"We consistently look for ways to improve the user experience for advisors who rely on our platform—last year, we completed 665 technology enhancements, representing over 9,000 hours of development work," said
When setting up percentage ownership accounts in Advisor View, advisors can set ownership splits at the account or security level, or a combination of both. Advisor View maintains a historical record of account splits, allowing advisors to adjust (and report on) ownership percentages over time from within the application. All Advisor View reporting options—including dynamic holdings reports, performance and transactional reports, and PDF reports—are available for these accounts once they have been created. Advisors can also upload reports about percentage ownership accounts to the Advisor View client portal.
This integrated feature has many practical uses for advisors. For example:
- Advisors can show trustees their portion of a trust account.
- Advisors can provide reports to individual investment partners demonstrating the performance of their stake in a partnership—as well as the partnership's overall asset performance.
- Advisors can create demo accounts for prospective clients, tailoring account values for prospects and showing them a detailed view of what their accounts would look like in Advisor View. The experience can be further customized for prospects with the addition of generic or targeted client information.
"These new features will enhance the Advisor View reporting experience for families who use complex estate planning tools, such as family limited partnerships," said
In addition to Advisor View's new portfolio ownership feature, the application now offers composite reporting for specific categories of securities. Advisor Rebalancing® and Advisor CRM®—the other two components of Advisor Xi—have also undergone enhancements during
- Greater control over individual page permissions for editing and view access, as well as security enhancements related to dual-factor authentication.
- The capability for tax-loss harvesting rebalances to show the specific lots to be sold to certain custodians (Charles Schwab & Co., TD Ameritrade, and
Fidelity Investments), which helps ensure that the most tax-efficient trades are executed.
- Enhancements to
Envestnet| Tamarac's order management system, Advisor OMS, which allow manual fills and allocations for brokers and custodians which may not have a Financial Information eXchange (FIX) connection in place, as well as for securities that are traded away outside of Advisor OMS.
- A new system view, "Clients I Work With," provides information on all clients for which the user is part of the service team.
- Another new system view, "My Service Team's Activities," provides records for all clients and leads in which the user is listed as part of the service team.
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