CHICAGO, IL – April 10, 2018Press Release
LJPR Financial Advisors Selects Envestnet | Tamarac Technology to Enhance Client Service and Create Efficiencies
Firm selects award-winning Tamarac platform for portfolio management, reporting, billing and client portal technologyLJPR Financial Advisors, a fee-only financial advisor and wealth management firm headquartered in Troy, Michigan, announced it selected the award-winning Tamarac Reporting™ portfolio management, performance reporting, billing and client portal portfolio management application. The technology solution will enable LJPR to increase efficiency and enhance its ability to provide their clients with a complete financial wellness solution, grounded in planning and education.
“Our roots are in financial education,” said Anne Whipple, Operations Manager at LJPR. “We help our clients understand and manage their money by taking a holistic approach including financial planning, investment management, tax planning and estate planning.”
Whipple noted the Tamarac platform has enhanced their ability to provide a broader wealth management approach by providing dynamic financial planning and reporting tools and streamlining their back-office operations. A key factor driving the decision was the ease of access from any location at any time, as well as ease of use, with an intuitive design that works for all employees and clients.
“As the most comprehensive technology solution for RIAs, the Tamarac platform helps firms better engage with their clients and demonstrate the value they provide,” said Stuart DePina, president of Envestnet | Tamarac. “Tamarac’s best-in-class software empowers RIAs to operate with greater efficiency and profitability, while delivering a superior level of service to their clients.
Among the outstanding features of the Tamarac platform is the award-winning client portal, according to Whipple. “The client portal buildout is spectacular,” she said. “In fact, we did a client event to introduce the portal. The response from clients has been overwhelmingly positive.”
Whipple noted the client portal includes a dynamic net-worth report that encompasses LJPR assets under management as well as outside-held assets, providing a broad financial picture that aligns well with the firm’s financial planning approach.
Whipple added that the technology helped LJPR decrease its administrative burden in areas such as billing, freeing up key staff for other tasks. For example, it reduced the time required for billing from a total of 3 hours for six employees to 50 minutes.
Looking to the future, Whipple said the features offered by the Tamarac platform will help LJPR plan for client growth, especially in targeting Millennials, and in hiring new employees. “For any forward-looking firm, it’s important to recognize that Millennial clients, and employees as well, will expect the best technology and features like the client portal,” noted Whipple.
LJPR Financial Advisors, headquartered in Troy, Michigan, is a fee-only financial advisor and wealth management firm that specializes in retirement planning, investment management, estate planning and tax planning. Founded in 1989, the firm’s mission is to help individuals, families, and foundations understand, manage and keep more money. The firm’s holistic approach, rooted in education, helps clients set priorities, reduce uncertainty and build confidence in their future.
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