Envestnet | Tamarac Announces PortfolioCenter Cloud as Solution for Emerging RIAs

Trusted performance reporting and flexible billing help emerging practices streamline their businesses and enhance client communications

Envestnet | Tamarac today announced it is offering PortfolioCenter Cloud as a portfolio management solution to help emerging registered investment advisers (RIAs) streamline their daily operations and enrich their client reporting. The solution is designed to grow alongside RIAs' practices, with options to add enhanced features and functionality with Tamarac Reporting, Trading and CRM as their business expands.

PortfolioCenter Cloud delivers the trusted portfolio management software within a cloud-based offering. The offering allows firms to make their practices more efficient by leveraging Tamarac's service team to provide daily custodial downloads, while still allowing advisors to retain control over data reconciliation. As their practices grow, RIAs using PortfolioCenter Cloud will have the option to seamlessly upgrade to industry-leading Tamarac Reporting, Trading and CRM without the need for data conversion – minimizing disruption to their firms.

"We are excited to help emerging RIAs build a foundation of scalable and streamlined business processes by combining the trusted PortfolioCenter software with Tamarac's experienced service team and offering it at an affordable price," Andina Anderson, Executive Managing Director at Envestnet | Tamarac, said. "Since our acquisition of PortfolioCenter earlier this year, we have focused on delivering existing PortfolioCenter users high-touch support, while bringing elevated, best-in-class reporting insights through the Tamarac platform. Today, we're thrilled to be able to provide more RIAs – particularly emerging practices -- with access to PortfolioCenter to help them grow and scale their businesses, in a secure cloud-based solution."

PortfolioCenter Cloud provides emerging practices with flexible client reports and billing options to help them demonstrate their firms' value to clients and receive timely payments.

"By bolstering these proven solutions with our leading onboarding, training and consulting services, we are dedicated to helping these emerging practices succeed and grow," Anderson said.

Reporting and billing flexibility allows PortfolioCenter Cloud customers to communicate information in a way that helps their clients understand how their investments are being managed, and includes:

• Custom reporting through access to more than 70 standard client reports and 100 available report columns, providing flexibility to display the most relevant information
• Options to choose the look and feel, and level of detail, for individual reports – allowing RIAs to tailor reporting to each client's situation and communication preferences
• Custom branding, giving RIAs the ability to add their firms' individual logos
• Simplified distribution through the ability to prepare professional, multi-report packages, print in batches and create PDFs for electronic distribution and archiving
• Daily downloads from the custodians provided by the Tamarac service team, while the RIA retains control of their data reconciliation

In April, Envestnet | Tamarac closed the acquisition of PortfolioCenter, Schwab Performance Technologies' portfolio management and reporting technology solution for independent RIAs. Since that time, Tamarac has remained committed to supporting existing PortfolioCenter users, while expanding the reach of its capabilities to more users. Tamarac will continue to support existing PortfolioCenter Desktop and Services clients, in addition to the PortfolioCenter Cloud offering. This solution provides a migration path for PortfolioCenter Desktop users looking to enhance their capabilities today with Tamarac's cloud-based offering.

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