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Envestnet | Tamarac from Envestnet
Client onboarding, document management, and performance reporting capabilities allow financial advisors to efficiently manage client relationships and streamline operations in one platform.
Product analysis by function
Client Onboarding Platforms for Client Service and Operations
Digital solutions for streamlining new client acquisition, including electronic account opening, automated KYC (Know Your Client) processes, and digital signature capabilities.
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User Experience & Interface
(8 Yes /8 Known /11 Possible features)
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Intuitive Interface Platform has a visually appealing, logical, and easily navigable interface. |
Tamarac is marketed as having a logical, efficient interface to streamline operations for advisors. | |
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Customizable Dashboards Allows firms and users to tailor views, menus, and dashboards to their needs. |
Customization of dashboards and views is a highlighted feature in Tamarac's platform materials. | |
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Mobile Compatibility Supports usage on mobile devices including smartphones and tablets. |
Tamarac offers mobile compatibility through dedicated mobile access for advisors. | |
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Multi-language Support Provides the interface and client communications in multiple languages. |
No information available | |
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Accessibility Features Compliance with accessibility standards (e.g., WCAG), enabling use by all abilities. |
No information available | |
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Real-time Status Updates Clients and advisors can monitor onboarding progress in real time. |
Real-time progress updates are standard for onboarding modules in Tamarac. | |
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Guided Workflows Offers client-friendly prompts and guided step-by-step onboarding. |
Tamarac's onboarding workflows are described as guided and client-friendly. | |
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Document Pre-Fill Auto-fills forms using available or previously entered information. |
Auto-fill and pre-fill of forms are described in product documentation. | |
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Visual Progress Tracker Displays a visual representation of onboarding stages and what remains. |
No information available | |
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Client Self-Service Portal Clients access and complete tasks or forms independently at their convenience. |
Self-service onboarding and client portals are called out in product brochures. | |
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Multi-User Support Allows multiple parties (e.g., joint account holders, advisors) to collaborate on onboarding. |
Document management allows multi-user interactions; advisor/client collaboration is enabled. |
Data Collection & Processing
(6 Yes /6 Known /10 Possible features)
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Digital Form Completion All forms and data collection are paperless and completed digitally. |
Tamarac enables full digital onboarding and e-form capabilities. | |
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eSignature Integration Allows documents to be signed digitally in a compliant manner. |
eSignature support is highlighted throughout Tamarac onboarding workflow info. | |
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Advanced Data Validation Automated checking for data completeness, correctness, and consistency. |
Validation of data entry is mentioned as an automation in onboarding features. | |
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ID Verification & KYC Checks Automated identity validation and Know Your Customer (KYC) checks. |
KYC and ID verification integrations are provided via Tamarac's onboarding process. | |
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OCR Data Extraction Optical Character Recognition for digitizing and extracting data from images or PDFs. |
No information available | |
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Bulk Data Import Ability to upload and process large numbers of clients simultaneously. |
Bulk upload/import of client data is available for advisor efficiency. | |
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Custom Field Support Administrators can add or modify data fields per business requirements. |
No information available | |
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Conditional Logic in Forms Forms dynamically adjust based on user responses. |
No information available | |
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Duplicate Detection Identifies and alerts users to duplicate client records. |
No information available | |
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Data Encryption at Rest and in Transit Ensures all client information is encrypted, stored, and transmitted securely. |
Tamarac emphasizes secure document management and information storage. |
Integration & Interoperability
(8 Yes /8 Known /8 Possible features)
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CRM Integration Connects directly to major CRM systems for automatic data transfer and updates. |
Tamarac integrates directly with major CRM systems including Salesforce. | |
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Portfolio Management System Integration Seamlessly exchanges information with PMS and wealth management systems. |
Portfolio management system integration is native to Tamarac, as it is part of the Envestnet ecosystem. | |
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Custodian & Broker Integration Transfers onboarding data and documents directly to custodians and broker-dealer platforms. |
Integration with major custodians and broker-dealers is a core onboarding feature. | |
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API Availability Provides robust APIs for custom integrations. |
API documentation is referenced for integrations in Tamarac's support materials. | |
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Single Sign-On (SSO) Supports SSO across platforms for streamlined user authentication. |
Supports SSO for enterprise clients. | |
