Please note: This article reflects a previous version of the Envestnet Tamarac integration. Updated documentation is currently in development and will be published when available. For questions in the meantime, please reach out to your Client Success Manager or Practifi Support.
Overview
Our Tamarac integration keeps designated Practifi records in sync with the corresponding records in your Tamarac instance, so your team works from one consistent view of clients and accounts rather than maintaining the same data in two places. This article outlines the integration, explains how to use it, and details the data field mapping between the two systems.
Please note: This functionality will not be available in your organization unless the integration is enabled. For information on enabling the integration, please consult our Enabling the Envestnet Tamarac Integration article.
Integration Summary
Our integration with Tamarac allows you to keep your Practifi Clients and Asset records in sync with Tamarac’s Households, Clients, and Accounts. It also provides deep links from Practifi directly into Tamarac records, so you can move between the two systems without losing your place. The information flow between systems functions as follows:
| Practifi | Sync | Tamarac |
|---|---|---|
| Client | Real-time | Household |
| Asset | Manual | Account |
Using the Integration
Please note: Tamarac’s Salesforce app does not support Person accounts because of how Tamarac integrates with Salesforce. This means that Individual records within Practifi will not work with receiving data from the Tamarac integration. We recommend that any Client synced with the Tamarac integration is within either a Household or an Organization to avoid this limitation.
Sending Clients to Tamarac
The Tamarac Salesforce app lets you send and view a linked Household in the Tamarac Reporting portal from within Practifi, using the Create in Tamarac and Open in Tamarac links.
Please note: This feature is only accessible to a user login that meets the following two criteria:
- Must have an Enterprise Administrator account in Tamarac and
- Must be a Practifi user with the System Administrator Profile with the Customize Application permission assigned.
If meeting the above requirements would create compliance or security issues for your firm, do not activate the SSO feature and remove the Create in Tamarac and Open in Tamarac links. To view a Practifi client in Tamarac, open a separate browser tab, log in directly to your Tamarac account, and search for the client.
If you can proceed:
- Navigate to the Client record you wish to send.
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From the dropdown arrow, click the Create in Tamarac link.
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(Client only) Select the People you wish to send alongside the Client, then click the Create Household in Tamarac button.
Please note: Each contact that is sent to Tamarac must have a unique email address. You might encounter an error if there are two contacts with the same email address in Practifi and you attempt to send both of them to Tamarac. Tamarac does not allow multiple clients with the same email address.
- You’ll receive a confirmation message. The Open in Tamarac link will allow users to view the client in Tamarac Reporting.
Updating and Viewing Records
Whenever a synchronized field on the Client or Client Person record is updated in either Practifi or Tamarac Reporting, the update is sent to the other system in real time, so both teams continue to work from the same information.
Clicking the Open in Tamarac link, located under the dropdown arrow in Practifi, will open the client’s Tamarac Reporting record in a new browser tab.
Syncing Assets (Tamarac Financial Accounts) Into Practifi
To sync Assets from Tamarac, the Financial Accounts and the related Households in Tamarac must be linked in Practifi. This link can be established from the Tamarac portal.
- Log in to the Tamarac portal.
- Go to Accounts and select Households.
- Click the Household in Tamarac that should be linked to a Household in Practifi.
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Select the Settings tab and click the Add CRM Household button.
- A Link CRM Household window will appear, and search for the Household name shown when you clicked the button. If the search returns the correct match, select the CRM Household Name and click the Link Selected Household button. If the Household in Practifi has a different name than the Household in Tamarac, update the search term and try again.
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Please note: Upon linking the Tamarac Household, the Household Name in Tamarac will be updated to the Practifi Household name if the two differ.
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After linking the households, click Save.
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Once the Households have been linked, commence a synchronization. Select the Setup tab and click Sync from Portfolio Accounting System.
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From the Sync From Portfolio Accounting System window, click Sync.
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Data sync will start, and the panel will show its progress.
- Once the sync is completed, the Tamarac Assets (Financial Accounts) will appear under the Financials > Assets tab of the corresponding linked Household in Practifi, giving advisors a current account-level view alongside the rest of the client’s record.
Receiving Assets From Tamarac
Assets are sent whenever a portfolio accounting sync is done in Tamarac Reporting. To initiate one manually:
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Navigate to the Sync From Portfolio Accounting System page from the Setup menu.
- Define the day range and other options, then click Sync.
- The Account records of all Households synchronized with Practifi will either be sent into the system or have their values updated if they already exist, keeping asset data current without manual re-entry.
Field Mapping
The following are the minimum mappings for integration with Practifi.
Client - Household
| Account (Practifi) | Household (Tamarac) |
| Account Name | Name |
| Billing Street | Street |
| Billing City | City |
| Billing State/Province | State/Province |
| Billing Zip/Postal Code | Zip |
Client Person - Client
| Contact (Practifi) | Client (Tamarac) |
| First Name | First Name |
| Middle Name | Middle Name |
| Last Name | Last Name |
Asset - Account
| Asset Liability (Practifi) | Financial Account (Tamarac) |
| Description | Account Name |
| Account Number | Account Number |
| Notes | Account Type |
| Current Value | Total Value |
Enhanced Data Model
With our Albariño release, we have added fields to enhance the Tamarac integration, surfacing portfolio details like custodian, contributions, withdrawals, and revenue alongside the rest of the client picture in Practifi. The new fields appear in the Basics section on Assets. Fields are conditionally displayed, so records that don’t have data to present won’t have these fields visible on their record pages.
Implementation Details
The following Lightning pages have been modified to add these fields as part of this enhancement:
- Asset/Liability Record Page
If your firm has customized the above page, an administrator will need to either copy the changes into your customized version or switch to the Practifi version and reapply them.
Please note: In the tables below, field names in italics are editable fields; all other fields are read-only.
Asset/Liability
| Name | Field Type | Help text | Notes |
| Custodian Name | Text (255) |
|
|
| Contributions Last Year (Rolling) | Currency (12,2) | The amount paid into the asset in the last 365 or 366 days. May include securities receipts, depending on the portfolio management tool used. |
|
| Revenue Last Year (Rolling) | Currency (12,2) | The total amount of fees received for managing this asset in the previous 365 or 366 days. | Management Fees |
| Withdrawals YTD | Currency (12,2) | The total value of cash withdrawals made so far this year. Used to calculate whether eligible assets have met their Required Minimum Distribution for the year (if enabled). |
|
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