Wed, 04/12/2013 - 16:29
Envestnet | Tamarac, a division of Envestnet, has formally begun the integration of its Advisor Xi platform into Pershing's NetX360 custodial channel for investment professionals and registered investment advisors (RIAs).
Advisors will have access to this integration in the first half of 2014.
Advisor Xi is a web-based platform that unifies portfolio management, rebalancing, trading, monitoring, model management and performance reporting with an enterprise-level client relationship management (CRM) system and a client portal.
The current integration efforts with Pershing's NetX360 platform will enable advisors using Advisor Xi to conduct straight-through processing of equity and mutual fund trades on accounts custodied at Pershing, as well as access real-time custodial account data. Tamarac is actively working to integrate Advisor Xi into multiple custodial platforms to abbreviate portfolio management and trading processes for independent RIAs, regardless of where their client accounts are custodied.
"Our mission is to help advisers grow their practice more profitably, and we deliver on that promise by continually adding meaningful integrations within the Advisor Xi platform, and with strategic partners -- such as Pershing Advisor Solutions," says Stuart DePina, group president, Envestnet | Tamarac. "Providing our mutual RIA clients with real-time custodial data and straight through processing of trades enables them to not only deliver a higher level of service to their clients, but to also drive incremental efficiencies that translate to a higher firm valuation."
As part of the integration, advisors can use the Advisor Rebalancing application to generate and execute trades directly with the custodian. Advisor Rebalancing will also benefit from real-time cash and account balance information. In addition, Tamarac will make real-time custodial account data available via its integrated portfolio management and reporting application, Advisor View, as well as within its integrated client management system, Advisor CRM – built on the Microsoft Dynamics platform. This custodial data will include account overviews and contact information, trade confirmations, tax documents, balance data and statements.
"Pershing's open architecture platform allows us to provide clients with an unprecedented level of choice in customising their business needs to be more efficient and effective," says Ram Nagappan, chief information officer for Pershing. "We are pleased to integrate with the Advisor Xi web-based platform, and continuously seek to add the latest in investment services technology to the Pershing platform to meet our clients' increasingly complex technology needs."
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