By Dan Miller
Our Envestnet | Tamarac Reporting® and Trading® teams have been hard at work rolling out enhancements to our trading and reporting capabilities. For our latest 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: New Compliance Reporting Features and Enhancements to Position Performance Reporting
New Compliance ADV Reporting Makes Update Process Easier
We know RIAs need more to support their compliance reporting efforts. In this release, we’re introducing new reporting features to help you complete your compliance reporting with greater ease. By introducing more automation into the process, we’re making the annual process of submitting Form ADV easier and more efficient. To support RIAs in the Form ADV update process, our new reports show data points that reflect data required on the form.
You can now review your client accounts and sort by:
- Book of Business. See the number of accounts, households, and managed value for your chosen account set.
- Client Types. Review the number of households and managed value for each client type category.
- Client Census. Compare the number of foreign and domestic households.
- Discretion. See the number of accounts and managed value for the accounts marked as “Discretionary” in account settings.
- Custody. Compare the number of households and accounts by the status of the “Custody” setting.
- Custodians. Compare the custodians and managed value for the account set you’re viewing.
- Wrap Program. Compare the number of accounts and managed value by the “Wrap Program” field that appears in account settings.
- Saved Searches. View any saved searches you’ve created to find Form ADV-related data.
- Holdings by Form ADV Category Type. View a list of total assets by category type.
In addition to these enhancements to help you streamline the Form ADV update process, our new reporting also allows you to customize your data setup and bulk data. We’ve added fields so you can set up account, household, and security category data in a way that supports Form ADV questions. And to help you with data setup, we’ve added Form ADV-related fields to bulk reports and bulk data uploads.
New Attribution Columns on Position Performance Report Give More Data
We know RIAs want more information to support attribution analysis so that they can see the impact of investment decisions on the returns in client portfolios. With this release, we’re adding two new columns to the Position Performance report to help with your analysis:
- Contribution. This field shows how much a specific security or investment contributed to the portfolio’s overall performance, regardless of how much is held.
- Average Weight. You can use “Average Weight” alongside “Contribution” to compare how much a position contributed to the overall portfolio compared to how much of the portfolio is made up of that security.
From Tamarac Trading: Beta Rebalance Summary Report Updates
Beta Version of the Rebalance Summary Report Delivers More Functionality
On the Tamarac Trading side, we’re committed to a multi-release cycle approach so that we can get more features out to you faster. With this release, we’re introducing new beta versions of our Rebalance and Rebalance Summary pages, valuable and necessary parts of the trading workflow process. Here’s a look at some of our latest updates.
- Select the Lots You Want to Trade. On the current version of our Trade Summary, you can select specific lots of a security to sell. We’re bringing this feature to the Rebalance Summary report with this release. Now, when generating a custom strategy, you can choose “Sell Lots” and easily access the lot information for the holding. You can select lots to sell, define a specific number and lot to sell, or sell all of a specific lot.
- Customize Rebalance Summary Reports with Improved View Options. As we continue to add features to make the Rebalance Summary report easier to read, with more filtering features to help you drill down to the data you want to see, we’ve added new features to improve how you group and filter the report. From our “View Tier Group” and “Grid Display,” you can either expand or collapse widgets, group by model, security type, asset class, and other security categories, and establish default report settings that will apply to other Rebalance Summary reports you view.
- Add Reason for Trade Note. You can now add a reason for a specific trade on the Rebalance Summary report. A reason for trade note can be logged with an order during a rebalance or trade. These notes are typically added during the rebalance review process and allow you to add information about the trade, such as trade instructions, background information, or the reason for that specific trade.
Beta Rebalance Page Updates Show More
We’ve also made some updates to our Beta Rebalance pages to give you access to more data. If you have a custodian integration, you can now see updated custodian values on the beta version of the Rebalance page. With this integration, you can use new columns and the “Retrieve Custodian Values” action to see current values as reported by the custodian. This information can help you troubleshoot trade issues or verify values. And you can view data in a variety of ways depending on your needs.
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.