Envestnet | Tamarac Strengthens Cash Management Capabilities for RIAs, Forging Integration with Flourish

Envestnet | Tamarac Strengthens Cash Management Capabilities for RIAs, Forging Integration with Flourish

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Data Feed from Flourish Cash is Among the Latest Set of Tech Updates to Tamarac Suite

Envestnet, Inc. (NYSE: ENV) has announced that the Envestnet | Tamarac wealth management platform has implemented an integration with Flourish Cash, a cash management solution. Account data from Flourish Cash can now be accessed and imported by registered investment advisers (RIAs) within Tamarac, further expanding the advice they can deliver.

Flourish Cash is the only cash management solution built from the ground up for the clients of independent advisors. Serving as a complement to clients’ existing bank accounts, Flourish Cash provides clients with a competitive interest rate and more Federal Deposit Insurance Corp. (FDIC) insurance than a bank account—all within a beautiful, easy-to-use online account with no minimums and unlimited transfers.

Flourish Cash provides advisors with an exclusive, invitation-only product, designed to help advisors provide more value to existing clients while leveraging Flourish Cash to help win prospects—and even generate referrals from a built-in referral engine. Advisors can also feature their logo across the website and materials, and can set up standing instructions to help clients transfer funds between clients’ portfolios and Flourish Cash accounts—all at no cost to their practices. For more information, please visit https://www.flourish.com/learn/advisors.

With this new integration, advisors can now help clients set up Flourish Cash accounts to meet budgeting goals within the Tamarac platform, and clients can monitor these accounts in real time through Tamarac’s client portal.  

“Our integration with Flourish Cash furthers our mission to empower advisors to provide advice that can improve outcomes in all areas of a client’s financial life,” said Andina Anderson, Executive Managing Director of Envestnet | Tamarac. “We continue to enhance the Tamarac Suite so that advisors have a broad spectrum of tools to help clients achieve financial wellness.”

The data feed between Tamarac and Flourish Cash was implemented in August 2020 as part of the latest set of bimonthly Tamarac Suite updates, which also includes enhancements to Tamarac Reporting® and Tamarac Trading®:

Tamarac Reporting

  • Greater consistency in Holdings and Asset Allocation reports.
  • More consistent calculations of time series composites.
  • More condensed and comprehensive billing statements.
  • New options for better controlling the image quality of PDF charts.

Tamarac Trading

  • New settings and options in Rebalance Summary PDF reports.
  • Improvements to Restriction Override workflow.
  • New Pershing Equity Trading independent broker-dealer trade file.
  • Broker saved-search filters for equities and mutual funds for Tamarac users in Flyer’s Co-Pilot order management system, made possible through the expanded integration announced earlier this year.

To schedule a Tamarac Suite demo, please visit https://www.tamaracinc.com/demo.

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