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Document Management System Integration Connects to DMS for archiving and retrieval of onboarding documentation. |
Document management system (DMS) integration is supported. | |
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Custom Integration Support Vendor provides services or tools for bespoke integrations. |
Custom/bespoke integration support is mentioned as part of onboarding and implementation services. | |
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Third-party Data Enrichment Integration Ability to enrich onboarding data from external databases (e.g., credit bureaus, AML). |
Third-party enrichment (e.g. credit checks, AML) integrations featured in onboarding guides. |
Compliance & Regulatory Controls
(6 Yes /6 Known /7 Possible features)
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Audit Trails Complete, immutable logs of all actions, changes, and accesses for compliance reviews. |
Audit trails are part of compliance-oriented document management. | |
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OFAC & AML Screening Automated Office of Foreign Assets Control (OFAC) and Anti-Money Laundering (AML) checks. |
OFAC and AML screening are built into onboarding processes. | |
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Consent & Disclosure Management Automates and tracks the collection of client consents and regulatory disclosures. |
Consent and disclosure management is automated and tracked per regulations. | |
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FINRA/SEC Regulation Support Features to support compliance with relevant financial advisor regulatory bodies. |
Regulatory support for SEC, FINRA compliance is called out in marketing, especially for US advisors. | |
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Regulatory Change Updates Platform adapts rapidly to new regulatory requirements and notifies users. |
Platform is updated for regulatory changes and notifies users to remain in compliance. | |
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Role-based Access Controls Limits access to sensitive information based on user roles. |
Role-based access controls are a standard compliance and security feature. | |
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Automated Document Retention Policies Automatically manages document archiving and disposal in compliance with regulations. |
No information available |
Automation & Workflow Management
(6 Yes /6 Known /9 Possible features)
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Automated Task Assignment Distributes onboarding tasks to team members based on rules or workload. |
Task management and automated assignments are featured in workflow documentation. | |
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Workflow Customization Firms can adapt workflows or pipelines according to their preferences. |
Custom workflow options and pipeline configuration available. | |
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Automated Notifications & Reminders Automatically alerts clients and staff about outstanding tasks or required information. |
Automated notifications and reminders (to client/advisor) are built-in. | |
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Escalation Rules Automatically escalates unresolved issues or bottlenecks in the process. |
No information available | |
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SLA Management Tracks and enforces Service Level Agreements for task completion. |
No information available | |
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Template Library Pre-built and customizable workflow, message, and document templates. |
Template libraries (client forms, workflows) are described in support resources. | |
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Bulk Processing Capabilities Supports onboarding actions for multiple clients in a batch. |
Bulk/batch upload and processing is offered to speed onboarding of client groups. | |
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Integration with Calendar Tools Synchronizes onboarding activities with calendar and scheduling platforms. |
No information available | |
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Approval Chains Defines and automates multi-level approval flows. |
Approval chains (e.g. multi-level) described as part of workflow options. |
Security
(6 Yes /6 Known /7 Possible features)
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Multi-factor Authentication Supports two or more authentication steps for all users. |
Multi-factor authentication is a security compliance requirement and is provided. | |
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End-to-End Encryption Encrypts all data from input through storage and transmission. |
End-to-end encryption features are referenced in security and compliance documentation. | |
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Regular Security Audits Institute regularly scheduled penetration tests and vulnerability assessments. |
Tamarac undergoes regular third-party security audits as a regulated tech provider. | |
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Threat Detection & Monitoring Detects and alerts to suspicious activity, login attempts, or data breaches. |
Threat detection and monitoring is part of the security offering for enterprise clients. | |
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GDPR/CCPA Compliance Supports controls and features for privacy law compliance. |
GDPR and CCPA privacy compliance controls are part of the platform for U.S. and EU users. | |
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Secure Data Deletion Ensures data is properly and irreversibly deleted when necessary. |
No information available | |
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Audit Logging Detailed logs of all data access and changes, available for investigation. |
Detailed audit logging of data access and changes is key to the compliance suite. |
Reporting & Analytics
(4 Yes /4 Known /8 Possible features)
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Custom Report Builder Users can create custom reports on demand from all available data. |
Custom report builder is part of the reporting and analytics engine. | |
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Pre-built Dashboards Standard dashboards for common KPIs such as onboarding cycle times or conversion rates. |
