The alliance, announced Thursday, is designed to help advisors oversee client accounts more efficiently. It will be available to advisors in the second quarter.
Under the terms of the deal, the Salentica Advisor Desk, a CRM solution designed to help wealth management firms address client management needs, will integrate with Envestnet-Tamarac’s Advisor Rebalancing solution.
“This collaboration will streamline advisors’ ability to manage their clients’ financial accounts by eliminating the need to move between two different platforms when rebalancing portfolios and managing client interactions,” said Stuart DePina, the president of Envestnet-Tamarac. “These enhanced client-service efficiencies are the continuation of our commitment to empowering advisors to take their portfolio management capabilities and practices to the next level.”
At the financial account level, advisors will be able to respond immediately to cash requests and other client inquiries using the integrated Tamarac Advisor Rebalancing functionality directly from the Salentica Advisor Desk. Advisors can also adjust their clients’ Advisor Rebalancing model portfolios and account settings and access other advanced rebalancing features from within the CRM platform.
Envestnet-Tamarac plans to continue to align with other providers of best-in-class CRM technology as it refines its own CRM platform, Advisor CRM. Both Tamarac Advisor CRM and Salentica Advisor Desk are built on the Microsoft Dynamics CRM platform.
“The days of proprietary vendor systems are over and this is one step that brings advisors closer to having an integrated office,” said Tom Ngo, shareholder and chief technology officer of Wetherby Asset Management, one of the technology providers’ mutual advisor clients. “The ability to launch Advisor Rebalancing directly from Salentica Advisor Desk CRM and have seamless integration between the two systems are tremendous features that allow us to be more efficient and productive in our practice.”