Tamarac, a division of web-based portfolio and client management software company Envestnet, has added its Advisor Xi platform to Pershing's NetX360 custodial channel.

Tamarac, a division of web-based portfolio and client management software company Envestnet, has added its Advisor Xi platform to Pershing's NetX360 custodial channel. The platform will available to advisors in the first half of 2014, according to a company statement.

Advisor Xi is a web-based platform that unifies portfolio management, rebalancing, trading, monitoring, model management and performance reporting with an enterprise-level client relationship management system and client portal, the statement said.

Advisors using Advisor Xi will be able to process equity and mutual fund trades on accounts custodied at Pershing, as well as have access real-time custodial account data.

Meanwhile, Tamarac said it is also working to integrate Advisor Xi into other custodial platforms to “abbreviate” portfolio management and trading processes for independent RIAs, regardless of where their client accounts are custodied.

Pershing is a BNY Mellon company.