Pre-built dashboards and standard metrics provided for advisory KPIs. | |
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Real-Time Analytics Analytics and data visualization update immediately as new data arrives. |
Real-time analytics and immediate refresh is a competitive differentiator. | |
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Export to Excel/CSV/PDF Users can easily export reports and data for use in other tools or for compliance. |
Export of reports/data to Excel, CSV, PDF is featured for compliance and advisor workflow. | |
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Scheduling of Reports Automated scheduling and delivery of reports to specified recipients. |
No information available | |
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Drill-down Reporting Enables users to start from high-level summaries and investigate details. |
No information available | |
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Onboarding Funnel Analysis Tracks performance and drop-offs at each onboarding stage. |
No information available | |
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Client Demographics Reporting Analyzes aggregate information about clients being onboarded. |
No information available |
Collaboration & Communication
(4 Yes /4 Known /7 Possible features)
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Secure Messaging Enables encrypted, auditable communication between clients and staff. |
Secure internal messaging is featured as part of the collaboration suite. | |
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Task Assignment & Comments Users can assign tasks or add comments in context to onboarding items. |
Task assignment and contextual comments are supported for onboarding workflow. | |
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Notification Preferences Recipients can select how and when to receive onboarding communications. |
No information available | |
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Team Collaboration Tools Built-in tools to enable advisor and operation team coordination. |
Collaboration tools for advisor and support teams are integrated in Tamarac. | |
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Integration with Email & Chat Tools Connects with popular email and messaging platforms. |
Email/msg integration for client and advisor communications is highlighted. | |
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Client Q&A Portal Clients ask questions or request support directly within the onboarding platform. |
No information available | |
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Event Tracking Tracks all communication events and their timestamps. |
No information available |
Scalability & Performance
(1 Yes /1 Known /6 Possible features)
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Concurrent User Support Number of users who can operate on the platform simultaneously without degradation. |
No information available | |
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Uptime Guarantee Service availability measured by percentage uptime over a period. |
No information available | |
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Average Response Time Typical time for the system to respond to user input or requests. |
No information available | |
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Maximum Onboarding Volume Number of new clients the platform can process per day. |
No information available | |
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Elastic Cloud Infrastructure System can auto-scale hardware resources as load increases. |
Tamarac is deployed on scalable cloud infrastructure (Microsoft Azure) offering automatic scaling. | |
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Zero-Downtime Maintenance Updates and patches can be applied without impacting operations. |
No information available |
Support & Vendor Services
(5 Yes /5 Known /7 Possible features)
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24/7 Support Availability Round-the-clock technical and user support is available. |
24/7 support is mentioned as available for Tamarac clients. | |
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Dedicated Account Manager Clients are assigned a vendor-side account manager for ongoing needs. |
Dedicated account manager assignment is standard for Tamarac advisors. | |
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Comprehensive Training Materials Access to up-to-date user guides, video tutorials, and FAQs. |
Extensive online help, training materials, and documentation available. | |
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Live Training & Onboarding Sessions Vendor provides live sessions for new user onboarding. |
Live training and onboarding support is provided during implementation and onboarding. | |
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Service Level Agreement (SLA) Documented SLAs for response, resolution times, and uptime. |
Envestnet Tamarac documents SLAs for clients regarding uptime and response times. | |
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Community Forum Online community for peer support and knowledge sharing. |
No information available | |
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Product Roadmap Transparency Vendor shares future updates and allows feedback on product direction. |
No information available |
Cost & Pricing Flexibility
(2 Yes /2 Known /5 Possible features)
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Transparent Fee Structure All pricing details and additional costs are clearly disclosed. |
No information available | |
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Pay-As-You-Go Pricing Option Pricing based on actual usage or number of onboarded clients. |
No information available | |
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Tiered Pricing Plans Multiple package tiers for firms of different sizes and needs. |
Tiered pricing options are offered depending on firm size and platform selections. | |
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Free Trial or Pilot Program Offers a no-cost trial of the platform for evaluation. |
No information available | |
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Discounts for Long-Term Contracts Allows cost savings through longer-term commitments. |
Discounts for long-term contracts are cited as part of the pricing options. |
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