With the start of a new year, many successful advisors think about planning for a change, and the transition from a wirehouse model to an independent model is frequently top of mind. For many, this decision is months in the making, as they work through the details to navigate the path forward. But what do breakaway advisors need to think about when it comes to decisions on their tech stack?

At Envestnet | Tamarac®, we understand how much thought needs to go into your decision to form your own business. That’s because we’ve been supporting RIAs for more than 20 years, with much of our expertise dedicated to helping breakaway advisors get up and running. We are committed to helping you on the journey to independence with guidance and best practices, state-of-the-art tech tools, and competitive pricing options.  

Here are three reasons why breakaway advisors choose the Envestnet | Tamarac technology platform to support the entirety of their clients’ financial needs — in a way that allows them to get their business up-and-running as quickly as possible. 

1.  Manage day-to-day business operations with a deeply integrated platform

Tamarac offers breakaway advisors a modular, open-architecture experience to help run their business with greater efficiency and scale. For starters, we work with all the top custodians to ensure a seamless experience. Many successful breakaway firms find that our tools are best used in the full-suite iteration. Here’s a closer look at Tamarac Reporting, Tamarac Trading, and Tamarac CRM. With a well-designed tech stack configured to your needs, you can drive your business forward and connect more deeply with your clients.

  • Tamarac Reporting. Our award-winning reporting capabilities enable your firm to easily generate elegant reports focused on what matters the most to you and your clients. As the central location for your clients’ assets, we provide advisor, operations, and client portals with interactive and up-to-date data, accessible from anywhere.
  • Tamarac Trading. With our premier portfolio rebalancing and trading application, you can build scale by implementing your best thinking across your entire client base, both quickly and efficiently.
  • Tamarac CRM. Our hub for client data is built as a firm-level cloud-based application explicitly designed for RIAs. Because the CRM is integrated with a broad range of data resources, it can provide a differentiated experience.

2.  Deepen client engagement with Envestnet | MoneyGuide

We believe financial planning is the gateway to financial wellness. To help you thrive, we recommend optimizing Tamarac with the power of MoneyGuide, our financial planning software. Through MoneyGuide, you can help clients create, implement, and maintain an investment strategy that aligns with their lifetime goals.

MoneyGuide enables you to:

  • Interactively demonstrate for clients – remotely and in real-time – the effects that possible portfolio moves might have on their portfolios over the long term
  • Help clients understand what’s happening in the markets by harnessing the power of modern financial planning strategies
  • Strengthen engagement and promote productive financial conversations focused on goals

3.  Streamline onboarding with our “Breakaway Advisor” program

We understand all the issues facing a breakaway advisor, especially when starting to get your new business off the ground in the first year. Given our experience working with breakaway advisors over the years, we have found one of the biggest challenges is the onboarding process.

Our Breakaway Advisor Program offers an enhanced onboarding experience that includes:

  • An onboarding questionnaire to identify your top priorities
  • Supplemental online training resources accessible on your schedule
  • Access to our platform within 30 days to help you get started right away
  • CRM contact upload at the start
  • Discounted Consulting Services pricing within the first 18 months of the start date

Our dedicated onboarding team is committed to your success. We’re here to work with you every step of the way and support you with the technology tools and resources you need. When you deploy our broader suite of solutions, you can build a deeper connection with your clients, making it easier to work together.

Learn More

Learn more about our Breakaway Advisor Program and all the ways Envestnet |Tamarac is committed to supporting your business through all stages of development. Through our innovation and service culture, we can provide you with the integrated platform you need to succeed. Visit www.tamaracinc.com or give us a call at 866-525-8811.

Written by Jessica Martin

Jessica Martin has been with Envestnet | Tamarac for over 10 years and is Vice President of Sales Engineering. Jessica is responsible for helping users understand and implement best practices, assist RIAs to experience the greatest benefits from Tamarac’s comprehensive technology platform and to enable firms to run a more profitable practice.

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