CRM/Product Enhancements/Reporting/Training

What’s new: Enhancements to trading, reporting, and CRM

As you look to enhance your client’s digital wealth experience, our Envestnet | Tamarac teams are excited to introduce our latest enhancements across the entire Tamarac platform. Our commitment to continually enhancing our platform allows us to respond to the evolving needs of Registered Investment Advisors (RIAs) and, ultimately, the efficiency of your practice. Here’s a look at what’s new.

From Tamarac Trading: Rebalance enhancements

Rebalance summary set-up process streamlined
We understand how important the Rebalance page is to RIAs and their businesses. Typically, when advisors open Account Settings on the Rebalance page, they need to adjust a Rebalancing Account setting. To streamline this process, the Rebalance tab now loads as the default option when opening Account Settings from the Rebalance page.

This enhancement applies to Accounts and Rebalancing groups. Here’s a look at how it’s displayed for single and group accounts.

Single account view
Group account view

Deviations added as a category type on the Rebalance page
We understand the importance of maintaining alignment with client goals. Based on advisor feedback, we’ve developed a powerful solution that provides more flexibility and insight to portfolio allocations. With this release, advisors can now display portfolio deviation calculations at multiple Category levels as columns within their Rebalance page Views, providing a comprehensive view to identify and address deviations from desired asset allocations.

Here’s a look at the Deviations category type and the value it offers.

In addition, this enhancement allows advisors to quickly search for accounts with deviations out of tolerance as targets for rebalancing. Here’s a look at how it’s displayed.

From Tamarac Reporting: Added efficiency

Export compliance ADV report data to CSV file
We know how vital the Compliance ADV report is to RIAs and their businesses. It compiles relationship data for your account set, with the as of the date you choose, and helps in the completion of Form ADV.

With this release, advisors can directly export household details from the Compliance ADV report to a CSV file. The export offers enhanced flexibility and compatibility for audits and ensures that advisors have configured the correct household AUM and compliance fields.

Benchmark setting added to security groups
RIAs need to provide clients with the most comprehensive view of their portfolios. Based on advisor feedback, we learned about the importance of more flexibility around benchmark assignments.

With this release, advisors can assign and save benchmarks to security groups. This enhancement offers a streamlined approach to managing security-level benchmarks and ensures consistent reporting across all reports.

Dispersion Data Points Added to Composite Statistics Report
With this release, we’ve made important updates to our Composite Statistics report to align with the latest Global Investment Performance Standards (GIPS). As a result, we’ve added additional data points to ensure that our report now includes all the necessary dispersion data points:

  • Accounts Included in Dispersion
  • Gross Dispersion
  • Gross Dispersion (asset-weighted)
  • Net Dispersion
  • Net Dispersion (asset-weighted)

From Tamarac CRM: Access to Envestnet insights

With this release, RIAs can access Envestnet Insights from the Tamarac CRM portal. Insights are actionable items generated by Envestnet Data & Analytics that identify essential portfolio items advisors may want to review with their clients, all designed to help better manage client relationships.

Our Insights Engine reviews an entire book of business on a daily basis to identify over 100 potential client action items. Insights provide details about clients and their activities. For example, our Insights show:

  • Portfolio holdings, including high-fee products, underperforming assets, inflows/outflows, high levels of cash, and mutual fund distributions
  • Tax planning opportunities, including unrealized losses in underperforming products and tax loss harvesting
  • MoneyGuide financial planning opportunities, including financial plan needs updates, upcoming liquidity events, and retirement needs
  • And much more

For more information about Envestnet Insights, connect with us at support@envestnetintelligence.com.

Learn More

As we continue to innovate and enhance the Envestnet | Tamarac user experience, stay tuned for regular “What’s New” updates. Learn how our robust reporting and trading solutions can help you deliver the customized performance tools and resources your clients need. Visit www.tamaracinc.com or give us a call at 866-525-8811.

The information, analysis and opinions expressed herein are for informational purposes only and do not necessarily reflect the views of Envestnet. These views reflect the judgment of the author as of the date of writing and are subject to change at any time without notice. Nothing contained in this piece is intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type.

FOR INVESTMENT PROFESSIONAL USE ONLY ©2023 Envestnet. All rights reserved.

Product Enhancements/Reporting/Trading

What’s New: New Tamarac Platform Experience and More

As you look to enhance your client’s digital wealth experience, our Envestnet | Tamarac Reporting Team is excited to introduce a more modern and minimalist user interface with the Tamarac platform. We’ve started to introduce these changes with our April release and will continue the rollout over the next few months.

