Envestnet | Tamarac and Flyer Roll Out Co-Pilot OMS to Advisors

Envestnet | Tamarac and Flyer Roll Out Co-Pilot OMS to Advisors

By Charles Kozler

Advisors using Tamarac Trading now have access to enhanced trading capabilities to streamline operations, eliminate errors and improve outcomes for clients

SEATTLE, Nov. 12, 2019 /PRNewswire/ — Envestnet | Tamarac and Flyer today announced that their integrated software is now available for advisors looking to enhance trading capabilities and streamline operations. The integration joins the Tamarac platform with Flyer’s Co-Pilot order management system (OMS) and Flyer Trading Network to provide a more comprehensive, seamless experience while helping eliminate high-risk errors. This partnership offers advisors an advanced solution for trading equities, ETFs, mutual funds and other asset classes, and accessing broker trading algorithms to connect with brokers and allocate trades.

Along with the best-in-class portfolio and client management capabilities of Tamarac, Co-Pilot offers advisors and investment professionals access to sophisticated order management, increased efficiencies and streamlined operations when overseeing accounts and trading on behalf of their clients. The partnership eliminates time-wasting tasks, enabling advisors to achieve scalable growth for their business without needing to switch brokers or custodians. Key benefits include:

  • Enhanced visibility: Advisors using Tamarac gain insight with centralized trading on a single platform. An order is now executed with one click across multiple brokers and custodians, and automatically allocated within Co-Pilot, rather than across multiple applications.
  • Sophisticated order management: Flyer’s Co-Pilot allows for tradeaways directly within the software, eliminating the calls, emails and spreadsheets typically required to manage orders. It also offers access to broker algorithms, enabling a simpler, more automated trading process that eliminates errors.
  • Smart allocation: Advisors now have the flexibility to support even the most sophisticated allocation workflows, which reduces ticket charges and overrides select allocation methods. This also eliminates offline workarounds by automatically creating new orders for the remainder of open quantities and electronically sending manual allocations to custodians.

“Through Tamarac’s partnership with Flyer, advisors using our trading platform are seeing tangible benefits to their workflow, enabling them to spend more time connecting with clients,” said Andina Anderson, Executive Managing Director at Envestnet | Tamarac. “At Tamarac, our mission is to arm advisors with tools they need to succeed in this incredibly competitive industry and our work with Flyer is a great example of how we continue to deliver value.”

Seven advisory firms on the Tamarac platform are already using the Co-Pilot OMS, and Envestnet and Flyer are working to on-board others. Advisors using Tamarac will also have access to the Flyer Trading Network, which is an advanced, multi-asset trading network which enables advisors to trade with multiple custodians and brokers through one centralized OMS.

“The combined offering is designed to provide advisors with a more seamless, connected way to trade. We believe this is the future of trading for advisors,” said Flyer COO Bradley Kellogg. “The joining of these two leading technologies creates streamlined workflows for advisors and better outcomes for their clients. We are incredibly excited by the positive feedback we have received from advisors on Co-Pilot and look forward to continuing with the rollout to Tamarac advisors.”

About Flyer
Flyer is a leading provider of trading tools, connectivity, and infrastructure for the wealth management industry. Flyer automates the trade lifecycle with Co-Pilot, an order management system, and Flyer Trading Network, a multi-asset trading network. The platform unifies access to major custodians and brokers while providing intelligent Graphical User Interfaces (GUIs) and Application Programming Interface (APIs) for managing positions, orders, trades, and allocations.

For more information about Flyer, please visit co-pilotflyer.com and follow @FIXFlyer.

About Envestnet
Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology empowers enterprises and advisors to more fully understand their clients, and deliver actionable intelligence that drives better outcomes and improves lives.

Envestnet Wealth Solutions enables enterprises and advisors to better manage client outcomes and strengthen their practices through its leading Wealth Management Operating System and advanced portfolio solutions. Envestnet | Tamarac provides portfolio management, reporting, trading, rebalancing and client portal solutions for registered independent advisers (“RIAs”). Envestnet | MoneyGuide provides goals-based financial planning applications. Envestnet Data & Analytics enables innovation and insights through its Envestnet | Yodlee data aggregation platform.

More than 100,000 advisors and more than 4,700 companies including: 16 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs and hundreds of internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors and their clients.

For more information about Tamarac, please visit tamaracinc.com, and follow @ENVTamarac on Twitter and Envestnet | Tamarac on LinkedIn.

Media Contact:
Aaron Parker
Weber Shandwick

SOURCE Envestnet | Tamarac

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