Envestnet | Tamarac, a division of Envestnet, a leading provider of unified wealth management technology and services to investment advisors, announced today that it has added additional real-time custodial data into its portfolio management and reporting application, Advisor View.
This upgrade further streamlines portfolio management and reporting processes for advisors that custody with Charles Schwab & Co.
Stuart DePina, group president, Envestnet | Tamarac, said: "We constantly strive to take the integrated portfolio and client management experience to the next level, and are glad to provide this new functionality to advisors that rely on Schwab’s custodial services. Our single web-based, custodian-agnostic solution streamlines advisory practices so RIAs can obtain greater revenue and scale than they ever thought possible."
Envestnet | Tamarac’s entire Advisor Xi web-based RIA platform, which includes Advisor View, Advisor CRM and Advisor Rebalancing, is available through Schwab Intelligent Integration.
In addition to the existing custodial alerts, client account information, balances and custodial documents, Tamarac has greatly expanded the breadth of information such as adding real-time transactions, realized gains/losses and unrealized gains/losses to its array of available real-time custodial data from Schwab.
Advisors can also receive trade confirmations, statements and tax documents in Advisor View without having to sign into another system.
Earlier this year Advisor Rebalancing became the first third-party rebalancing application to be offered through Schwab Intelligent Integration, which enables advisors to leverage real-time Schwab Advisor Center custodial data from within the application.
Envestnet | Tamarac is also in the process of integrating Advisor Rebalancing with Schwab’s new web trading platform to deliver streamlined processing of account-level trades as well as block trades and allocations. This functionality is scheduled for availability in early 2014.
Brian Shenson, vice president, Advisor Technology Solutions, Schwab Advisor Services, said: "Expanding the breadth and depth of integration with technology solutions like Envestnet | Tamarac enable advisors on our platform to reap the rewards of simpler, more streamlined workflow."