Tamarac Reporting: New Platform Experience

In the new Tamarac platform design, users benefit from the following:

  • A modern digital interface
  • Consistent flyouts, modals, and notifications
  • Simplified navigation using icons and tooltips
  • Streamlined grid interactions for searching, filtering, and completing actions
  • Enhanced reporting functionality with updated charts, tables, and settings

Tamarac Reporting: Transaction Note Improvements

Transaction notes provide details about specific transactions and are generally provided by the custodian. These notes allow users to track the details of their client’s transactions, especially for securities that may be difficult to track otherwise. With this release, we have given users more control over what appears in these notes. Now users can edit the custodian’s notes and include even more detail. This change impacts all reports where transaction notes appear:

  • Edit Custodian Transaction Notes. In the past, users had to contact their service team to edit the transaction notes provided by the custodian. Now users can edit these notes with an Account Transactions bulk data upload.
  • New Extended Notes Column. To allow users to include additional detail with transaction notes, we’ve updated the existing Account Transactions bulk report to include an Extended Notes column. This new column lets users identify and review data in more detail. These notes can be firm-specific and help users align more closely to internal processes.

Tamarac Trading: Rebalance Summary User Experience Improvements

We recently introduced a redesigned Rebalance Summary report with a better design and a more streamlined trading workflow. The Rebalance Summary now offers greater model tier separation to make it easier to read. We’ve added more space around the model tiers, so each section stands apart more clearly.

In addition, as part of the Rebalance Summary user experience improvements, we’ve relocated subtotals, making it easier to track each section and its totals, enhanced the ability for users to expand or collapse model tiers from within the grid, added the ability to jump to specific model tiers for easier access, and incorporated cleaner symbol and description displays.

Learn More

As we continue to innovate and enhance our user experience, stay tuned for regular “What’s New” updates from Tamarac. Learn how our robust reporting and trading solutions can help you deliver the customized performance tools and resources your clients need. Visit www.tamaracinc.com or email us at RIASales@envestnet.com.

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Envestnet Summit - Elevate

Envestnet Summit 2023 – Elevate Delivers Timely Insights and Solutions

With Envestnet Summit 2023 – Elevate in the books, we thank all the advisors who joined us in Denver to elevate their practice by enabling the Intelligent Financial Life™.

From more than 100 exhibitors in our Expo Hall to thought-provoking keynote sessions and various learning tracks, Envestnet Elevate provided insights, training, and networking opportunities to help advisors elevate their practice.

Here’s a recap of what we covered.

Empowering a Differentiated RIA Business Model

To start this session, I reviewed RIA industry trends, competitive pressures, and potential responses for firms to consider. At Envestnet, our goal is to engage more efficiently and effectively with RIAs than ever before. From our Tamarac technology platform to our financial wellness ecosystem that helps connect every facet of a client’s finances, we help RIAs differentiate their practice and drive growth.

Did You Know…

  • The RIA Channel is the fastest-growing advisor segment, with more than 72,000 advisors and 16,670 firms. Consolidation and the emerging influence of large, well capitalized firms is adding to competitive pressures. The industry average size for an RIA firm has more than doubled over the last 5 years.1
  • Envestnet serves more than 2,600 RIA client firms with $1.8 trillion in total AUM.2
  • Over 35% of all RIAs managing more than $1 billion in AUM and over 47 of the largest 50 wealth management and brokerage firms partner with Envestnet | Tamarac.2

Dedicated RIA Track

Our dedicated RIA Track included Tamarac Deep Dive training, a Tamarac Roadmap update, and insights about the Power of Envestnet’s Ecosystem. This track also had a variety of other sessions to help RIAs learn more about industry trends and additional opportunities available as Envestnet | Tamarac clients.

In our Deep Dive sessions, we covered the following:

  • Unlocking our new Client Portal experience
  • Incorporating Alternatives into a business at scale
  • Determining if a practice is compliance fit
  • Learning how to run quarter end more seamlessly
  • Getting the latest updates on our Trading, Reporting, and CRM upgrades
  • Exploring new ideas for managing client relationships

Pre-Summit Tamarac User Group: How to Optimize Tamarac to the Fullest

Our client user groups brought together users of the Tamarac suite to discuss workflows, features, and best practices. Members of our Tamarac Product team and our Client Success group drove the discussion between users and leaders from several RIAs to share ideas and optimize Tamarac to its fullest.

More Insights

For more insights from the Envestnet Summit 2023 – Elevate, connect with us at RIASales@envestnet.com. We are committed to helping you capitalize on these insights, position your business for growth, and ultimately help your clients achieve an Intelligent Financial Life.

