Envestnet | Tamarac Experiences Record Technology Adoption In 2013

Year Ends with Over 650 Independent RIA Firms on Company's Integrated Portfolio and Client Management Platform - Advisor Xi^®

Envestnet | Tamarac, a leading provider of integrated, web-based portfolio and client management software for independent advisors and wealth managers, experienced an extremely productive 2013 fiscal year, entering into contracts with 173 RIAs, bringing the total number of independent RIA clients on Tamarac's Advisor Xi^® platform to over 650 firms collectively managing in excess of $350 billion in assets (based off most recent ADV information). 2013 also represents the fourth year in a row that the company has maintained a client renewal rate of over 97 percent, and was punctuated by record fourth-quarter sales.

In 2013, Envestnet | Tamarac entered into contracts with 23 RIAs managing $1 billion or more in assets under management (AUM). This brings the total number of RIAs with at least $1 billion in AUM utilizing Tamarac's Advisor Xi platform to nearly 100 firms.

The increase in Advisor Xi adoptions in 2013 was not limited to large RIAs. At the close of the year, close to 500 RIAs managing less than $500 million in AUM were utilizing Advisor Xi. A record number of firms adopted Advisor Xi during the fourth quarter of 2013.

"The impressive growth and deal-making we saw over the last year are further validation of the benefits independent RIAs of all sizes can receive by adopting Advisor Xi as their unified technology platform," said Stuart DePina, Group President, Envestnet | Tamarac. "Advisor Xi's components seamlessly work together, allowing advisors to create more efficient and profitable practices which we believe leads to increased client satisfaction. It is gratifying to see that so many RIAs understand the advantages of a fully integrated, custodian-agnostic technology solution, and have chosen us as their strategic partner."

The RIAs that committed to Advisor Xi during the fourth quarter of 2013 include Freestone Capital Management, LLC, an independent wealth management firm serving high-net-worth families and institutions with offices in Washington, Oregon and California, and H.M. Payson & Co., an independent RIA and trust company serving the investment needs of individuals, families and institutions since 1854. Both Seattle-based Freestone, which manages $2.8 billion in assets, and Portland, Maine-based H.M. Payson, which manages $2.5 billion in assets, as of the end of 2013, will be incorporating the full Advisor Xi suite into their practices.

"Freestone has a broad suite of investment solutions for our clients, ranging from traditional equity and fixed income strategies to private equity, real estate and alternative investments. In addition, our high net worth clients expect sophisticated reporting and in-depth wealth management services. After extensive due diligence, we selected the Advisor Xi platform with its feature rich portfolio accounting, contact management, and client reporting systems," according to Gary Smart, CFA, a partner at Freestone Capital Management. "We look forward to working with Tamarac as we deploy Advisor Xi and expect that the integrated systems will greatly enhance our clients' Freestone experience."

Advisor Xi deeply integrates portfolio management, billing, rebalancing, trading and performance reporting software with an enterprise-level client relationship management (CRM) system and an online client portal. The platform is designed to allow advisors to easily manage relationships with multiple custodians. Advisor Xi's high level of integration can enable RIAs to grow their AUM without having to substantially increase their personnel. More Press Releases Schedule a Demo