CHICAGO, Sept. 25, 2013 /PRNewswire/ -- Envestnet | Tamarac, part of Envestnet, Inc. (NYSE: ENV), a leading provider of unified wealth management technology and services to investment advisors, has created a sophisticated composite reporting tool that enables advisors to quickly and accurately compile composite reports that compare the performance of their investment strategies to market indices. This new functionality makes it easy for advisors to demonstrate the value of their model portfolios to both clients and prospective clients, and create composites that conform to industry best practices. (Logo: http://photos.prnewswire.com/prnh/20130919/MM83257LOGO ) The tool is available through Advisor View®, an elegant portfolio reporting and billing application, offering portfolio performance, analytics, and allocation reports with real-time custodial data. Advisor View is an integrated application within Envestnet | Tamarac's Advisor Xi® suite, a web-based platform that uniquely integrates best-in-class portfolio management, rebalancing, trading, reporting, billing and client relationship management (CRM) software. Advisor View's new composite reporting functionality is integrated with the trading and portfolio accounting systems, allowing advisors to accurately and seamlessly create precise composites without having to export all their data. "Until now, the process of compiling composite reports has been a manual, time-intensive task with the potential for inaccuracies. For advisors, reporting performance to investors is a fundamental component of their practice, and we believe this powerful tool will help boost their efficiency and profitability," said Stuart DePina, Group President, Envestnet | Tamarac. "We are transforming the way composite reporting is done by eliminating the manual labor and guesswork for advisors, and providing a valuable marketing and advertising tool for prospective clients." For example, one of the difficulties in managing composites is that rules for determining which portfolios should be included in a composite vary from advisor to advisor. Advisor View allows advisors to specify criteria and filter, such as by strategy, advisor or fees, to determine which accounts are used in a composite report. The system then allows accounts to automatically flow in and out of composites as account characteristics change. The automation Advisor View provides around composite reports shaves days off a process that is typically done manually, making the reports much more accessible for advisors.