Brandon Rembe, chief technology officer at Envestnet | Tamarac, outlined Tamarac’s product roadmap at the Envestnet Advisor Summit on Thursday.
The firm has added 544,000 new accounts in the last year, with 180,000 end client portals, Rembe said.
“That level of scale forces us to do things a little bit differently,” he said.
Among the key product initiatives are improvements to digital client engagement tools.
One of the big things the Tamarac team has been working on this year is consolidation of reporting tools so advisors don’t have to use multiple reports, Rembe said.
Tamarac is getting rid of the Outlook plugin in Microsoft Dynamics 365, which the firm added as an integration in December, and replacing it with a “lightweight” app that connects to users’ exchange server rather than their Outlook.
Over the last 12 months, Tamarac has rolled out several product enhancements designed to streamline advisors’ workflows so they can complete tasks quickly.
Advisors can create templates for accounts to set up similar accounts, for example, those held at the same custodian, Rembe said. Advisors can also create a “template of templates” so that when they make a change, it applies to accounts made from different templates.
Finding client data across different accounts has been simplified, too. ”We’re really trying to reduce [the number of] clicks in this new workflow,” Rembe said.