Case Study: Shufro Rose achieves digital transformation and enhanced client engagement with Envestnet | Tamarac

How a wealth management firm with more than 80 years of experience evolved with technology

Shufro Rose, an independent New York wealth management firm founded in 1938 with $1.8 billion AUM and over 1,300 households, faced legacy-technology and workflow challenges as it shifted from an IBM AS400 system to a goals-based wealth management approach. To modernize operations and client engagement, the firm partnered with Envestnet | Tamarac and implemented Tamarac Reporting®, Tamarac Trading®, and Tamarac CRM®, later activating the Tamarac Client Portal and exploring integration with Envestnet | MoneyGuide.

Envestnet | Tamarac helped Shufro Rose optimize platform adoption with training, client success support, and day-to-day assistance, enabling a paperless Client Portal that eliminated printing thousands of year-end reports and improved real-time client communication. The partnership boosted operational efficiency, supported centralized governance with a dedicated Platform Manager, and positioned the firm to scale its goals-based planning and client service across its 1,300+ households and $1.8B in AUM.

Shufro Rose

Thomas Kwon

Platform Manager