At Envestnet | Tamarac®, we proudly partner with best-in-class industry leaders to support your ever-changing business needs. In our blog series “Partner Power,” we acknowledge the immense value our partners provide. Here we highlight another outstanding partner relationship that continues to expand and offer you a more unified advice platform.

Our Newest Partner: RIA Analytics

Our integration with RIA Analytics has been a huge win for successful advisors. Launched in November 2019, the integration connects our Tamarac ecosystem with RIA Analytics to provide you with business data and competitive intelligence that can help you drive your business forward. Especially in choppy markets, advisors are more interested in metrics than ever before. From concerns about outflows to changing client behaviors, analytics give you the insights you need.

Whether you’re a growing or established advisory practice, it can be challenging to find the time and resources to piece together the data and analytics you need. RIA Analytics offers you:

  • Valuable time savings when you need to pull data and create monthly reporting
  • Easy access to your analytics and comparisons to peers
  • Insights on how to use the data to enhance client conversations and drive better outcomes
  • Ease of use with your choice of three ways to engage, including traditional, customized or curated

Here are three reasons why RIA Analytics is making a real difference for successful advisors:

1. Deep knowledge of practice insights

With RIA Analytics, advisors now have access to more client data to help make better business decisions. Whether it’s the basics of what’s happening with the flows in and out of your business or how much of your growth is from organic versus new business, we can provide the insights you need.

2. Comparison to your peers

Leveraging data from the Tamarac ecosystem, we can help you see how your practice compares against peers. How does your business look compared to similar-type RIAs? How is your business growing compared to other RIAs? How do your fees look compared to your peer group? What types of investments are you using compared to your peers? Answers to these questions and more are available through RIA Analytics.

In addition, our weekly “RIA Pulse Report” provides timely insights into advisors’ investment activities, risk appetite, and other key trends. Especially during periods of market volatility, our look at short-term trends can help you compare your data to your peer group and understand how you are reacting to the current markets.

3. Actionable insights that can lead to better client outcomes

For many advisors, while they value the access to rich data, they frequently ask: What do I do with it all? We understand this challenge, and we’ve got a solution. Because data is what we do best, the RIA Analytics team is rolling out a new capability that surfaces “Opportunities to Engage.” It provides you with actionable next steps and ideas for how the insights can lead to meaningful client conversations.

More Integrations to Enrich

As we continue to enhance RIA Analytics, based on feedback from our advisor users, these new integrations will be welcome news:

  • CRM integration with Salesforce. Takes CRM-type activity and ties it back to core analytics, answering questions like: How frequently are you contacting your clients? Am I spending my time with my largest revenue clients? What clients need a quarterly review?
  • Accounting integration with QuickBooks. With this accounting integration, you can start building a database that answers questions like: How does your P&L look? How does your spending look compared to your peers? How is your business spend on tangible versus intangible assets trending?
  • Integration with MoneyGuide. The integration with MoneyGuide gives you deeper insights into the financial planning process. How many clients have financial plans, and what are some of the key attributes of the plans? Are some plans only partially complete? Do other plans need a new review? This integration is especially valuable during periods of market volatility as you help clients focus on their long-term goals.

Learn More

Learn more about how you can join us in partnering with the best in the industry. For more details about the Tamarac platform and RIA Analytics, visit www.tamaracinc.com or give us a call at 866-525-8811.

Written by Todd Buck

Todd Buck is Head of Sales and Service for Envestnet Analytics. He is responsible for managing the sales efforts of the Analytics offerings primarily focused on Asset Managers, Enterprises (Broker Dealers, Banks, and RIAs), Financial Advisors, and other financial institutions.

Leave a Reply

%d bloggers like this: