Envestnet | Tamarac Rolls Out New Initiatives in Advisor View™ Client Portal
Updates Include New Household Structure, Service Team Functionality, & Redesigned User Interface to Create Better Online Client Engagement
CHICAGO, IL – March 31, 2016 – Envestnet | Tamarac has launched four major software updates designed to strengthen RIAs' online engagement with clients. The roll-out is part of the firm's March 2016 technology release.
"In today's digital environment, clients of all ages and RIA firms of all sizes want an integrated online solution to manage their portfolios," said Stuart DePina, Group President of Envestnet | Tamarac. "We continue to implement feedback from the advisors we serve, creating more online portfolio management and reporting tools that can help them to better demonstrate the value their firms provide. Deeper engagement with clients is crucial to strengthening client relationships and outcomes, and therefore, we are laying the groundwork for significant enhancements to our client portal—the digital hub of communication between clients and advisors."
1. New Household Structure in Advisor View™ Client Portal
This feature will enable Advisor View and its client portal to better integrate with financial planning tools such as MoneyGuidePro® and Envestnet | Finance Logix, which use a household-centric structure to connect accounts, clients, and reporting groups.
As Envestnet ৷Tamarac rolls out deeper integrations with financial planning providers at the household level, advisors will be able to combine goals-based data and performance-based data in all aspects of reporting in Advisor View—including the client portal.
This structure allows clients to easily view and keep track of all accounts in a single household according to each household member's goals and reporting preferences.
The household structure in Advisor View will be consistent throughout the Advisor® Xi Suite, which includes Advisor View as well as Advisor CRM® and Advisor Rebalancing®.
Advisors can generate PDF reports in Advisor View at the household level, and format saved searches, bulk reports, and settings/membership via uploads for households.
2. New Service Team Functionality
A service team defines the team members that will be directly involved with servicing a household. For example, a service team may consist of a trader, customer service associate, primary advisor and secondary advisor. With the service team structure in place, Advisor View will facilitate communication, workflows and online service requests in future releases.
Advisors will be able to easily define a service team's internal tasks and roles during the creation process. Roles help organize service team members into categories, such as Compliance, Customer Support, Primary Advisor, or any other desired category.
Once service teams have been set up, they are assigned to households. Service teams will be kept informed on how their households are being serviced going forward.
In the future, clients will have access to the full breadth of their service teams through the client portal, depending on their needs.
3. Redesigned Advisor View User Interface
As part of the first phase of the new user interface rollout, Envestnet ৷Tamarac has streamlined the user interface of the Accounts and Client pages within Advisor View to enable advisors to complete account and portal management tasks faster and more efficiently. Tamarac plans to redesign the user interface for all Advisor View pages, but the firm understands that doing so all at once would significantly disrupt advisors' workflows; therefore, the page updates are being rolled out in stages.
The new user interface makes use of modern navigation, providing animation instead of pop-up windows and offering a stylish look and feel.
Advisors can also utilize navigation improvements for more streamlined editing of accounts and reporting groups; for example, advisors can now easily select all accounts for editing tasks or PDF report-generation from a single menu.
The new Accounts page also requires less scrolling and switching between pages, facilitating better usage of screen space.
"These navigation, workflow, and communication updates were made with both the advisor and end client in mind," added Mr. DePina. "The enhanced integration with financial planning applications will provide more opportunities for advisors to strengthen the long-term client relationships at the roots of successful practices."
Envestnet ৷Tamarac consistently enhances its technology suite, rolling out a new round of updates every 60 days.
Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to investment advisors. Our open-architecture platforms unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet solutions enable the transformation of wealth management into a transparent, independent, objective, and fully-aligned standard of care, and empower advisors to deliver better outcomes.
Envestnet | Tamarac's web-based platform for independent RIAs, Advisor® Xi, deeply unifies portfolio management, modeling, rebalancing, trading, billing, and reporting with a client portal and enterprise-level client relationship management (CRM) system.
Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. More than 950 companies, including 12 of the 20 largest U.S. banks and hundreds of Internet services companies, subscribe to the Envestnet | Yodlee platform to power personalized financial apps and services for millions of consumers. Envestnet | Yodlee solutions help transform the speed and delivery of financial innovation, improve digital customer experiences, and drive better outcomes for our clients and their customers.