Tamarac Incorporates Yodlee’s Data Aggregation into Advisor Xi

Envestnet | Tamarac’s Most Recent Technology Release, which Includes a New ‘Net Worth’ Report, Further Enhances its Client Portal as a Single Location to Engage Clients & Provide a Complete Picture of Their Wealth

Envestnet | Tamarac (www.envestnet.com/tamarac) now enables advisors to add assets and liabilities to households in Advisor View, helping them expand their focus and deliver more holistic advice to clients. This new capability, made possible through Tamarac’s integration with Envestnet | Yodlee, has been rolled out as part of Tamarac’s December 2016 technology release.

“Our integration with Envestnet | Yodlee enables advisors to provide their investor clients with a complete financial picture, including assets and liabilities – further strengthening their relationship and the value they provide,” said Stuart DePina, President of Envestnet | Tamarac. “By sharing consolidated, holistic wealth assessments through the Advisor View client portal, advisors can engage with clients to make well-informed financial decisions that can lead to better outcomes.”

Thanks to Tamarac’s integration with Yodlee, advisors and their clients can add and view data for external financial accounts such as credit cards, investments, loans, and mortgages in Advisor View, the portfolio management and performance reporting application in the Advisor Xi Suite, and in the Advisor View client portal. Envestnet | Yodlee can aggregate and analyze data using direct feeds to more than 15,500 sources, including financial institutions, billers, and reward networks. Advisors and clients can also enter assets not tracked by Yodlee, such as art collections, in Advisor View.

Assets and liabilities can be added, and their attributes and historical values updated, when a household is edited in Advisor View and the client portal. The Households page in Advisor View has a new Link Status column that enables advisors to easily monitor accounts and assets from Envestnet | Yodlee and ensure they are properly synced.

Net Worth Report in Advisor View & Client Portal

As part of its ongoing effort to help advisors further integrate financial planning and performance in client-facing reports, Envestnet | Tamarac now offers a Net Worth report in Advisor View that provides a holistic view of client portfolios, including accounts, assets, and liabilities. Advisors and their clients can assign primary ownership to accounts, assets, and liabilities in Advisor View and the client portal, and then choose to view their net worth in the Net Worth report either over time or by owner. Besides being able to view the Net Worth report in the client portal, clients can also see their net worth data in a tile on the portal’s dashboard.

In addition, Tamarac has created bulk reports and uploads to enable advisors to efficiently manage assets and liabilities for multiple accounts. For advisors that track assets and liabilities in the Advisor CRM system on Advisor Xi, Tamarac has designed new Advisor View Assets and Advisor View Liabilities views that can be imported from Advisor CRM into Advisor View. The data set files in the views are formatted to Advisor View specifications, freeing advisors from having to manually create them.

Other updates to Advisor View in this month’s technology release include:

• The flexibility to exclude capital gains distributions from the Realized Gains/Losses PDF report, which enables advisors to remove unnecessary blank pages from the report.
• The flexibility to apply billing group adjustments to a subset of the billing definitions within a billing group.

The December 2016 technology release also consists of updates to Advisor CRM and Advisor Rebalancing.

Advisor CRM

• Service Pack 1 for Microsoft Dynamics CRM 2016
• Advisors that run Advisor CRM Outlook can download and install Service Pack 1 for Microsoft Dynamics 2016 to improve performance and navigation.
• These enhancements include the capabilities to search for associated activities from an account, and expand the social pane to view additional social posts.

Advisor Rebalancing

• Workflow Improvements for Straight-Through Processing of Trades with TD Ameritrade Institutional
• Tamarac’s integration with TD Ameritrade Institutional’s Veo custodial platform already enables advisors to submit trades directly to Veo from Advisor Rebalancing for execution.
• Now, advisors can directly send all trades to the Veo trade blotter for review prior to execution, giving them added assurance that they are only submitting trades they intend to execute.

“The advisor of the future needs to demonstrate more value for clients through holistic wealth management,” said Mr. DePina. “Our updates in this technology release enable advisors to seamlessly service all aspects of a client’s financial life while growing their practices—and all by using one platform.”

Envestnet | Tamarac consistently enhances all of the applications that comprise its integrated Advisor Xi technology suite for independent RIAs, rolling out a new round of updates every 60 days. Tamarac RIAs can log into the Support and Training Center for the full details on the December 2016 technology release: https://support.tamaracinc.com/. More Press Releases Schedule a Demo