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Envestnet Concludes Pilot With Schwab, TDAI

Envestnet Concludes Pilot With Schwab, TDAI

A Tamarac-based digital account opening feature is now broadly available.

Envestnet | Tamarac concluded its digital account-opening pilot with TD Ameritrade Institutional and Schwab Advisor Services, making the features available to the broad market, according to a company announcement. With the feature enabled, auto-populated client account information will now appear in the custodial platform, directly from Tamarac Reporting.

“A digital account-opening process enables advisors to save time and reduce errors related to manual data entry and focus on higher-value activities such as holistic financial planning,” said Andina Anderson, executive managing director of Tamarac. The feature uses e-signatures and a single sign-on, according to the firm.

The improvements are designed to help advisors attract and retain more millennial clients, Anderson explained. “More of our clients are expecting an online and automated experience, this gives them a competitive edge,” she said.

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