitoring, rebalancing and trading processes. We wanted to bring our product usability up to the level of our industry leading portfolio rebalancing feature set. This led us to enhance our user interface to include streamlined workflows and enhanced features including portfolio construction and modeling functionality," said Stuart DePina, CEO of Tamarac. "During this process we've consulted with approximately 200 of our clients as well as performed market research with an excess of an additional 200 RIAs, TAMPs, Regional Brokers, Custodians, and other service providers, the results of which are now included within our core application."
"It's amazing how many improvements have been made to Advisor in the last year. The feature-rich application was very technical, but with the new user interface and workflow orientation, someone who's new to the system could pick up 70-80% of the functionality just from the enhanced usability alone," said Andrew Lin, Director of Investment Operations at United Capital Financial Advisors. "As one of the clients that participated in Tamarac's field study on portfolio management process, it's rewarding to see the workflows we discussed come to fruition in the new navigation of their application."
"Our users have found the new Advisor 8 interface to be much more intuitive and are able to work more efficiently now that critical functionality is placed in more natural workflows," says Shane Cummings, Financial Analyst at Halbert Hargrove. "In far fewer clicks, we are able to adjust client accounts very effectively and make sure nothing vital is forgotten. Users can see security restrictions, wash sales, trade settings, and tax sensitivity all on one page simultaneously. From a management perspective this means less time spent on navigating through an application and each user feeling more confident in their mastery of the new interface. Now management is able to focus more on monitoring compliance with our trading guidelines and deadlines.
Tamarac's web-based software product, Advisor 8, gives RIAs the freedom to grow their business as aggressively as they want by automating critical back-office functions, such as portfolio monitoring, rebalancing, cash management, tactical trading, tax-loss harvesting and trade order generation.
Advisors and Wealth Managers using Tamarac experience measurable reductions in time and resources spent on portfolio management, allowing them to focus on building their business by spending more time with clients, referrals and research for portfolios. Tamarac's software enables RIAs to better serve their clients through a higher level of wealth management services and compliance to their individual account needs.
"Tamarac has become a vital strategic partner enabling us to better serve our clients while reducing staff time relating to trading by 65%," said Daniel Dubay of PPA Advisors, "We can now run multiple trade scenarios, factoring in taxes and trading cost in minutes vs. the better part of a day. Tamarac has given us capacity and scale that hiring more staff could not have accomplished."
"We have seen strong adoption of our Advisor product from larger RIAs in the last year as we currently host over 80 firms with average assets under management (AUM) in excess of $600 million, and 30 of those firms have an average AUM in excess of $1 billion," said DePina. "We've also invested in our own company growth with 25 new hires in the last 12 months - to better serve our clients through consulting, implementation, training and support. As we are experiencing rapid adoption of our service, our goal is to maintain our 95% renewal rate."
About Tamarac Inc.
Founded in 2000, Tamarac focuses on web-based portfolio rebalancing and trading software and consulting services for investment professionals that enable them to grow their business by automating critical portfolio management tasks. Tamarac is the leading portfolio rebalancing software provider with a collective client AUM in excess of $100 billion. Tamarac maintains over a 95% client renewal rate by working with each client to implement its technology and providing continuous support.
Tamarac is headquartered in Seattle, WA. Its website address is: http://www.tamaracinc.com
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