1 Cerulli: US RIA Marketplace 2022 (as of 2021)
2 Data as of 03/31/2023

Envestnet Summit - Elevate

Envestnet Summit 2023 – Elevate: April 26-27 in Denver

Envestnet Summit 2023 – Elevate kicks off on April 26 in Denver, and we couldn’t be more excited. We look forward to welcoming thousands of advisors from around the country—all joining us to elevate their practice by enabling the Intelligent Financial Life™ through the utilization of Envestnet’s connected ecosystem of tools.

6 Reasons to Attend Envestnet Summit 2023 – Elevate

From general sessions to keynotes and breakouts, Envestnet Elevate provides insights, training, and networking opportunities to help you elevate your practice. Here’s a closer look:

  • See how Envestnet can help you empower the Intelligent Financial Life for your clients
  • Get hands-on learning and training
  • Connect with your peers in person
  • Hear from top thought leaders
  • Learn about the latest industry trends
  • Explore the complete Envestnet ecosystem

A Dedicated RIA Track

We’re pleased to introduce a dedicated RIA Track that includes a Tamarac Deep Dive training, a Tamarac Roadmap update, and insights about the Power of Envestnet’s Ecosystem. This track also includes a variety of other sessions to help you learn more about industry trends and additional opportunities you can take advantage of as an Envestnet | Tamarac client.

Here’s a look at the Deep Dive sessions you’ll have access to:

  • Unlock our new Client Portal Experience
  • How to Incorporate Alternatives into Your Business at Scale
  • Determine if your practice is compliance fit
  • Learn how to run your quarter end more seamlessly
  • Get the latest updates on our Trading, Reporting, and CRM upgrades
  • Explore new ideas for managing client relationships

Pre-Summit Tamarac User Group: How to Optimize Tamarac to the Fullest

And lastly, our in-person client user groups are back! Meet with us on April 25 as we bring together users of the Tamarac suite to discuss workflows, features, and best practices. Members of our Tamarac Product team and our Client Success group will drive the discussion between users and leaders from a number of RIAs to share ideas and optimize Tamarac to its fullest.

Register Today for Envestnet Summit – 2023 Elevate on April 26-27 in Denver, CO

Check out our full Envestnet Elevate agenda here and register today. If you have questions, reach out to us at eventsteam@envestnet.com

We look forward to connecting with you in Denver!

Product Enhancements/Reporting/Trading

What’s New: Tamarac Reporting and Trading Updates Enhance Advisor Efficiency

Our Envestnet | Tamarac Reporting® and Trading® teams have been hard at work rolling out enhancements to our trading and reporting capabilities. For our February release, we’re excited to highlight the latest innovations that respond to the evolving needs of Registered Investment Advisors (RIAs) and, ultimately, the efficiency of your practice.

From Tamarac Reporting: Enhancements to Committed Capital and Bulk Reports

As we continue to expand your access to alternative investment strategies, we’ve enhanced our Committed Capital report. Here’s a look at what’s new:

Last Valuation Value Added as a New Column

Based on your feedback and the need to include the last valuation date for manual securities, you can add this information to the Committed Capital report. When you move the Last Valuation Value to the Selected columns field, you will also be able to incorporate a custom-formatted name.

Recallable Distributions Added

Based on your feedback, we learned that you wanted the flexibility to include additional options on the Committed Capital report. In this release, we’re adding Recallable Distributions as an option. You can see this change when you create or update all instances of the Committed Capital report.

Vintage Year Added to Available Group by Options

We know it’s essential for you to have an organized view of the details on the Committed Capital report. With this release, we’ve included the ability for you to group the Committed Capital report by Vintage Year.

On our Bulk Reports, here’s a look at what’s new:

New Column with Financial Instrument Global Identifier Added to 13F Bulk Report

Due to the recent SEC 13F report format change, we’ve added a column for the Financial Instrument Global Identifier with the header FIGI. This column is required when you submit your 13F report using the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) site. To ensure your report contains all the required data, you will need to add this column to your 13F bulk report template before submission.

From Tamarac Trading: Rebalanced Summary Report Updates

Here’s a look at what’s new from Tamarac Trading:

New Spreadsheet View Option

In our continuing efforts to improve the trade review experience for RIAs, we’ve updated the Rebalance Summary report to include a new Spreadsheet View option. This enhanced view allows you to review your accounts in a consolidated format, creating efficiencies in your trading workflow.

Previously, advisors used two main reports to review trades and their impact on an account or group: the Rebalance Summary and Trade Summary reports. The Rebalance Summary holistically showed initial and post-rebalance data, while the Trade Summary showed this information focused on the individual trades.

