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Envestnet | Tamarac Takes Client Engagement to the Next Level

05/15/18 4:30 pm EDT
Announces aggressive product roadmap to enhance its award-winning client portal and empower advisors with new client engagement tools

CHICAGO, May 15, 2018 /PRNewswire/ -- Envestnet | Tamarac ( announced an aggressive enhancement schedule of new digital features to its award-winning client portal1 that will fundamentally change and enhance how advisors interact and communicate with their clients.

Envestnet | Tamarac (PRNewsfoto/Envestnet | Tamarac)

These new client-portal capabilities are scheduled to be deployed over the course of 2018 and will enable Registered Investment Advisors (RIAs) to highly customize the online and mobile experience for their various client types. For example, advisors can offer a more digitized version for Millennials and HENRYs (high earners, not rich yet), while also providing a more high-tech/high-touch approach for ultra-high-net-worth clients.

"Empowering RIAs with the most advanced client portal capabilities to dramatically enhance how they engage their clients and differentiate their firm is a top priority for Tamarac," said Stuart DePina, President, Envestnet | Tamarac. "Our RIA clients represent over $1 trillion in collective assets under management, and over 90% of them use our portal to interact with their clients and demonstrate the value they provide."

The new features include:

  • Client Onboarding and Tasking: The Tamarac platform empowers advisors to automate the various onboarding tasks in a cohesive, repeatable process. The typical advisor has 15 to 30 steps to onboard a client, such as completing questionnaires, uploading custodian documents, e-signing forms and opening new accounts. The advisor can bundle together the individual tasks into templates for the onboarding process and for ongoing interactions such as quarterly and annual meetings. Tamarac is currently engaged in a pilot program testing automated opening of accounts with custodians such as TD Ameritrade Institutional and Schwab.
  • Automated Risk Tolerance Questionnaire: Advisors will have the ability to create a customized risk tolerance questionnaire (RTQ) measuring a client's risk tolerance and capacity. The results will be automatically scored and weighted based on variables, such as age of the client. The score will help guide the advisor in developing an appropriate asset allocation strategy and re-balancing model target. In addition, the RTQ will enhance compliance oversight by ensuring the trading and re-balancing approach reflects the client's risk tolerance.
  • Client Proposal Generation: Advisors will be able to create a customizable client proposal that details the prospect's current situation, the recommended investment approach and the expected results. Once a prospect submits the necessary data, such as a completed risk tolerance questionnaire and links to existing investment accounts and holdings, the proposal can be formatted in a high-quality PDF and/or a digital report.
  • Data Aggregation: The technology leverages full-spectrum data aggregation from balance only to reconciled transactions, utilizing RESTful APIs to securely and accurately provide clients with their complete financial picture and reliably power advisors' reporting.
  • Personal Budgeting Tools: The tools automatically track a client's spending by budget category and makes intelligent recommendations based on their historical transaction data. The technology utilizes a rewarding behavioral design to provide clients with transparency into their complete financial picture and notifications when budget limits are approaching or exceeded. By incorporating budgeting tools within the client portal, RIAs are able to increase their client engagement and strengthen loyalty.
  • Mobile: All of the client engagement features can be accessed seamlessly via mobile devices such as smart phones (Android and iPhone) and iPad. Mobile usage is rapidly increasing. A Pew Research Center survey of U.S. adults indicated that 77% own or use smart phones as compared with 35% five years earlier. A total of 73% of U.S. adults owned or used broadband and 51% owned or used tablets2. A study of online investors by Corporate Insights found that younger clients are most likely to use a smart phone to access their brokerage accounts, with 71% of millennials, 56% of Generation X and 44% of Baby Boomers using a mobile app3

About Envestnet

Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet's unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.

Envestnet enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides retirement advisors with an integrated platform that combines leading practice management technology, research and due diligence, data aggregation, compliance tools, fiduciary solutions and intelligent managed account solutions.

More than 59,000 advisors and 2,900 companies including: 16 of the 20 largest U.S. banks, 39 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisors, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.

For more information about Envestnet | Tamarac, please visit and follow @TamaracInc.


Media Contact:
Brooke Worden
Weber Shandwick


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