Using the Envestnet Tamarac Integration

Follow

Integration summary

Our integration with Tamarac allows you to keep your Practifi Clients, People & Asset records in sync with Tamarac’s Households, Clients & Accounts, as well as providing deep links from Practifi directly into Tamarac records. The information flow between systems functions as below:

Practifi

 

Tamarac

Client

🠜 Real-time 🠞

Household

People

🠜 Real-time 🠞

Client

Asset

🠜 Manual

Account

Using the integration

Sending Clients & People to Tamarac

IMPORTANT NOTE: The Tamarac Salesforce app allows the user to Send and View a linked Household in the Tamarac Reporting portal from within Practifi, using Create in Tamarac and Open in Tamarac links.  However, this feature is only accessible to a user login which meets the following two criteria:

  1. Must have an Enterprise Administrator account in Tamarac; and
  2. Must be a Practifi user with the System Administrator Profile, and with the Customize Application permission assigned.

If meeting the above requirements lead to compliance and security issues for the firm, a client firm should not activate this SSO feature, and remove the Create in Tamarac and Open in Tamarac links.   To view a Practifi client in Tamarac users should open a separate browser tab and log on directly to their Tamarac account and search for the client.

If you are able to proceed:

  1. Navigate to the Client record you wish to send.
  2. From the dropdown arrow, click the Create in Tamarac link.
    mceclip0.png
  3. (Client only) Select the People you wish to send alongside the Client, then click the Create Household in Tamarac button.
  4. You'll receive a confirmation message.  The Open in Tamarac link will allow users to view the client in Tamarac Reporting.
Updating and viewing records

Whenever a synchronised field on the Client or Client Person record is updated in either Practifi or Tamarac reporting, the update is sent to the other system in real-time. 

Clicking the Open in Tamarac link (under the dropdown arrow) in Practifi will open the client's Tamarac Reporting record in a new browser tab.

Sync Assets (Tamarac Financial Accounts) into Practifi

To Sync Assets from Tamarac its Financial Accounts) the Households in Tamarac must have a link in Practifi.  This link can be established from the Tamarac portal.

  1. Log in to the Tamarac portal
  2. Go to Accounts and select Households.
  3. Click the Household in Tamarac which should be linked to a Household in Practifi
  4. Select Settings tab and click Add CRM Household button.
    mceclip0.png


  5. A Link CRM Household window will appear and will search the Household name that was shown when the button was clicked.  If the search is correct select the CRM Household Name and click the Link Selected Household button. If the Household in Practifi has a different name to the Household in Tamarac, the user can update the search term and try again.  Upon linking the Tamarac Household, the Household Name in Tamarac will be updated to the name of Practifi household (if the two are different).
    mceclip1.png


  6. After linking the households, click Save.
    mceclip2.png


  7. Once the Households have been linked, commence a synchronisation.  Select the Setup tab and click Sync from Portfolio Accounting System.
    mceclip3.png


  8. From the Sync From Portfolio Accounting System window, click Sync.
    mceclip4.png

  9. Data sync will start, and the panel will now show the progress of the data sync.
    mceclip5.png

  10. Once the sync is completed the Tamarac Assets (Financial Accounts) will appear under the Financials > Assets tab of the corresponding linked Household in Practifi.
Receiving Assets from Tamarac

Assets are sent whenever a portfolio accounting sync is done in Tamarac Reporting. To initiate one manually:

  1. Navigate to the Sync From Portfolio Accounting System page from the Setup menu.
  2. Define the day range and other options, then click Sync.
  3. The Account records of all Households synchronised with Practifi will either be sent into the system, or have their values updated if they already exist.
Field mapping

The following are the minimum mappings for integration with Practifi.  A complete mapping list is available in the Enabling Envestnet Tamarac Integration article.

Client - Household

Account   (Practifi) Household (Tamarac)
Account Name Name
Billing Street Street
Billing City City
Billing State/Province State/Province
Billing Zip/Postal Code Zip


Client Person - Client

Contact   (Practifi) Client     (Tamarac)
First Name First Name
Middle Name Middle Name
Last Name First Name
Email Email


Asset - Account

Asset Liability (Practifi)

Financial Account (Tamarac)

Description Account Name
Account Number Account Number
Notes Account Type
Current Value Total Value
0 out of 0 found this helpful

Comments

0 comments

Please sign in to leave a comment.