With the introduction of the new Spreadsheet View, you will find a view similar to the Trade Summary now incorporated into the Rebalance Summary. Within this view you can take the follow actions:

  • Review and edit trades grouped by any Category or level of your model
  • Create Quick Trades
  • Trade in $ or share amounts for Equities and ETFs
  • Select individual lots to trade
  • View rebalance messages
  • Place Trades on Hold
  • And much more

Learn More

At Envestnet | Tamarac, we are vested in helping you address the key challenges you face as you evolve and grow your business. Learn how our robust reporting and trading solutions can help you deliver the customized performance tools and resources you need. Visit Envestnet.com/RIA or connect with us at RIASales@envestnet.com.

Uncategorized

Explore the Power of Envestnet | Tamarac: Incorporate Alternatives into Your Business at Scale Webinar Recap

At a recent online webinar, “Incorporate Alternatives into Your Business at Scale,” our RIA Sales and Product teams focused on the alternatives asset class and how Envestnet | Tamarac can help you incorporate these types of assets into your business. Our webinar drew Registered Investment Advisors (RIAs) from around the country focused on expanding their suite of offerings to serve the evolving needs of their clients. Dan Miller, VP of Product at Tamarac, joined me for the event.

We’ve seen the popularity of alternatives grow in recent years as advisors look to diversify beyond traditional equity and fixed-income portfolios to other return drivers so they can help clients stay on track toward achieving their long-term investment goals. We believe alternatives can be a valuable component of today’s portfolio construction process, and our powerful technology platform supports every aspect of your alternatives business.

Here’s a recap of what our webinar covered:

About Envestnet: How we approach the marketplace

I opened the webinar by providing an overview of how Tamarac helps RIA navigate and understand the Envestnet Financial Wellness Ecosystem, serving as the hub that allows advisors access to our tools and technology. We then covered the Intelligent Financial Life™ that enables RIAs to take a holistic financial approach with their clients and how Tamarac helps them build their unique operating system.

Next, I reviewed how Tamarac’s unified platforms support advisors with a modular and open architecture. From Tamarac Reporting, Tamarac Trading, and Tamarac CRM, our core technology solutions, RIAs have access to our MoneyGuide financial planning suite, Tamarac Unified Managed Accounts, and so much more.

Tamarac Platform Demonstration: Supporting your alternatives business at scale

In a discussion on our Tamarac Reporting platform capabilities across alternatives, we covered how we can help you get the data you need and report on it with the flexibility to support your clients’ needs. Our Tamarac Reporting demo covered the following:

  • Manual Security Snapshot that offers you the customization you need, including control over the way assets are displayed and incorporated
  • Committed Capital Report that reflects recent enhancements, including recallable distributions, bulk reports, upgraded flow handling, grouping by vintage year, and the addition of last valuation value
  • Segregated IRR and TWR returns that support more detailed performance reporting conversations with clients
  • Alternatives reporting embedded in the broader Envestnet | Tamarac reporting ecosystem, with access to reports via PDFs or the Client Portal

Tamarac Platform Demonstration: Trading considerations in alternative assets

Miller started this portion of the webinar by underscoring the complexity that is a part of trading alternative strategies and how Tamarac supports your needs with flexible solutions. Our Tamarac Trading demo covered the following:

  • Model securities in Tamarac Models and how alternatives can be incorporated
  • How to capture different types of restricted securities within the trading platform
  • How to substitute relationships and placeholder holdings
  • The process for how to raise cash for Capital Calls
  • The value of the Rebalance Summary for mapping out asset allocations in the broader model view

Additional Alternative Offerings within the Envestnet Ecosystem: The Alternatives Exchange

We introduced the Alternatives Exchange, a relationship between Envestnet, UBS, and iCapital to provide the highest quality alternatives curation and breadth of offerings to independent advisors.

As a new technology-forward solution, the Alternatives Exchange allows advisors using the Envestnet and Tamarac platforms to seamlessly log into the iCapital platform via a single-sign-on link and find an exclusive, curated list of investment options sourced by UBS, as well as iCapital’s list of investment offerings.

Today, advisors have access to a variety of private market investment opportunities, including 45 funds from managers across geographies and strategies. We concluded the webinar by providing a demo of the Alternatives Exchange. As a part of this demo, we showed how advisors and their clients benefit from centralized document management with full transparency and comprehensive, streamlined reporting holistically integrated into the Envestnet and Tamarac platforms.

Learn More

If you missed our exclusive online webinar, “Incorporate Alternatives Into Your Business at Scale,” watch the replay here. To learn more about how you can access all the tools and technology we offer to support your alternatives business, connect with us at RIASales@Envestnet.com.

Alternative Investments may have complex terms and features that are not easily understood and are not suitable for all investors. You should conduct your own due diligence to ensure you understand the features of the product before investing. Envestnet and its affiliates do not provide research or product oversight on alternative investments. As with all investments, there is no assurance that alternative investment strategies will achieve their objectives or protect against losses.

