Envestnet completes Tamarac acquisition

Melding of Tamarac's tech and Envestnet's portfolio expertise seen as creating full menu of services
APR 05, 2012
Envestnet Inc. announced Monday that it had completed its $54 million acquisition of Tamarac Inc. The deal was made public in February. While unexpected by most industry experts, the acquisition was viewed as one with great potential, especially when it comes to sharing of technology. Envestnet's wealth management and portfolio expertise should benefit from the technology possessed by Tamarac, long a powerhouse in the market for re-balancing software. The latter firm also has seen increased sales of its integrated Advisor platform in the last two years. Combined, the firms offer registered investment advisors a full menu of services and technology offerings, including managed-account services. “A rapidly growing number of advisers seek a fully integrated platform — one that provides a wide array of investment products and outsources back-office operations,” Jud Bergman, chairman and chief executive of Envestnet, said in a prepared statement. Tamarac chief executive Stuart DePina will continue with the combined company as a group president with a focus on RIA firms. Watch INTV go inside the Tamarac deal with Bill Crager:

Latest News

The retirement milestone advisors aren't tracking
The retirement milestone advisors aren't tracking

For Gen X clients entering life after work, answering the financial question isn't enough to solve the entire retirement equation.

Wealthtech firms target stock pay, pensions and heirs for advisors
Wealthtech firms target stock pay, pensions and heirs for advisors

Tools from Grantd, Income Lab and Healthspan Wealth aim to keep RIAs involved in clients’ biggest money decisions

CFP Board, coalition press Senate on fraud victim tax relief
CFP Board, coalition press Senate on fraud victim tax relief

With elder scam losses near $3 billion, 52 groups urge senators to pass H.R. 9500 before a new Congress resets the clock

Trump nominates Johnson, Levine to fill SEC’s empty commission seats
Trump nominates Johnson, Levine to fill SEC’s empty commission seats

White House also sends two CFTC commissioner picks to the Senate, marking the first Democrats tapped for either Wall Street regulator under Trump's second term

Prudential Wealth Advisors posts record sales, doubles down on recruiting
Prudential Wealth Advisors posts record sales, doubles down on recruiting

Record quarterly sales and 450 advisor hires in 18 months signal a wealth management transformation underway at Prudential

SPONSORED Best Practices for Engaging Women Around Alternatives

Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.