Chicago-based Envestnet and New York-based Flyer announced on Tuesday an expanded integration between Flyer’s digital trading capabilities and the Envestnet | Tamarac RIA platform.
Through the expanded integration, advisors using Tamarac can now automate fixed-income trading processing via Flyer’s Co-Pilot order management system (OMS). A more efficient fixed income trading capability allows advisors to streamline pre- and post-trade processing for fixed income securities along side equity and mutual fund orders, all within Tamarac.
“We look forward to continuing this successful partnership with Flyer—and providing our valued advisors with additional trading capabilities so they can spend less time manually handling trades, and spend more time serving their clients and building their businesses,” said Andina Anderson, Executive Managing Director at Envestnet | Tamarac.
In the announcement, Envestnet and Flyer claim that advisors can now optimize middle- and back-office fixed income workflows via a variety of features, including aggregating and blocking orders into a staging blotter, entering characteristic-based orders with CUSIP support, capturing trade execution information in a working order blotter, and allocating block trades into individual client accounts at custodians.
Tamarac users will be able to trade with multiple custodians and brokers through a centralized OMS and the Flyer Trading Network, a multi-asset trading network.
The enhancements should allow advisors to eliminate time-intensive and error-prone processes around fixed income trading, according to the announcement.
“Advisors are looking for better, more effective ways to allocate to the fixed-income asset class in client portfolios. At Flyer, we’re proud to partner with Tamarac to offer advisors this solution,” said Flyer COO Bradley Kellogg in comments released on Tuesday. “Flyer’s expanded offering with Tamarac furthers our collective goal of providing advisors with the fastest way to execute their investment decisions.”