A side-by-side comparison of the leading turnkey asset management platforms — and what your data strategy should look like regardless of which TAMP you choose.

A TAMP (Turnkey Asset Management Platform) provides outsourced investment management, model portfolios, trading, and reporting — allowing advisory firms to delegate portfolio construction and focus on client relationships. TAMPs have evolved from simple model delivery into full technology ecosystems. The question for most firms is no longer just "which TAMP?" but "how does my TAMP data connect to everything else?"

What to Evaluate in a TAMP

Selecting a TAMP involves more than comparing investment menus and fee schedules. The operational and technology implications of TAMP selection affect how your firm runs its advisory practice, how data flows across your stack, and how your clients experience their investment reporting. The criteria below represent the evaluation dimensions that matter most for RIAs in 2026.

01

Investment breadth

Does the TAMP offer the model portfolio spectrum your clients need — including UMAs, direct indexing, alternatives, and multi-manager options?

02

Technology integration

Does the TAMP connect cleanly to your CRM, custodians, and planning tools — or does it create a data silo that requires manual reconciliation?

03

Fee transparency and total cost

What is the all-in cost to the client? Investment management fee, platform fee, and underlying fund expenses should all be accounted for.

04

Data portability and ownership

If you change TAMPs, does your data come with you? Who owns the data model, and what access do you have to raw performance and holdings data?

05

Trading and rebalancing sophistication

How does the platform handle tax-loss harvesting, drift management, household rebalancing, and transition management from a prior custodian or manager?

06

Transition and onboarding support

What does the TAMP provide when onboarding new clients or transitioning assets from a prior manager? Transition support quality varies significantly.

The Leading TAMP Platforms

The TAMP market is concentrated, with a handful of large platforms accounting for the majority of AUM. Each has distinct strengths that make them more or less suitable depending on a firm's client profile, technology stack, and operational model. The profiles below reflect the platforms as they stand in 2026.

Envestnet | PMC

Largest TAMP by platform assets (~$4.7T). Strong breadth of investment options including UMAs, direct indexing, alternatives, and third-party strategists. The Envestnet ecosystem includes Tamarac for portfolio management, MoneyGuide for financial planning, and Yodlee for data aggregation — making Envestnet one of the most complete integrated stacks in the market.

Strengths

Investment breadth across model types; integrated data ecosystem including insurance and annuity data; wide distribution through broker-dealers and RIAs

Considerations

Data remains within Envestnet infrastructure; firms using non-Envestnet tools face integration gaps that require a separate data layer

Orion Portfolio Solutions (Brinker Capital)

Top-ranked TAMP for technology integration. Orion's acquisition of Brinker Capital brought institutional investment management into a deep technology ecosystem. Portfolio Solutions offers behavioral finance-informed investing, custom indexing, the Denali AI platform, and a wide range of model portfolios — all connected to Orion's core platform for reporting and rebalancing.

Strengths

Deep integration with Orion platform; behavioral finance tools; custom indexing capability; Denali AI for analytics and client insights

Considerations

Strongest for firms running an all-Orion stack; multi-vendor firms may find TAMP data siloed from non-Orion systems

AssetMark

Approximately $115B in AUM, built on a high-touch consultative model that differentiates AssetMark from more technology-forward peers. AssetMark offers a wide range of third-party strategists, a robust transition support infrastructure, and white-labeled client experience tools. It has historically served advisors who want a strong service relationship alongside investment management.

Strengths

High-touch consultative approach; wide range of third-party strategists; robust transition support for onboarding new client assets

Considerations

Less technology-forward than Envestnet or Orion; data integration with non-AssetMark tools is limited without a separate data layer

SEI

SEI brings institutional-grade investment infrastructure to the TAMP market. Its architecture emphasizes compliance, fiduciary process, and enterprise-level operations — making it a common choice in the bank and trust channel. SEI's investment management heritage runs deep, and its operational model is purpose-built for firms that prioritize regulatory rigor and institutional oversight.

