Even in these times of uncertainty, our Envestnet | Tamarac Reporting® and Trading® teams continue to maintain their focus on enhancements and innovations to help meet the needs of advisors and their clients. For our August release, we are excited to introduce eight new improvements to our Reporting and Trading capabilities, along with performance enhancements to improve speed and reliability. In our regular “What’s New from Tamarac” series, we highlight the latest innovations that support your relationships with clients and, ultimately, their achievement of financial wellness.

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

1. New Options to Control PDF Chart Image Quality

With more client communication touchpoints in use today, we have expanded your options in the creation of PDF reports. Our new image resolution option in the general settings section of Tamarac Reporting allows you to control the image quality of charts and graphs in your PDF reports. Select from standard, professional, or presentation resolution to present reports that are easy for your clients to view and in a format that makes sense.

2. Condensed and Clearer Billing Statements

Although clients prefer simple invoicing, generating a streamlined invoice becomes more difficult for advisors as billing groups and definitions become ever more complex. To help you position yourself as a trusted partner who provides transparency, we have clarified billing invoices, making it easier for you to show your clients what they are billed for, how their fees are calculated, and where fee payments originated. You can now condense and clarify the billing definition section on your invoices by:

  • Adding a description to the billing definition section to provide greater clarity
  • Condensing billing definition sections to provide a simpler and more streamlined invoice
  • Clearly showing the amount due so clients can see what they are paying each billing cycle

3. Improved Consistency on Holdings and Asset Allocation Reports

As part of our ongoing commitment to improving your reporting experience, we have made changes to the Holdings and Asset Allocations reports that give you:

  • Improved consistency, speed, and accuracy with some under-the-hood changes
  • A de-cluttered asset allocation report that removes unnecessary fields
  • More bulk holdings data to enhance reporting

4. More Consistent Time Series Composites Calculations

We have adjusted our composites engine to ensure that Time Series Composites returns match all other returns throughout the Tamarac platform. This change will not impact composites you have already generated, and all historical composite calculations you have in place will remain unchanged.

5. New Settings and Data Points in Rebalance Summary PDF Reports

Our Rebalance Summary Charts PDF report now offers you the ability to create a visual to show proposed trades, grouped by the category you choose. This enhancement can help you with trade analysis and demonstrate to clients the value of your big-picture perspective. We have also added a “group by” option that you can use in Target Allocations reports to compare an account’s assigned target allocation to initial and post-rebalance data. In addition, when you open the Rebalance Summary in an account, you now see color-coded trade actions that can help you skim long reports and quickly find specific trade actions. You can also add color to trade actions in the Rebalance Summary Details PDF for improved scanning and analysis.

6. Restriction Override Workflow Improvements

To help you better manage security restriction overrides, we have made some changes. When you send logged orders back to the Trade List page, any restriction override details will remain with that trade. And, you can quickly review information on the restriction and approval notes by clicking “view details” in the Restriction Override column.

7. New Pershing Equity Trading IBD Trade File Available

We have added a new trade file, the Pershing Equity Trading IBD trade file. With this enhancement, you have additional options for broker-dealers trading equities.

8. FIX Flyer Broker Saved Search Filters for Equities and Mutual Funds

With our FIX Flyer integration, you can execute trades with multiple brokers, so auditing and analyzing those trades, accounts, and account settings can depend on the broker assigned to the account for FIX Flyer trading. Now we have made this analysis easier by adding two new saved search filters: FIX Flyer Mutual Fund Broker and FIX Flyer Equity Broker. With these filters, auditing accounts and account settings or finding accounts that do not have an assigned broker becomes that much easier.

More Performance Enhancements to Improve Speed and Reliability

As part of our August release, we have made significant enhancements under the Tamarac platform hood to improve speed and reliability. These enhancements include:

  • Shortening the full sync duration for firms who use both Tamarac Trading and Reporting
  • Migrating the upload services from legacy hardware onto new service-specific clusters
  • Shifting to access Schwab data through a more modern API to ensure we deliver the quality and consistency of data you need
  • Transitioning to S3 storage for our MoneyGuide document vault integration to give you more availability and durability
  • Migrating all of Tamarac’s storage to a new, faster storage area network (SAN) as we maintain our focus on the highest levels of site security

Learn More

Stay tuned for regular “What’s New” updates from Tamarac, as we continue to innovate and enhance the services you provide to your clients. Learn how our robust reporting and trading solutions 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.

Written by Ryan Bamert

Ryan Bamert is the Vice President of Product Management for Tamarac Reporting at Envestnet | Tamarac.