ENVESTNET DEEPENS INTEGRATION WITH SCHWAB ADVISOR SERVICES™ THROUGH NEW CUSTODIAL FEATURES IN TAMARAC CRM

News provided by

Nov 18, 2024, 08:00 ET

Enhancements include Direct Service Requests, Alerts & Status, and Move Money Single Sign-On for Advisors Managing Schwab Accounts

BERWYN, Pa., Nov. 18, 2024 /PRNewswire/ -- Envestnet has rolled out a suite of highly requested custodial features in its Tamarac CRM platform to enhance the experience for advisors managing Schwab accounts. These updates reflect Envestnet's ongoing commitment to empowering advisors to bring more value to clients while further strengthening its relationship with Schwab Advisor Services, a custodian-of-choice for many Registered Investment Advisers (RIAs).

Advisors attending Schwab IMPACT® 2024 can learn more about these updates to the Envestnet ecosystem by visiting the Envestnet booth #701.

"At Envestnet, supporting the needs of advisors is our top priority," said Molly Weiss, Group President of Wealth Management Platform for Envestnet. "These new features enhance the Tamarac CRM solution, empowering advisors with Schwab custody clients to further streamline their processes and focus on what truly matters: their clients. Our robust relationship with Schwab not only strengthens our custodial integration but also allows us to continuously innovate within our ecosystem, optimizing workflows and driving advisor growth and productivity. Together, we're committed to providing the tools and support advisors need to thrive in today's competitive landscape."

Key New Features Include:

Service Request: Advisors can now submit Schwab service requests directly within the Tamarac CRM interface. This integration allows for secure transmission of forms and documents, minimizing errors and improving processing times.

Alerts & Status: Advisors will have access to account alerts related to money movements, client permissioned deposits/withdrawals, and digital account openings. Status updates for various service requests will also be available, including for a number of account and transaction types, helping advisors stay informed and responsive to client needs.

Move Money Single Sign-On: A new single sign-on integration enables advisors to access Schwab's Move Money Tool directly from Tamarac's CRM. This feature streamlines internal transfers, ACH transactions, and wires, allowing clients to approve requests quickly from their devices.

"At Charles Schwab, we believe in the power of collaboration to elevate the advisor-client experience, and we greatly value our long-lasting and ongoing relationship with Envestnet," said Alison Dooher, Head of Schwab Digital Advisor Solutions. "This represents a significant step forward in our shared commitment to empowering advisors with innovative tools."

About Envestnet
Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions – backed by industry-leading service and support. Serving the wealth management industry for 25 years with more than $6.5 trillion in platform assets—more than 111,000 advisors, 17 of the 20 largest U.S. banks, 48 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs -- thousands of companies, depend on Envestnet technology and services to help drive business growth and productivity, and better outcomes for their clients. Data as of 9/30/24.

MEDIA CONTACTS:
Amy Norcini
Envestnet
[email protected]

Laura Simpson | JConnelly for Envestnet
[email protected]

SOURCE Envestnet, Inc.