Strengths

Enterprise operations; compliance-first architecture; strong positioning in the bank and trust channel; institutional investment management depth

Considerations

Higher implementation complexity; less advisor-technology focused than peers; may be more than independent RIAs need operationally

Adhesion Wealth

A UMA specialist with sophisticated tax overlay capabilities and multi-custodian flexibility. Adhesion operates as an overlay manager rather than a full-platform TAMP, giving advisors significant flexibility in how they construct and manage unified managed accounts — including the ability to combine multiple managers within a single UMA sleeve structure.

Strengths

Sophisticated UMA construction; tax overlay capabilities; works across multiple custodians; flexibility in manager selection within UMA structure

Considerations

Narrower scope than full-platform TAMPs; firms need separate solutions for reporting, planning, and CRM alongside Adhesion's overlay management

TAMP Platform Comparison

The table below compares leading TAMP platforms on the dimensions most relevant to RIA evaluation in 2026. The final row reflects how Milemarker can sit alongside any TAMP, connecting TAMP data with the rest of a firm's technology stack.

Envestnet | PMC

• AUM Scale: ~$4.7T platform assets

• Investment Options: UMAs, direct indexing, alts, third-party strategists

• Technology Integration: Strong within Envestnet ecosystem; gaps outside it

• Data Portability: Within Envestnet infrastructure

• AI / Analytics: Envestnet data network; ecosystem analytics

Orion Portfolio Solutions

• AUM Scale: Large; combined with Orion platform

• Investment Options: Behavioral models, custom indexing, multi-manager

• Technology Integration: Deep with Orion core; limited for non-Orion tools

• Data Portability: Within Orion infrastructure

• AI / Analytics: Denali AI; Orion-ecosystem scope

AssetMark

• AUM Scale: ~$115B AUM

• Investment Options: Third-party strategist breadth; balanced range

• Technology Integration: Limited outside AssetMark ecosystem

• Data Portability: Within AssetMark infrastructure

• AI / Analytics: Basic analytics; consultative focus

SEI

• AUM Scale: Enterprise scale

• Investment Options: Institutional investment management

• Technology Integration: Compliance-first; complex for independent RIAs

• Data Portability: Within SEI infrastructure

• AI / Analytics: Institutional-grade; bank/trust channel focus

Adhesion Wealth

• AUM Scale: Growing; UMA specialist

• Investment Options: UMA overlay, tax management, multi-manager

• Technology Integration: Multi-custodian flexibility; narrow platform scope

• Data Portability: Within Adhesion infrastructure

• AI / Analytics: Overlay analytics; no full-stack analytics

Your firm + Milemarker

• AUM Scale: Works with any TAMP

• Investment Options: Connect any TAMP's investment data

• Technology Integration: 130+ integrations: TAMP, CRM, custodians, planning

• Data Portability: Your own Snowflake warehouse

• AI / Analytics: AI across your full stack — not TAMP-siloed

Milemarker does not replace any TAMP. It connects TAMP data alongside every other system in a firm's stack — giving firms unified analytics and AI capabilities that no single TAMP's native tools can deliver on their own.

The Missing Layer: Your Data Strategy

Every TAMP keeps data within its own ecosystem. Envestnet analytics reflect Envestnet data. Orion Portfolio Solutions analytics reflect Orion data. AssetMark's reporting reflects AssetMark's data model. This is not a flaw — it's the natural architecture of closed platforms optimized for their own workflow. But it creates a structural problem for firms that run a TAMP alongside Salesforce, multiple custodians, eMoney, and other tools: the TAMP's analytics reflect only a portion of the firm's picture.

Firms using a TAMP alongside Salesforce for CRM, Schwab or Fidelity as custodians, and financial planning tools face the same challenge regardless of which TAMP they choose: TAMP analytics reflect TAMP data, not the whole firm. Answering questions like "which clients have growing held-away assets relative to their plan?" or "which households are underserved relative to their revenue contribution?" requires connecting data that no single TAMP controls.

