Envestnet | Tamarac and trading automation firm FIX Flyer, LLC announced on Tuesday their integration is now available. The integration brings together the Tamarac platform with Flyer’s Co-Pilot order management system and the Flyer Trading Network.
The partnership is meant to provide advisors with an advanced solution for trading equities, ETFs, mutual funds and other asset classes, as well as the ability to access broker trading algorithms to connect with brokers and allocate trades. The integration is also meant to provide advisors a more comprehensive, seamless experience while helping eliminate high-risk errors.
With the integration, trades can be executed with one click across multiple brokers and custodians, and automatically allocated within Co-Pilot (rather than across multiple applications), according to a prepared statement. There is also support for ‘tradeaways’ directly within the software, which the firm stated can eliminate the “calls, emails and spreadsheets typically required to manage orders.” The integration also supports smart allocation, meaning advisors can now support more sophisticated allocation workflows, and thereby reduce ticket charges and overrides select allocation methods.
Flyer now has integrations with several large platforms (and/or their rebalancing technology) including Morningstar, Orion and most recently Riskalyze.
