WESTERLY, R.I., Oct. 1, 2015 /PRNewswire/ -- Weston Financial Group, Inc., a division of Washington Trust Wealth Management, announced that Advisor® Xi from Envestnet | Tamarac™ has been chosen as its new platform for managing client accounts. Advisor Xi is a web-based solution for independent financial advisors that unifies portfolio management, performance reporting, trading, rebalancing, and billing with a branded client portal and an enterprise-level client relationship management (CRM) system.
"As Washington Trust Wealth Management continues to grow, we need sophisticated and secure technology to enhance our client experience," said Mark K.W. Gim, Washington Trust Senior Executive Vice President, Wealth Management and Treasurer. "Envestnet | Tamarac is an industry leader and their Advisor Xi platform is the perfect solution; it is user-friendly and offers 24/7 mobility for clients, while allowing our advisors to continue providing expert guidance and personal service."
To date, more than 800 RIA firms managing in excess of $500 billion in client assets are leveraging Advisor Xi's three custodian-agnostic components. Advisor View is a powerful portfolio management solution, providing composite reporting, account analytics, and alternative and fixed-income asset handling to give financial advisors a complete picture of every account. Advisor View's client portal provides a rewarding and custom view of each household's portfolio, and the combination of the client portal and Advisor View's branded iPad app enables advisors to demonstrate their value and engage their clients anytime and anywhere.
Advisor Rebalancing® is a portfolio trading and rebalancing solution, enabling advisors to automate model portfolio construction and management, monitor accounts for trading triggers, execute trades directly with brokers, make tactical trades, and reconcile the previous day's trades—all with the click of a button.
Advisor CRM® serves as a centralized hub for Advisor Xi users, integrating data and functionalities from Advisor View and Advisor Rebalancing so advisors can quickly locate the information they need to provide a superior level of service to their clients. Advisor CRM is built on the trusted Microsoft Dynamics® CRM platform.
"Advisor Xi is a game-changer for independent advisors, empowering them to quickly put together a complete financial picture for each client and report it in a way that is easy to understand," said Stuart DePina, Group President of Envestnet | Tamarac. "We look forward to working with Washington Trust Wealth Management to help the firm's advisors obtain and deliver powerful insights into client portfolios, as well as enhance engagement with clients and, ultimately, lay the groundwork for better outcomes."
ABOUT WASHINGTON TRUST WEALTH MANAGMENT Washington Trust Wealth Management is one of the premier wealth management firms in the Northeast, providing financial planning, asset management and trust and estate planning services to high-net-worth clients, endowments, foundations, retirement plan sponsors and other institutional investors for more than a century. Washington Trust Wealth Management has more than $6 billion in assets under administration. It provides services through its offices in Rhode Island (Providence, Westerly, and Narragansett) and through its registered investment advisers, Weston Financial Group, Inc. in Wellesley, Massachusetts and Halsey Associates, Inc. in New Haven, Connecticut. Washington Trust Wealth Management is a division of The Washington Trust Company, a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ OMX®: WASH). Additional information can be found at www.washtrust.com/home/wealth.
ABOUT ENVESTNET Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to investment advisors. Our open-architecture platforms unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet solutions enable the transformation of wealth management into a transparent, independent, objective, and fully-aligned standard of care, and empower advisors to deliver better outcomes.
Envestnet | Tamarac™'s web-based platform for independent RIAs, Advisor® Xi, deeply unifies portfolio management, modeling, rebalancing, trading, billing, and reporting with a client portal and enterprise-level client relationship management (CRM) system.