Envestnet | Tamarac and Flyer Roll Out Co-Pilot OMS to Advisors

Advisors using Tamarac Trading now have access to enhanced trading capabilities to streamline operations, eliminate errors and improve outcomes for clients

Envestnet | Tamarac and Flyer today announced that their integrated software is now available for advisors looking to enhance trading capabilities and streamline operations. The integration joins the Tamarac platform with Flyer’s Co-Pilot order management system (OMS) and Flyer Trading Network to provide a more comprehensive, seamless experience while helping eliminate high-risk errors. This partnership offers advisors an advanced solution for trading equities, ETFs, mutual funds and other asset classes, and accessing broker trading algorithms to connect with brokers and allocate trades. PortfolioCenter Cloud delivers the trusted portfolio management software within a cloud-based offering. The offering allows firms to make their practices more efficient by leveraging Tamarac's service team to provide daily custodial downloads, while still allowing advisors to retain control over data reconciliation. As their practices grow, RIAs using PortfolioCenter Cloud will have the option to seamlessly upgrade to industry-leading Tamarac Reporting, Trading and CRM without the need for data conversion – minimizing disruption to their firms.

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: PortfolioCenter Cloud provides emerging practices with flexible client reports and billing options to help them demonstrate their firms' value to clients and receive timely payments.

• 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 Andina Anderson, Executive Managing Director at Envestnet | Tamarac. “At Tamarac, our mission is to arm advisors with tools they need to succeed in this incredibly competitive industry and our work with Flyer is a great example of how we continue to deliver value.”

Seven advisory firms on the Tamarac platform are already using the Co-Pilot OMS, and Envestnet and Flyer are working to on-board others. Advisors using Tamarac will also have access to the Flyer Trading Network, which is an advanced, multi-asset trading network which enables advisors to trade with multiple custodians and brokers through one centralized OMS.

“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 Bradley Kellogg. “The joining of these two leading technologies creates streamlined workflows for advisors and better outcomes for their clients. We are incredibly excited by the positive feedback we have received from advisors on Co-Pilot and look forward to continuing with the rollout to Tamarac advisors.” More Press Releases Schedule a Demo