This publication covers latest news and developments around technology in the North America wealth management sector.

Wealth management technology firm Envestnet | Tamarac has launched an app on the Salesforce AppExchange, a marketplace for such services, aimed at the registered investment advisor sector.

Envestnet | Tamarac says such technology frees up advisors from time- consuming chores, allowing them to spend more time with clients and in finding new ones, hence boosting productivity and profits at a time when the industry continues to face regulatory and other cost pressures.

“Advisors can lose hours of productivity if their CRM and portfolio reporting applications are not in sync, exponentially increasing the time it takes to enter data between systems and servicing their clients,” Stuart DePina, president of Envestnet | Tamarac. "With this new integration, we're providing advisors with more choices regarding their CRM platform, while streamlining their regular workflows and enabling them to provide a higher level of service to their investor clients," he said.

According to a recent Aite Group study, independent RIAs with advanced technology integration allocate nearly 19 per cent more time to client investment management compared to their peers with basic or no integration. Additionally, independent RIAs with advanced technology integration benefit from a 50 per cent increase in advice activity, which translates into 57 per cent more clients served, 78 per cent larger books of business and 46 per cent greater practice revenue compared to their peers without advanced integration, according to the same study.