New version of portfolio monitoring and rebalancing improves on workflows. Tamarac is out with a new version of its Advisor portfolio-management, rebalancing and trade-order management software for RIAs, and, in an effort to add clients further downstream from its upmarket core, it's making the platform available to firms with less that $100 million under management for $12,000 a year in addition to a set-up charge of $5,000 setup.

Larger firms will have to pony up $20,000 a year and pay a one-time installation fee of $10,000.

Out of Tamarac's client base of about 230 firms, 80 of them average assets under management of over $600 million, and 30 of those are in the $1-billion-plus bucket. Altogether its clients manage approximately $60 billion in end-client assets.

Time shaver

Seattle-based Tamarac says the new version of its web-based back-and-middle-office technology is easier to use.

"Our primary focus has been to increase the usability to enable independent RIAs to easily integrate our application into their portfolio monitoring, rebalancing and trading processes," according to Tamarac's CEO Stuart DePina.

As Tamarac worked to improve the platform over the past year or so, it "consulted with approximately 200 of our clients as well as performed market research with an excess of an additional 200 RIAs, [turnkey asset-management programs], regional brokers, custodians, and other service providers," says DePina.

Daniel Dubay of Roswell, Ga.-based PPA Advisors views Tamarac as "a vital strategic partner" that has helped it cut the amount of time his colleagues spend on trade-related tasks by 65%.

"We can now run multiple trade scenarios, factoring in taxes and trading cost in minutes [as opposed to] the better part of a day," says Dubay. "Tamarac has given us capacity and scale that hiring more staff could not have accomplished." -FWR

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