Envestnet|Tamarac, a division of Envestnet, Inc., is a leading provider of integrated, web-based portfolio rebalancing, performance reporting, and customer relationship management software for independent advisors and wealth managers. Envestnet|Tamarac enables investment advisors to run their businesses with greater efficiency, scale, and profitability through our custodian agnostic technology platform and outsourced portfolio management services.
Data Setup Information
How Envestnet|Tamarac Records Translate into Your CRM
Tamarac Accounts = CRM Financial Accounts
Tamarac Portfolios = CRM Portfolios
There is no household object at Tamarac for this integration. Household Aggregation will still process but the Household record and lookups from the corresponding financial accounts need to be in place.
Step 1: Create a New Tamarac User
Follow these steps to set up a Tamarac user for the Salentica CRM Integration:
Contact Account Management at [email protected] to create a new Tamara Reporting user for your firm with the following information:
- First Name: Salentica
- Last Name: Salesforce or Dynamics
- Username: EnterpriseName_SalenticaSalesforce or EnterpriseName_SalenticaDynamics
It's recommended this user:
- Have admin-level privileges at Tamarac
- Enabled for APIs permissions at Tamarac
- "Bulk report API usage" needs to be enabled at the firm level
Sign in to the new user and set a permanent password. This must be done within 72 hours of when the user is created. The username and password must be provided to Salentica, including answers to any Dual-Factor Authentication questions, if applicable. Note: If you change the username or password for the integration user, you must update the associated credentials in Skyline/Data Broker. At this time, MultiFactor Authentication (MFA) is not supported for the integration user.
Note: If the integration requires credentials or authentication into the system via Data Broker, there's a chance the refresh token may expire if the integration is not scheduled to run on a recurring basis or is not manually run regularly. In this case, you may need to re-enter credentials in Data Broker to get a new, valid authentication token.
Note: If your firm has IP restrictions set up for Tamarac Reporting, provide Salentica a list of IP addresses for the authorized address list. There is no cost for adding addresses to the authorized for Tamarac reporting or Trading.
Step 2: Create an Account Information Bulk Report
While logged in under the Salentica Tamarac user, create an Account Information bulk report called AccountInfoAV. To create the bulk report, follow these steps:
- Navigate to https://portal.tamaracinc.com
- Under Reports, click Bulk Reports
- Click Create Report
- In Name, type AccountInfoAV
- In Report Type, select Account Information
- From the Choose Columns tab, add the following columns in this order:
- Account Name
- Account Number
- Account Current Value
- Account Type
- Custodian
- Closed Date
- Click Save.
Step 3: Create an Account Holdings Bulk Report
Create an Account Holdings bulk report named AccountholdingsAV. To create the bulk report, follow these steps:
- Under Reports, click Bulk Reports
- Click Create Report
- In Name, type AccountHoldingsAV
- In Report Type, select Account Holdings
- From the Choose Columns tab, add the following columns in this order:
- Account Number
- As of Date
- Cost Basis
- Holdings Current Value
- Current Yield
- Quantity
- Current Price
- CUSIP
- Security Description
- Security Type
- Symbol
- Asset Class
- Sector
- Click Save
Custodian Account Number and Portfolio Management System (PMS) Account Number are different data points within the Data Broker and should be considered as such. The Custodian Account number is mapped for account numbers coming through the custodial integration and the PMS account number is the account number received through the integration with the Portfolio Management System. Many times the numbers can and will be the same but each will be treated differently by the Data Broker based on the integration type.
Data Exclusion
Data Broker uses the following parameters when Salentica queries the bulk report template:
- Exclude any records where EntityType="Group"
- Exclude any record where CloseDate has a value and CloseDate is older than 15 days
If your firm wishes to exclude additional accounts that do not fall into either of the above categories, it is recommended that the accounts be removed from the Tamarac user's access.
Accessing Envestnet|Tamarac from Within the CRM
You don't have to leave the CRM to see Envestnet|Tamarac information. Log into Envestnet|Tamarac, in context, from the CRM. When the component is added to the page layout, a login prompt will authenticate directly to Envestnet|Tamarac. The portfolio-level login button will take you to view the portfolio you are viewing in the CRM.
Note: Your Envestnet|Tamarac data stays secure! Credentials are user-specific and separate from the Salentica bulk data user. Security permissions are inherited from Envestnet|Tamarac; if the user is not permissioned to view the account or portfolio in Envestnet|Tamarac, then they will not be able to access the records through the login button.
The contextual hyperlink buttons requires the below to be mapped in the Entity settings of Data Broker.
FAQs
Q: When does data update in the CRM ?
A: Generally we run Data Broker at 9:30 eastern standard time. If you need to adjust this time, please enter a support ticket and we can walk you through how to make this update.
Q: What data points are available from Envestnet|Tamarac?
A:
Please keep in mind, all of these data points might not be mapped into your CRM, and that we frequently update the data points that are available.
Q: How do I request new data points?
A: We are constantly working with our partners to create deeper integrations. If there is a data point that you would like to have brought into the CRM, first check with Envestnet|Tamarac to see if it is currently available. If it is available, reach out to the service team to see if we pull in that data, and how to map it into your CRM.
