As you help your clients focus on the right investment strategies, you need to be equally thoughtful about smart tax strategies. With the right tax budgeting tools, you can provide the guidance clients need to ease their tax burden. Our Envestnet | Tamarac Trading® Team is excited to introduce a new way to help you manage capital gains in taxable accounts: Tamarac Annual Capital Gains Tax Budget.

An Enhanced Way to Analyze Capital Gains

As part of our latest tech release, we’re providing a powerful new tool to compare incurred and anticipated capital gains to a budgeted annual capital gains amount. You’ll now have the insights you need to plan tax-appropriate trades and can:

  • Set annual maximum capital gains amounts for accounts or groups
  • Proactively track the amount of gains an account or group has incurred year to date
  • See a rebalance warning when a trade would incur capital gains that exceed the annual budgeted amount

When setting an annual maximum capital gain budget, you can do so in dollars, percent of total rebalancing group, or account value. In addition to the new Annual Capital Gains Tax Budget setting, you can use the existing Short-term Capital Gains Tax Rate and Long-term Capital Gains Tax Rate fields to estimate the year-to-date taxes incurred by short-term and long-term gains and by the current rebalance.

You can also compare the annual budgeted gains with the estimated gains and the year-to-date gains reported daily from Tamarac Reporting, helping you track how much of the budget remains. What’s more, you can use our tools to track long- and short-term gains together, individually, or as capital gains.

Here’s a closer look at how the tool works:

More Reporting & Trading Enhancements to Meet Your Needs

Take a look at more enhancements that are a part of our latest tech release — all designed to support your relationships with clients and, ultimately, your client’s achievement of financial wellness.

Apply Security Substitutes at the Account Level. Security substitutes let you designate securities to purchase or sell in place of the original parent security. Now you can add account-level security substitutes that give you the flexibility to customize security substitutes for individual accounts as is suitable for your client.

Include Underlying Account Securities in Rebalance Workflow Bulk Data. When you’re auditing trades, our Account Security Information bulk report shows you critical information about what groups hold which securities. As part of this release, you can now see securities held in underlying accounts when you run this bulk report on Rebalance workflow pages — even if you only select groups.

Audit Trade Orders Created Today in Bulk. The Orders bulk report provides valuable insight into the status of trade orders, allowing you to audit and reconcile in bulk daily. Now you can limit the output of the Orders bulk report to the current trade date, giving you a clear view of what orders were created during the current business day.

Group by Security Level Model on Rebalance Summary PDF Reports. When rebalancing portfolios, you often want to compare the recommended trades’ outcome to the model allocations assigned to an account. But what if all your team members do not have access to Tamarac Trading to review the impact of rebalancing? As part of this release, we’ve added a new way for team members to audit accounts that may be out of tolerance. You’ll find it in Grouping by security level model on the Rebalance Summary Charts Report and Rebalance Summary Details Report.

Audit the MoneyGuide Last Import Date in Bulk. When you use the MoneyGuide integration function, the Last Import Date column on the Households page helps you keep the probability of success updated in the Tamarac platform. In this release, we’ve added the Last Import Date column to the Household Information bulk report, allowing you the flexibility to export MoneyGuide data and audit as many Households as you want.

Include More Files in PDF Batches. To improve the efficiency of your quarter-end reporting workflow, we’ve expanded the number of PDF reports you can include in a ZIP file. Now you can include up to a maximum of 500 reports in each ZIP file.

And as part of our ongoing effort to improve speed and reliability on the Tamarac platform, we continue to make enhancements under the hood. We expect you will notice the faster loading and response times.

Learn More

As we continue to innovate and enhance the services you provide to your clients, stay tuned for regular “What’s New” updates from Tamarac. 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.

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