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CHICAGO, IL – September 20, 2018
Press Release

Envestnet | Tamarac Announces a Fully Digital Client Account-Opening Process With TD Ameritrade and Schwab Advisor Services

Tamarac makes strides towards streamlining the client onboarding process
Envestnet | Tamarac (www.tamaracinc.com) announced new integrated systems with two major custodians, TD Ameritrade and Schwab Advisor Services, that will enable advisors to streamline the client onboarding process by digitizing the account opening process. Registered investment advisors (RIAs) that manage accounts with TD Ameritrade or Schwab Advisor Services will now be able to auto-fill client information using the Tamarac platform to dramatically improve the account opening process.

“We are excited to work with TD Ameritrade and Schwab Advisor Services on this venture that will undoubtedly improve efficiencies for RIAs as well as provide enhanced convenience for their clients,” said Stuart DePina, president, Envestnet | Tamarac. “This advancement is part of our ongoing roadmap designed to automate time-consuming processes, such as client onboarding, and allow RIAs to focus on higher-value activities such as building client relationships and holistic financial planning.”

The account opening integration is currently being piloted with both custodians, and pulls in client information from Tamarac to pre-populate available details needed to open accounts with TD Ameritrade and Schwab Advisor Services. Both custodians will be the first to officially offer digital account opening of this kind to the marketplace using the Tamarac platform.

The automation and digitization of the account opening process increases operational efficiency across the board for RIAs, custodians, and mutual clients by eliminating the need to manually populate information into multiple locations, a historically tedious and repetitive process. The process also allows RIAs and clients to work directly through the Tamarac platform using e-signatures and a single sign-on to increase visibility into accounts with their custodian of choice.

The new integration will increase efficiencies for RIAs, allowing for an easier onboarding process and less time spent opening new accounts. Advisors and clients at all financial levels, from millennials to ultra-high net-worth individuals, will benefit from less paperwork and a smoother process.

“Our experience with the new account-opening process has been very positive,” said Eric Sontag, Chief Operating Officer, Managing Director of Sontag Advisory, LLC. “The single point of data entry makes a tremendous difference in time and accuracy so that a laborious process that used to take many hours or even days now takes only a few minutes.”

This is the latest integration between Tamarac and these custodian partners as the company moves toward additional automated processes intended to ease the investment process for both RIAs and their clients, including proposal generation, risk tolerance questionnaire and integrated financial planning capabilities.
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About TD Ameritrade Institutional

TD Ameritrade Institutional empowers more than 6,000 independent registered investment advisors (RIAs) to transform the lives of their clients. We provide powerful technology and resources that help simplify running a business and let advisors do more of what matters most — spend time serving their clients. Through meaningful innovation, steadfast advocacy and unwavering service, we support RIAs as they build businesses that positively impact their clients and communities. TD Ameritrade Institutional is a division of TD Ameritrade, Inc., member FINRA/SIPC, a brokerage subsidiary of TD Ameritrade Holding Corporation.

About Charles Schwab

At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.

More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube and LinkedIn.

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 88,000 advisors and 3,500 companies including: 15 of the 20 largest U.S. banks, 43 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 www.tamaracinc.com and follow @TamaracInc.
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