Roadmap

A Preview of Tamarac’s 2023 Roadmap

At a recent online webinar, “A Look Ahead at the 2023 Tamarac Roadmap,” our RIA Sales team previewed the 2023 Envestnet | Tamarac tech roadmap and reviewed additional integrations and services. Hosted by Jessica Martin, RIA Senior Sales Engineer, the webinar featured tech updates and demos from Ryan Bamert and Dan Miller, VPs of Product at Tamarac. Our webinar drew Registered Investment Advisors (RIAs) from around the country focused on 2023 planning and the selection of the right wealth management technology to serve the evolving needs of their clients.

Martin opened the webinar by providing an overview of how Tamarac helps RIA navigate and understand the Envestnet Financial Wellness Ecosystem, serving as the hub that allows advisors to access all the tools and technology Envestnet offers. She discussed the Intelligent Financial Life that enables RIAs to take a holistic financial approach with end-clients and how Tamarac helps RIAs build their unique operating system based on firm and client needs.

Martin reviewed the tools and the ecosystem that’s been built over time to support RIAs:

  • Run an office more efficiently with integrated portfolio accounting, reporting, trading, and CRM
  • Add goals-based and cashflow-based financial planning through MoneyGuide and turn data into actual insights with analytics
  • Help optimize clients’ portfolios with unified managed accounts, tax overlay services, and direct indexing, along with new solutions to help address needs for credit, protected income, and trust services

Here’s a recap of what we covered on the Tamarac technology platform enhancements coming in 2023.

Focus on Tamarac Reporting

Bamert provided an overview of Tamarac Reporting, focused on the new and modernized user interface and true external API. He explained that the Tamarac makeover initiative focuses on improving the platform’s user interface and aligning with Envestnet’s new design standards. According to Bamert, by providing users with a more modern digital experience, Tamarac stands to perform competitively in an increasingly agile financial technology marketplace.

He covered the series of releases planned for 2023, including the first release covering a significant portion of the day-to-day use cases. The remainder of the releases will include billing, client reporting, custom documents, main set-up pages, and the Trading dashboard. Bamert then provided a demo of what RIAs can expect in the new Tamarac Reporting release and the new external API.

Focus on Tamarac Trading

Miller then joined the webinar for a walk-through of the roadmap for the Tamarac Trading platform and discussed updates that will be happening over the next year:

  • Deliver category restrictions as a new functionality so RIAs can restrict securities held in an account
  • Introduce a new streamlined Tamarac Trading workflow to consolidate workflow, streamline actions and provide access to a new rebalance summary report
  • Make the Tamarac Trading process more efficient for advisors, including giving more access to the proposal tools available inside the Envestnet ecosystem, supporting firms that only need a trading solution, and making additional updates to the rebalancing logic so that new trading operations are available to users

Miller concluded with a demo of what functionality advisors can expect and demonstrated the new streamlined workflow goals with examples of the efficiency and productivity gains that can be achieved through enhanced usability.

Focus on the new Client Portal

The discussion shifted back to Bamert to cover the new Envestnet Client Portal. He discussed Envestnet’s strategic vision and objectives for the new Client Portal, bringing together the foremost elements of Envestnet in a unified experience to help clients live an Intelligent Financial Life. According to Bamert, the new Client Portal:

  • Provides clients with centralized access to their investment, spending, and financial planning data with features and functionality to help drive engagement
  • Enhances the advisor/client relationship with a customizable experience tailored to help meet the needs of different client segments or specific individual investors
  • Empowers clients to potentially realize a higher level of financial wellness with detailed insights and intuitive workflows

Bamert concluded with a walk-through demo of the browser and the desktop versions of the new Client Portal, including what will be available in 2023. Finally, he reviewed the new Client Portal mobile app and what the experience will look like for your clients.

Focus on Managed Accounts

The discussion shifted back to Miller to review new functionality for managed accounts and the plan for providing Tamarac clients with better access to Envestnet’s capabilities. Miller explained that the enhancements are designed to help advisors create managed accounts as seamlessly as possible, given the data available through Tamarac.

He shared the new workflow for accessing managed accounts and making the bridge from the Tamarac platform to the Envestnet platform. Miller then walked through a demo highlighting the integration with Tamarac Reporting and the benefits that it will bring to RIA firms.

