Key Takeaways
- • Envestnet announced a new document integration between its Tamarac platform and Canoe Intelligence, a Bloomberg company, automating delivery of alternative investment tax documents including K-1s and K-2s into Tamarac's Advisor Portal.
- • Advisors can push alternative investment documents to client portals in a single step, with no manual upload or re-entry required once the integration is enabled.
- • The integration covers more than two dozen mutual clients shared by Canoe and Envestnet | Tamarac, each of whom can opt in at their discretion.
- • The launch builds on an automated data feed the two companies built together the prior year, extending their partnership on alternative investment workflows.
Summary
Envestnet, described as the leading Adaptive WealthTech company, announced a document integration between Tamarac, its portfolio reporting, trading, rebalancing, and CRM platform for registered investment advisors, and Canoe Intelligence ("Canoe"), a Bloomberg company that provides intelligence infrastructure for alternative investments. According to the announcement, the integration automates delivery of alternative investment tax documents, including K-1s and K-2s, directly into Tamarac's Advisor Portal, where advisors can push them to clients' portals in a single step.
The companies frame the initiative as addressing a workflow gap. Alternative investments now sit alongside public holdings in nearly every wealth portfolio, but fund documents typically arrive scattered across general partner portals, email, and postal mail, requiring advisors to locate, download, and upload them manually before clients can view them. Canoe already serves as a collection point for these documents; the integration extends that function into the portal advisors and clients already use for public market holdings.
Todd Rais, Group Director, Investment Products & Services at Envestnet, said the company is "strengthening our alternative investment infrastructure and capabilities by integrating with partners to broaden the range of alts data available to advisors across our platform." Zack Helgeson, Head of Product at Canoe, said the integration "takes the manual work of collecting and delivering alts documents off advisors' plates entirely."
Canoe and Envestnet | Tamarac share more than two dozen mutual clients, all of whom can enable the integration at their discretion. Once activated, documents flow automatically via API. The launch follows an automated data feed the two companies built together the previous year. The announcement was issued via PR Newswire; the companies note that Canoe and Envestnet are separate and unaffiliated firms.
The companies frame the initiative as addressing a workflow gap. Alternative investments now sit alongside public holdings in nearly every wealth portfolio, but fund documents typically arrive scattered across general partner portals, email, and postal mail, requiring advisors to locate, download, and upload them manually before clients can view them. Canoe already serves as a collection point for these documents; the integration extends that function into the portal advisors and clients already use for public market holdings.
Todd Rais, Group Director, Investment Products & Services at Envestnet, said the company is "strengthening our alternative investment infrastructure and capabilities by integrating with partners to broaden the range of alts data available to advisors across our platform." Zack Helgeson, Head of Product at Canoe, said the integration "takes the manual work of collecting and delivering alts documents off advisors' plates entirely."
Canoe and Envestnet | Tamarac share more than two dozen mutual clients, all of whom can enable the integration at their discretion. Once activated, documents flow automatically via API. The launch follows an automated data feed the two companies built together the previous year. The announcement was issued via PR Newswire; the companies note that Canoe and Envestnet are separate and unaffiliated firms.
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