Contents

Introduction

Workflow Steps: Transition an Existing Tamarac Account to TUMA

 

Introduction

With Tamarac’s Envestnet Unified Managed Account (TUMA) integration, you can seamlessly transition existing Tamarac accounts to Tamarac UMAs through the Envestnet Proposal tool.

This topic provides steps to create a new proposal in Envestnet to transition one or more existing Tamarac accounts to a Tamarac UMA on Envestnet.

For more information about this integration, see Envestnet Unified Managed Account Integration.

For assistance, contact Tamarac Account Management at TamaracAM@envestnet.com.

Workflow Steps: Transition an Existing Tamarac Account to TUMA

1.

Select Accounts and Launch Proposal

To select the Tamarac account(s) or group you want to transition to Envestnet UMAs:

  1. On the Tamarac platform, open the Accounts page.

  2. Select one or more accounts that you want to convert to a TUMA. To convert an entire household, select the Reporting Group.

  3. From Actions, select Create new proposal.

    The Envestnet Proposal tool creation page opens.

2.

Create a Proposal

To create a TUMA-specific proposal:

  1. In the Envestnet Proposal tool, enter the Proposal title and primary member details.

    • Proposal title. The name you enter here appears on the Envestnet Proposal documents. Typically, you can use the family's last name.

    • Client/Household title. This name appears throughout the Envestnet platform so that you can identify this household.

    • Primary member. This is the individual or entity who owns the financial account. You can specify the Family member who is the primary member. You can also enter an Entity member and list the name of the organization or trust.

      For more information about these options, see the Envestnet Help Center.

  2. From the Sourcing Accounts list, select accounts to establish on Envestnet. When transitioning, be aware that:

    • Closed accounts are disabled.

    • You can transition multiple accounts in one proposal for one client.

    • You can partially fund the UMA in Envestnet from multiple Tamarac accounts. Later in the proposal, you'll designate how you want to handle the accounts.

  3. Select Create the proposal. After creation, select View the proposal.

3.

Configure the Proposal >

Set up the Proposal with the specific configuration to create Tamarac Unified Managed Accounts.

You must complete each step in the Proposal tool to initialize the TUMA accounts and to generate the Statement of Investment Selection (SIS) on Envestnet.

4.

Promote a Proposal to In Good Order >

The proposal must be in good order (IGO) before you can complete the process. Use these steps to make sure the proposal is IGO.

5.

Upload the Signed Statement of Investment Selection (SIS) to Envestnet

Select Upload SIS and follow the steps to upload the signed Statement of Investment Selection (SIS) to Envestnet.

6.

Add the Custodian Details to Envestnet

To add the custodian details:

  1. Select Input Custodial Account Number and follow the steps to add the custodian account number so that Envestnet can trade the account.

  2. Ensure that the account at the custodian is coded with Envestnet’s G number for trading.

    For more information about how TUMA accounts work with each custodian, refer to the Envestnet Platform Playbook. To access the playbook, from Envestnet select Platform then select Envestnet Platform Playbook.

Next Steps

Once you’ve established Tamarac UMAs, you administer them on the Envestnet platform. You can:

For more information, see Manage Tamarac UMAs on the Envestnet Platform.