Using the Envestnet Tamarac Integration

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Overview

Our Tamarac integration keeps your specific Practifi records in sync with records within your Tamarac instance. This article outlines the integration, how to use the integration and the data field mapping of the integration.

Please note: This functionality will not be available in your organization if the integration has not been enabled. For information on enabling the integration, please consult our Enabling the Envestnet Tamarac Integration article.

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

Sync

Tamarac

Client

 Real-time 

Household

People

 Real-time 

Client

Asset

 Manual

Account

Using the integration

Sending Clients & People to Tamarac

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. 

Please note: This feature is only accessible to a user login that 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 with the Customize Application permission assigned.

If meeting the above requirements leads to compliance and security issues for the firm, a client firm should not activate the 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 can proceed:

  1. Navigate to the Client record you wish to send.
  2. From the dropdown arrow, select the Create in Tamarac link.
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  3. (Client only) Select the People you wish to send alongside the Client, then select 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 synchronized 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. 

Selecting the Open in Tamarac link, located under the dropdown arrow in Practifi, will open the client's Tamarac Reporting record in a new browser tab.

Syncing Assets (Tamarac Financial Accounts) into Practifi

To Sync Assets from Tamarac, the Financial Accounts and the related 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 that should be linked to a Household in Practifi.
  4. Select the Settings tab and click the Add CRM Household button.
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  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.
    • Please note: Upon linking the Tamarac Household, the Household Name in Tamarac will be updated to the name of Practifi household if the two are different.
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  6. After linking the households, select Save.
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  7. Once the Households have been linked, commence a synchronization. Select the Setup tab and click Sync from Portfolio Accounting System.
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  8. From the Sync From Portfolio Accounting System window, select Sync.
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  9. Data sync will start, and the panel will now show the progress of the data sync.
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  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
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