Milemarker connects TAMP data alongside 130+ other integrations in a Snowflake warehouse the firm owns. TAMP portfolio data flows in alongside Salesforce CRM data, custodian feeds, financial planning projections, and operational data — normalized against a wealth management-specific data model so your analytics team can answer questions that span every system.

TAMP Analytics in a Silo

TAMP reports on TAMP-managed assets only

CRM, custodians, and planning tools unconnected

Held-away assets invisible to TAMP analytics

No cross-system view of client financial picture

Data stays within TAMP vendor infrastructure

TAMP Data Connected to Your Full Stack

TAMP data joined with CRM, custodians, planning tools

Complete household view across all assets and systems

AI and analytics span every integration, not just TAMP

Data lives in a Snowflake warehouse your firm owns

Works with Envestnet, Orion, AssetMark, SEI, or any TAMP

Milemarker works with any TAMP. Whether your firm uses Envestnet, Orion Portfolio Solutions, AssetMark, or SEI, Milemarker connects the TAMP's data alongside every other system in your stack — without disrupting the TAMP relationship or requiring any changes to your investment management workflow.

Frequently Asked Questions

What is a TAMP?

A TAMP, or Turnkey Asset Management Platform, provides outsourced investment management services to advisory firms — including model portfolios, trading, rebalancing, and reporting. TAMPs allow advisors to delegate portfolio construction to a third party and focus on client relationships and financial planning. Over time, leading TAMPs have evolved from simple model delivery into integrated technology ecosystems with their own reporting, CRM, and analytics tools.

Which TAMP has the largest market share?

Envestnet is the largest TAMP by platform assets, with approximately $4.7 trillion in assets across its platform as of 2025. Envestnet's scale reflects its broad distribution network, range of investment options, and integrated ecosystem that includes Tamarac, MoneyGuide, and Yodlee. AssetMark and Orion Portfolio Solutions (formerly Brinker Capital) are also significant players in the TAMP market.

Can I use Milemarker with my TAMP?

Yes. Milemarker is designed to work alongside any TAMP — Envestnet, Orion Portfolio Solutions, AssetMark, SEI, Adhesion Wealth, or others. Milemarker connects TAMP data alongside your CRM, custodians, financial planning tools, and other systems in a Snowflake data warehouse your firm owns. Using Milemarker does not require changing your TAMP relationship.

Do I need to switch TAMPs to use Milemarker?

No. Milemarker is not a TAMP and does not replace any TAMP. It is a unified data platform that connects TAMP data alongside every other system in your stack. Your firm continues using its TAMP for investment management, model delivery, and trading. Milemarker adds the data and analytics layer that connects TAMP reporting with your CRM, planning tools, and custodian data in one place.

How does Milemarker connect TAMP data to other systems?

Milemarker maintains pre-built integrations with leading TAMPs and normalizes their data against a wealth management-specific data model in a Snowflake warehouse your firm owns. TAMP portfolio data is loaded alongside CRM data (Salesforce, Redtail, Wealthbox), custodian feeds (Schwab, Fidelity, Pershing), financial planning data (eMoney, MoneyGuidePro, RightCapital), and 130+ other sources — enabling cross-system analytics that TAMP-native reporting cannot deliver.

What does a TAMP cost?

TAMP fees are typically structured as a basis point charge on assets under management, often ranging from 10 to 50 basis points depending on the platform, investment strategy, and negotiated arrangement. Some TAMPs include technology platform fees in addition to investment management fees. Total cost of a TAMP relationship should include the investment management fee, platform fee, any underlying fund expenses, and the firm's own advisory fee — all of which affect the client's net return.

Related guides

Part of the Platform Comparisons series:

• Orion Summit Alternatives: Data & Analytics Platforms for Advisory Firms

• Envestnet Tamarac Alternatives: Portfolio & Data Platforms Compared

• Best WealthTech Platforms in 2026: A Category-by-Category Guide

• The Modern WealthTech Stack: A Complete Guide for Advisory Firms

• Milemarker Relay vs Zapier

• Advyzon Alternatives & Complements: Portfolio, Data & Analytics Platforms Compared