Envestnet | Tamarac to update its integrated platform for RIAs

New version of Advisor Xi scheduled for launch this spring

Feb 11, 2014 @ 2:31 pm

By Joyce Hanson

With integration emerging as a huge theme at this year's T3 Technology Tools for Today conference in Anaheim, Calif., Envestnet | Tamarac got things rolling Tuesday by announcing a new version of its integrated platform for registered investment advisers.

In May, Envestnet | Tamarac will launch an updated version of its Advisor Xi integrated customer relationship management platform, said Brandon Rembe, the firm's senior vice president of technology.

The new CRM will include the Advisor Xi suite of products, including Advisor View and Advisor Re-balancing, and Mr. Rembe noted that the new platform incorporates many third-party integrations, including real-time custodial feeds, document management, form fill and financial planning.

“It's a whole new user interface with different workflow design and more in-depth integration,” he said.

During his presentation Tuesday morning, Mr. Rembe said that while 30% of advisers don't integrate their tech, those that do spend 30% more time in front of clients and 30% less on operations. Further, he said, advisory firms that use back-office integration have double the wallet share of those who don't.

With the new version of Advisor Xi, Envestnet | Tamarac will streamline the most common back-office workflows for its RIA clients, Mr. Rembe said. Currently, he said, advisers using the CRM's workflows need to do a lot more clicking, and they see a lot of screens popping up.

Turning to another big trend watched by T3 conference-goers, Mr. Rembe said the end client experience has become a big focus at his firm because the consumerization of technology is driving change.

“Envestnet | Tamarac is focusing very heavily on the end client experience,” he said. “We really feel that with all the new technologies that are out there, such as [online personal finance tools] Betterment and Mint, we want to allow our advisers not just to compete with those offerings, but offer a more comprehensive and customized experience than those tools can offer.”


What do you think?

View comments

Recommended for you

Featured video


Top questions surrounding future of DOL fiduciary rule

Reporter Greg Iacurci and managing editor Christina Nelson discuss the biggest uncertainties springing from the Fifth Circuit Court of Appeals' decision to vacate the regulation.

Latest news & opinion

UBS reels in $30 billion J.P. Morgan team focused on Mexico

The five-member team will be based in Miami, Houston and New York.

Higher estate-tax exemption level could mean less work for advisers

With fewer taxpayers affected by the federal estate tax, the demand for estate planning is diminished.

Stocks plunge, advisers tell clients to hang tight

Though planners encourage calm, some are preparing investors for a correction.

Lightyear Capital's Donald Marron said to be in the hunt for Cetera Financial Group

The veteran brokerage executive, who bought Advisor Group in 2016, owned Cetera once before.

What to watch for next with the DOL fiduciary rule

Much hinges on whether the Labor Department appeals the 5th Circuit decision by April 30.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print