Focus on New Services and Integrations

Martin concluded the webinar by highlighting additional services and integrations available through Tamarac, including:

  • RIA Analytics – A holistic solution that provides industry, practice, and client insights ultimately aimed at providing your firm with actionable intelligence and customized analytics
  • Advisor Credit Exchange – A turnkey credit offering that enables advisors to quickly and easily generate automated credit proposals for their end-clients for a seamless handoff to lenders for a “white-glove” approval and origination experience
  • Alternatives Exchange – A relationship between Envestnet, UBS, and iCapital to provide the highest quality alternatives curation and breadth of offerings to independent advisors.

Learn More

If you missed our exclusive online webinar, “A Look Ahead at the 2023 Tamarac Roadmap,” watch the replay:

.btnBlue { color: #fff; background: #005f9e; display: inline-block; padding: 10px 20px; text-decoration: none; } .btnBlue:hover { color: #fff; background: #0074bd; text-decoration: none; } Watch the replay

To learn more about how you can access all the tools and technology we offer, connect with us at tamaracam@envestnet.com or RIASales@Envestnet.com.

The services and materials described herein are provided on an ‘as is’ and ‘as available’ basis, with all faults. The graphical illustrations herein do not represent client information or actual investments. Nothing contained in this presentation is intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Envestnet disclaims all warranties, express or implied, including, without limitation, warranties of merchantability or fitness for a particular purpose, title, non-infringement or compatibility. Envestnet makes no representation or warranties that access to and use of the internet while utilizing the services as described herein will be uninterrupted or error-free, or free of viruses, unauthorized code or other harmful components. Envestnet reserves the right to add to, change, or eliminate any of the services and/or service levels listed herein without prior notice to the advisor or the advisor’s home office.

Advisor Credit Exchange, LLC (“ACx”) provides access to lending solutions for advisors’ clients via the Envestnet Platform through Envestnet Asset Management’s affiliate, Envestnet Financial Technologies. Envestnet, Inc. has a financial interest and occupies board of director positions in ACx. Neither ACx nor Envestnet offers any loan products or makes any lending decisions. The funding and administration of all loans is undertaken by separate and unaffiliated financial institutions. This presentation should not be construed as a recommendation or endorsement of any particular product, service, bank or firm.

Alternative Investments may have complex terms and features that are not easily understood and are not suitable for all investors. You should conduct your own due diligence to ensure you understand the features of the product before investing. Envestnet and its affiliates do not provide research or product oversight on alternative investments. As with all investments, there is no assurance that alternative investment strategies will achieve their objectives or protect against losses.

This document refers to information products or services that may be in development and not yet available. Accordingly, nothing in this presentation should be construed as a representation or legal agreement by Envestnet to make available specific products or services (including, without limitation, concepts, systems or techniques.)

RIAs/Tax Planning

How RIAs Use Envestnet | Tamarac’s Tax Planning Tools for an Efficient Year End

As Registered Investment Advisors (RIAs) look to close out a tumultuous year, many are gearing up to start their year-end tax planning actions for clients. Many studies indicate that next to inflation, taxes remain the most significant drain on investment portfolios, as they can reduce returns by up to one percent per year.

Whether you’re looking to harvest security losses, ensure portfolios remain below realized gains targets, or track expected capital gain distributions from mutual funds, Envestnet | Tamarac’s suite of tax-planning tools can help you identify the next best action to take.

Tamarac Trading: Tax Management Tools

Here’s an overview of our most popular tax management options that RIAs turn to as part of their year-end planning:

  • Saved Searches to Find Tax Loss Opportunities. Tamarac Trading provides you with multiple “Saved Search” options to proactively find tax loss opportunities – either losses within a model, losses within an account, specific securities with losses, or any security with losses, as illustrated below:


  • Tax Loss Rebalance Types. After identifying portfolios with losses and setting a loss threshold for harvesting trades, Tamarac Trading can automate the harvesting process and either leave the proceeds in cash or buy underweight model positions to stay invested, including any substitute securities.

  • Tax Loss Directed Trades. Tamarac Trading also allows you to conduct a security-specific lot-level tax loss harvest and immediately reinvest the proceeds into your preferred substitute security.

  • Communication of Lot Level Trades to Custodians. Available for supported custodians, Tamarac Trading allows you to send specific lot trade instructions, providing more precise control over loss harvesting.

  • Wash Sale Tracking. With Tamarac Trading’s advanced wash sale tracking capabilities at individual and household levels, you can be confident that your year-end tax harvesting actions respect wash buy and sale restrictions.

  • Annual Capital Gains Budget. Setting a gains budget is a powerful way to monitor portfolios throughout the year and provide an early warning when a portfolio is approaching the agreed-upon budget. Tamarac Trading offers an easy way to view each portfolio’s % of “Tax Budget Used,” as illustrated below:

    For illustrative purposes only. Not based on actual client data.

