Tamarac

What Tamarac is

Envestnet Tamarac provides trading, reporting, billing, and CRM tools for wealth management practices, with independent registered investment advisors (RIAs) named as its audience. Tamarac Trading supports portfolio rebalancing, tax-loss harvesting, model management, cash monitoring, and trading-only workflows. It can automate model portfolio construction and management, monitor trading triggers, execute trades through brokers, and reconcile prior-day trades.

Tamarac Reporting provides portfolio analysis, flexible reporting, and billing capabilities. Its client portal gives clients a customizable, holistic view of their finances. Tamarac CRM is web-based and integrates with Tamarac Reporting and Trading, Microsoft 365, Outlook, and MoneyGuide. Tamarac’s External API can provide client, household, group, account, holdings, and document data; access to its documentation and credentials requires Envestnet Developer Portal credentials and discussion with an account manager. Envestnet’s integration directory lists partners including Redtail, Salesforce, Wealthbox, Practifi, Nitrogen, and Docupace. The product is available on web, iOS, and Android, and covers multiple asset classes, including alternatives. Its listed analysis capabilities include performance reporting, allocation analysis, risk analysis, and tax-lot tracking. Pricing is on request.

Who it suits

Tamarac is aimed at independent registered investment advisors seeking trading, reporting, billing, and CRM tools. It may suit practices that want portfolio workflows alongside client-facing finance views and web-based relationship management.

Limits

Tamarac pricing is on request. For Tamarac Unified Managed Accounts, reporting integration is one-way: changes to Tamarac UMAs must be made on Envestnet, and changes to Tamarac sleeve accounts are not sent back.

Getting started

1. Visit https://www.envestnet.com/tamarac.
2. Contact Envestnet to request pricing.
3. Use the web, iOS, or Android platform.
4. For External API documentation and credentials, obtain Envestnet Developer Portal credentials and discuss access with an account manager.
5. Consult Envestnet’s Support & Training Center for product documentation and release information.

Verdict

Consider Tamarac if your RIA practice needs trading workflows alongside reporting, billing, and CRM functions. Its mobile and web platforms, client portal, and listed CRM integrations extend those capabilities. Contact Envestnet for pricing, and note that reporting integration for Tamarac Unified Managed Accounts is one-way.