Tamarac opens platform to RightCapital

Advisers on RightCapital's financial and tax planning software can pull client data directly from Envestnet's tool

Nov 30, 2017 @ 5:20 pm

By Ryan W. Neal

Registered investment advisers using RightCapital's financial and tax planning software can now pull in client account information and holdings data directly from Envestnet's Tamarac tool.

The integration automatically updates RightCapital daily with information from Tamarac's performance reporting and portfolio management technology. The goal is help advisers streamline workflows to reduce mistakes and save time spent on manually imputing data.

(More: Garrett Planning Network cuts deal on software that creates comprehensive financial plans.)

Though Envestnet offers many of its own financial planning tools that compete with solutions offered by RightCapital, Envestnet Tamarac President Stuart DePina said the integration is part of the company's commitment towards being "an open platform."

"Tamarac is always looking for ways to offer advisers the flexibility and support they need to automate their business processes through meaningful integrations," Mr. DePina said in a statement.

Envestnet made integrations with third party technology a focal point of an overhaul of the Tamarac platform that it unveiled earlier in November. At the time, Envestnet Tamarac Managing Director Brandon Rembe said the company was moving toward a more "open-architecture" approach, but would still be "highly selective" of the technology with which they integrated.

Tamarac also integrates financial planning tools from eMoney and MoneyGuidePro.


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