Envestnet RIA Analytics Tool

Tracking mutual fund capital gains distributions can be time-consuming and challenging based on the need to manually gather data, research client holdings, and unify these sources of information to act across portfolios. Without your involvement in these trade management activities, your clients may face a tax burden.

With Envestnet’s RIA Analytics tool, you have a technology solution to aid in tracking capital gains distributions and help position them to mitigate tax burdens, reducing the manual and time-consuming research process. Here’s what our solution offers:

  • Targeted Projections. Our tool points out client positions and funds to watch based on indicators of potential gain distributions.

  • Focus on Fund-Reported Estimates. Our tool adds fund-reported estimates to narrow in on clients and accounts you should act on.

  • Clear Action Steps. Envestnet’s Insights Engine quickly identifies the clients, accounts, and products you should focus on to provide more value and deepen client relationships.

Learn More

You can learn more about the capital gains and tax tools in Envestnet’s RIA Analytics most recent webinar here. Our ecosystem of tools and tax management capabilities can help you provide more value to your clients and deliver financial wellness at scale. Visit tamaracinc.com or call us at 866-525-8811 to start a conversation.

The services and materials described herein are provided on an ‘as is’ and ‘as available’ basis, with all faults. The graphical illustrations herein do not represent client information or actual investments. Nothing contained in this presentation is intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Envestnet disclaims all warranties, express or implied, including, without limitation, warranties of merchantability or fitness for a particular purpose, title, non-infringement or compatibility. Envestnet makes no representation or warranties that access to and use of the internet while utilizing the services as described herein will be uninterrupted or error-free, or free of viruses, unauthorized code or other harmful components. Envestnet reserves the right to add to, change, or eliminate any of the services and/or service levels listed herein without prior notice to the advisor or the advisor’s home office.

Healthpilot/Medicare

Just in Time for Medicare’s Annual Enrollment Period

Research shows that healthcare costs are the number one concern among retirees1. For older Americans, this cost is often driven by the 20% not covered by Medicare. And because Medicare is complex and confusing, it can be a lot easier for clients and advisors to ignore the elephant in the room. But it’s time for your clients who are Medicare eligible to get back into the driver’s seat to take control of their healthcare costs and coverage details.

Medicare’s Annual Enrollment Period (AEP) runs each year between October 15, 2022 and December 7, 2022 (HINT: it’s almost over for the year). While this is an excellent opportunity for Medicare beneficiaries to review their coverage, statistics tell us2 that about 70% of these people don’t take the time to review their current plan to check in on what may have changed for them during the year in terms of their health or what the next year will bring regarding coverage changes to their plan. Like employer and open market plans, coverage details change each year, and these changes can often be quite impactful.

As a financial advisor, you spend valuable time crafting financial plans with your clients so they can focus on enjoying their retirement and, ideally, not spend time worrying. Unfortunately, in the world we live in today, healthcare costs are skyrocketing at an unprecedented rate, making it hard not to worry. Clients look to their financial advisors for guidance around healthcare, specifically Medicare. Still, many of them find that their advisors may not feel comfortable talking about Medicare or often don’t have a solution to provide. Spectrum’s 2022 report3 showed that over 65% of clients seek guidance around health insurance from their advisors, but only 4% of advisors provide this support.

Here are a few tips to bring Medicare into your financial planning conversations.

Start with their financial goals.

As their trusted advisors, you likely know much about your client’s goals. Just as new parents want to save for college, seniors may want to retire, leave an inheritance, travel, or get the best care as they age. Discussing your client’s goals is a good time to bring up Medicare. Let your clients know that achieving their goals requires successfully managing their healthcare costs by finding the right Medicare plan.

Then, chat about their current insurance.

Americans spend hundreds of billions of dollars on Medicare plans every year4. No one wants to pay extra for insurance, but everyone wants to be properly covered.

Ask how they feel about their current healthcare coverage. Do they know how much they pay out of pocket for things like premiums, co-pays, and deductibles? Make it clear that you’re not asking about their medical history but simply gathering facts to better understand their annual healthcare costs, as you would with any other expense.

It’s all right if they don’t know details like their maximum out-of-pocket cost. You’re introducing healthcare and Medicare coverage as a topic to include in this and future conversations. As you continue your relationship, these discussions will increase their confidence in your ability to help them manage Medicare costs.

Lastly, introduce them to a new Medicare solution available through the Envestnet Healthcare Exchange powered by Healthpilot.

