Envestnet | Tamarac Implements Integration with Pershing's NetX360® Platform
Pershing Integration Makes Real-Time Balances, Holdings, Transactions, and Account Details Available in Portfolio Management Application and End-Client Portal
CHICAGO, IL – March 09, 2016 – Envestnet | Tamarac has integrated its web-based, custodian-agnostic Advisor® Xi suite with Pershing LLC’s open-architecture platform, NetX360®. As part of the integration, registered investment advisors (RIAs) who custody with Pershing Advisor Solutions, and those RIAs’ clients, can obtain real-time account details directly from the Advisor View™ portfolio management, reporting, and billing application.
"By forging and strengthening integrations with a variety of custodians and other strategic partners, we facilitate a broader range of efficiencies for as many independent advisors as possible," said Stuart DePina, Group President of Envestnet | Tamarac. "We look forward to continuing to work with Pershing and Pershing Advisor Solutions to deliver real-time data, financial tools, and account management services that help advisors deepen engagement with, and improve outcomes, for their clients."
Advisors can access real-time account details, including account and cash balances, addresses, beneficiaries, registrations, and contacts, when running the Custodian Account Details report in Advisor View. They can also incorporate data in Advisor View’s Holdings and Transactions reports.
"The integration of Tamarac with NetX360 is a reflection of our continued investment in open architecture and making it easier for RIAs to integrate into Pershing’s platform," said Ram Nagappan, Chief Information Officer and Managing Director at Pershing. "Integrating best-of-breed products such as Tamarac’s Advisor Xi helps our clients run their businesses more efficiently, and enables them to deliver better solutions and experiences for their clients."
The integration with Pershing’s NetX360 platform also provides advisors with access to a wide selection of Pershing core services, business data sets, and functionalities through application programming interfaces (APIs) customized for Advisor View. Envestnet | Tamarac has also established a Financial Information eXchange (FIX) connection with Pershing in its order management system, Advisor OMS, which is part of the Advisor Rebalancing® application.
"The integration between Tamarac and Pershing is already benefiting our clients and team members," said John D. May III, Manager of Planning and Investments for Reed Financial Services. "Having access to holdings and transactions in addition to portfolio performance and asset allocation data inside Advisor View and the client portal creates a streamlined interface for all portfolio information. Transparency has always been a quintessential facet of our business model, and we are pleased we can make the wealth management process more transparent and efficient for clients with real-time data from Pershing and Pershing Advisor Solutions."
Envestnet | Tamarac will continue to strengthen its strategic relationship with Pershing to offer additional enhancements for advisors and their clients, such as document exchanges and the straight-through processing of trades.
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.