Envestnet | Tamarac and Flyer Roll Out Co-Pilot OMS to Advisors
Along with the best-in-class portfolio and client management capabilities of Tamarac, Co-Pilot offers advisors and investment professionals access to sophisticated order management, increased efficiencies and streamlined operations when overseeing accounts and trading on behalf of their clients. The partnership eliminates time-wasting tasks, enabling advisors to achieve scalable growth for their business without needing to switch brokers or custodians. Key benefits include:
- Enhanced visibility: Advisors using Tamarac gain insight with centralized trading on a single platform. An order is now executed with one click across multiple brokers and custodians, and automatically allocated within Co-Pilot, rather than across multiple applications.
- Sophisticated order management: Flyer's Co-Pilot allows for tradeaways directly within the software, eliminating the calls, emails and spreadsheets typically required to manage orders. It also offers access to broker algorithms, enabling a simpler, more automated trading process that eliminates errors.
- Smart allocation: Advisors now have the flexibility to support even the most sophisticated allocation workflows, which reduces ticket charges and overrides select allocation methods. This also eliminates offline workarounds by automatically creating new orders for the remainder of open quantities and electronically sending manual allocations to custodians.
"Through Tamarac's partnership with Flyer, advisors using our trading platform are seeing tangible benefits to their workflow, enabling them to spend more time connecting with clients," said
Seven advisory firms on the Tamarac platform are already using the Co-Pilot OMS, and
"The combined offering is designed to provide advisors with a more seamless, connected way to trade. We believe this is the future of trading for advisors," said Flyer COO
Flyer is a leading provider of trading tools, connectivity, and infrastructure for the wealth management industry. Flyer automates the trade lifecycle with Co-Pilot, an order management system, and Flyer Trading Network, a multi-asset trading network. The platform unifies access to major custodians and brokers while providing intelligent Graphical User Interfaces (GUIs) and Application Programming Interface (APIs) for managing positions, orders, trades, and allocations.
Envestnet Wealth Solutions enables enterprises and advisors to better manage client outcomes and strengthen their practices through its leading Wealth Management Operating System and advanced portfolio solutions.
More than 100,000 advisors and more than 4,700 companies including: 16 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs and hundreds of internet services companies, leverage
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