You don’t have to know Medicare through and through– you know your clients, and that’s enough. Healthpilot is an Envestnet | Tamarac trusted partner and can be the Medicare resource your client has been looking for. By introducing your client to Healthpilot, they can quickly see which Medicare plan fits their specific needs after answering just a few questions. Do they need easy-to-understand resources so they can learn more about Medicare (like what exactly is the difference between Medicare Supplement Insurance , Medicare Advantage Plans, and Part D Prescription Drug Plans)? Or maybe even take a step further back to get more comfortable with Original Medicare (Part A and Part B) and what it won’t cover.

Use Tamarac’s new Single Sign On feature to visit Healthpilot’s Financial Advisor Portal. You can easily send your clients a referral email to visit Healthpilot to run their Medicare checkup. By using the Financial Advisor Portal, you can also keep track of your client’s status with Healthpilot to see if they enroll and even how much they may expect to pay next year.

Sometimes we find that Financial Advisors would like a nice, clean link to send their clients and may not want to stay very involved with the Medicare decisions. If this speaks to you more, you can provide them with a direct link to Healthpilot: Healthpilot.com/Tamarac.

Here’s the last thing for today…

The Annual Enrollment Period is one of the few times all Medicare users can make essential adjustments to their coverage. This is over on December 7, 2022. So, whether you’d like to visit the Financial Advisor Portal or want to share that direct link—your clients need to be reminded of this important time of year and take control of their Medicare coverage. Share Healthpilot with your clients: Healthpilot.com/Tamarac.

If you’d like to chat with someone at Healthpilot, feel free to set up a quick meeting by Scheduling Now.

1 https://www.edwardjones.com/sites/default/files/acquiadam/2021-01/Edward-Jones-4-Pillars-US-report.pdf
2 https://www.kff.org/medicare/issue-brief/a-relatively-small-share-of-medicare-beneficiaries-compared-plans-during-a-recent-open-enrollment-period/
3 https://spectrem.com/Content_Product/Wealthy-Investor-Series-Sources-Investors-Go-To-For-Information.aspx
4 https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/NHE-Fact-Sheet

Through a partnership with HealthPilot, Envestnet enables access to supplemental healthcare and Medicare education and enrollment solutions for Medicare eligible clients. Envestnet, Inc., has a financial interest in HealthPilot.

The information, analysis, and opinions expressed herein are for general information only. Nothing contained in this document is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type.

Neither Envestnet nor HealthPilot provide medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition.

Healthpilot is not connected with or endorsed by the U.S. government or the federal Medicare program. Healthpilot.com is owned and operated by Healthpilot Technologies LLC, a licensed health insurance agency, also doing business as Healthpilot Insurance Services in the state of California. 2022-180

Direct Indexing

Opportunity in a Market Downturn: Why Now May Be the Time to Consider Direct Indexing

In our conversations with Registered Investment Advisors (RIAs), we frequently talk about the problem the bull market created: ETFs and passive mutual funds have dominated the last decade as the vehicles of choice for advisors looking for low-cost beta.

As US equity markets have charged forward, it’s been a win for you and your clients. However, while larger account balances are a good problem, they create challenges for RIAs attempting to build client wealth in the most tax-efficient way. As client accounts have grown with just a few passive holdings, the ability to tax loss harvest has been reduced to nothing.

With the market’s recent volatility, now may be a good time to review accounts for tax loss harvesting opportunities. But what to do with the proceeds as you wait out the wash sale period is open to debate. Do you leave the proceeds in cash, buy an alternative ETF, or look for a better option to consider?

The Potential Solution: Direct Indexing with Envestnet | PMC Quantitative Portfolios

Direct indexing has been available for years, and many RIAs use it to offer greater tax efficiency for their more sophisticated clients. Did you know that direct indexing strategies are also available for accounts with balances as low as $60,000?

Our Envestnet | PMC Quantitative Portfolios are custom direct indexing portfolios that can hold your existing ETF positions with cost basis issues while purchasing individual securities around the legacy ETF holdings. By moving your client’s account into a PMC Quantitative Portfolio as you tax loss harvest, you not only capture the loss while keeping your client exposed to the market today, but you also position the portfolio to take advantage of any tax loss opportunities that may come tomorrow.

Even when the market is up in aggregate, look at the opportunity for tax loss harvesting at the individual security level.

Learn More

Our PMC Quantitative Portfolios can be combined into one account while you consider existing holdings, resulting in a customized portfolio for your clients and a scalable solution for you. To learn more about incorporating direct indexing into your practice, connect with our Envestnet | Tamarac RIA Development team at RIASales@Envestnet.com or check our resource landing page at https://www.tamaracinc.com/unified-managed-accounts/.

Direct indexing strategies have the risk of not closely track the performance of the underlying index they seek to replicate. While attempting to track an index, passive investments often do not consider a company’s profitability, financial health, or growth potential in their investment selection criteria.