Envestnet | Tamarac to Roll Out Client Portal 2.0

Firm Also Introduces New Interactive Reporting & Chart Tools, plus Enhancements for Management & Reporting of Alternatives, in Latest Technology Release

Envestnet | Tamarac has completely redesigned the client portal in its Advisor View portfolio management and performance reporting application. The new client portal will be implemented as part of Tamarac’s July 2016 technology release, and seeks to help RIAs create highly customizable client portal experiences to engage their clients and appeal to the next generation of investors. Its enhancements include:

  • Greater Branding Capabilities—Advisors can personalize the portal by adding their profile photos to client-facing pages, and customizing the menu and text colors to match their brands.
  • More Intuitive, Streamlined Navigation—The menu bar in the client portal has been resized to make more screen space available for data, and now includes notifications that alert clients to unread announcements about time-sensitive activities and developments.
  • Simple, Modern Design—The new client portal design allows investors to quickly see a full financial snapshot on a single page thanks to its intuitive tile layout, along with a photo of their advisory team that leads to its members’ contact information.

In today’s increasingly digital world, advisors need to leverage the latest in mobile technology to engage their clients and demonstrate the value they provide,” said Stuart DePina, Group President of Envestnet | Tamarac. “The enhancements to our client portal are designed to empower advisors to create a more interactive, personalized experience for their clients, in which data, insights, and notifications can be dynamically displayed and discussed—giving advisors a long-term competitive advantage.”

Envestnet | Tamarac also rolled out new features to make charts in Advisor View reports more compelling and interactive. Besides being able to leverage updated default colors that give report charts a more modern look, advisors can now zoom in and hover for quick access to data points, seamlessly print charts directly from their dashboards, and easily view details by placing the cursor over a category or data point.

These functionalities can be used in scatter charts as well as bar and pie charts, and a new option—the donut chart. Advisors can utilize these features to make charts more interactive in the following reports: Account Performance, Asset Allocation, Account Analytics, Bond Analysis, Capital Flows, Projected Income, and Summary.

Advisors can also add a tile on the Advisor View dashboard which monitors intraday changes in the values of holdings. This information can then be downloaded into the Holdings report, where it can be displayed under the new “Intraday Value Change ($)” column.

Enhancements to Improve Management & Reporting of Alternative Assets

In addition, Envestnet | Tamarac rolled out the first in a series of updates to enable better management and reporting of alternative assets in Advisor View, such as cost-basis tracking and estimated-value calculations. The enhancements also further streamline the workflows for managing alternative assets by providing:

  • More robust reporting, including the newly added ability to specify and report on cost basis and its derivatives, such as unrealized gains.
  • A host of usability and workflow enhancements to make managing these assets simpler and more intuitive, including a powerful new data upload, more robust filtering of historical data, and the ability to apply actions to multiple records at once.
  • Better data management and retention, such as retaining estimated values after they have been updated to actual values for historical auditing and reporting, and the ability to keep but deactivate historical records. The latter feature enables advisors to exercise more control over reporting without having to delete and replace historical records.

The enhanced reporting features in Advisor View allow advisors to provide more holistic portfolio management services and insights for their clients—and the capability to seamlessly offer intelligence on both traditional and alternative assets in a single report, and client portal, is key to strengthening client relationships,” said Mr. DePina. “As part of our ongoing platform technology releases, we will continue to roll out updates that streamline multiple workflows and foster greater levels of engagement with clients.”

The July 2016 technology release also includes updates to Advisor Rebalancing and Advisor CRM.

Advisor Rebalancing

  • Rebalancing and Allocation Model Enhancements
    • New default buy order options enable advisors to create more customized rebalances.
    • Sub-models in allocation models can now include 0% targets, giving advisors greater flexibility to accommodate restricted securities and legacy positions.
  • Expanded Options to Customize Directed Trades
    • Advisors can configure restrictions for each directed trade to honor wash sales, short-term gains, and redemption fees, and also allow trades that fall below the minimum investment settings.

Advisor CRM

  • Deeper Integration Between Advisor CRM 2016 & Advisor View
    • Advisors that have upgraded to Advisor CRM 2016 (compatible with Microsoft Windows 10 and Microsoft Office 2016) can sync data for households they create in Advisor CRM to Advisor View.
    • Financial accounts created in Advisor View can be automatically assigned to households in Advisor CRM, further streamlining the account-opening process.

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.

Author: Dylan Jones

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