Envestnet’s Tamarac has integrated with wealth data aggregation service provider Private Client Resources, the company announced. PCR specializes in providing automated aggregation of alternative and illiquid assets, combining data from over 400 custodians and banks. Envestnet also owns account aggregation service Yodlee.
“This integration will offer firms new ways of better serving clients with an efficiently managed total view of their client's investments,” said Bob Miller, CEO of PCR. The integration will include a statement of alternative investments, as well as a dashboard with reconciled data feeds and business intelligence updates.
Tamarac has seen a number of improvements over the past year, including a revamped document vault and improved integration with Pershing’s NetX360 platform. Secure data aggregation has been increasingly important for wealth management lately, with increased attention from industry players and even the Treasury Department.