A TAMP, also known as a turnkey asset management platform, is a cloud application that makes it easier for investment managers to handle clients’ assets and investment portfolios.
While TAMPs actually got their start in the 1980s, the technology, of course, is ever more sophisticated today. The TAMP market has grown significantly, and said platforms now hold well over $3 trillion in managed wealth.
With the technology more accessible (and necessary) than ever, investment advisory firms should consider TAMPs..
There are two main types of Turnkey Asset Management Programs (TAMPs):
1. Product TAMP – Offers proprietary investment strategies and in-house research.
2. Platform TAMP – Provides technology that allows access to third-party investment strategists.
The key difference lies in their focus: a product TAMP controls its own investment offerings, while a platform TAMP acts as a technology hub for external strategies.
When evaluating advisor technology solutions, understanding these distinctions is essential.
When you hear something is 'turnkey', just think "it's ready for use right now.
.jpeg)
It's like a car. To start it, all you have to do is turn the key in the ignition, and off you go. You don't have to worry about assembling the car; the car is already built. A simple turning of the key puts you on your way.
Ironically, starting a newer car today is even more turnkey than turning a key; it's literally pressing a button!
And that's what TAMPs are like. It's literally pressing a few buttons, and you have what you need.
A TAMP is "turnkey" because it eliminates tasks you and your team would otherwise handle manually. The provider manages these functions, freeing up your time for client growth and revenue-generating activities.
While offerings vary by provider, common turnkey features include:
With a TAMP, you log in to a centralized platform—no manual data entry or custodian file uploads. Everything is streamlined and ready to use.
Not all TAMPs offer every feature listed, and quality varies by provider.
Additionally, product TAMPs and platform TAMPs differ in their approach (e.g., in-house strategies vs. open architecture), and there can be further distinctions within each category.
Always evaluate options carefully to match your firm’s needs.
Most TAMPs charge based on **basis points (bps)**—a percentage of your assets under management (AUM).
While common, this model doesn’t always reflect the actual workload:
- When markets rise, fees increase even if service demands stay the same.
- When markets fall, fees decrease—but prolonged downturns may strain the provider’s ability to maintain service quality due to revenue losses.
Some TAMPs offer fixed-fee pricing, which avoids AUM-linked fluctuations and aligns costs with your specific needs.
Short-term (e.g., 1-year) contracts provide flexibility but may lack cost savings.
Long-term contracts can reduce fees but may impose penalties for early termination.
Choose based on your certainty about the platform’s fit for your firm.
Many TAMPs bundle services, forcing you to pay for unneeded features. Look for providers that offer **à la carte pricing**, ensuring you only pay for what you use.
Some TAMPs offer software-only solutions, leaving you to manage setup and support—often at an extra cost.
The best providers combine technology with dedicated human support, ensuring assistance is available when needed.
Switching between TAMPs (or onboarding to one for the first time) can be complex due to a number of factors:
Empaxis simplifies TAMP migrations by:
Our expertise is backed by years of exclusively focusing on buy-side wealth and asset management firms and their data, investment operations, and the technology those firms use.
Whether you’re moving to a new TAMP or optimizing your current setup, Empaxis ensures a seamless transition so you can focus on clients, not tech hurdles.
TAMPs are enhancing investment management by streamlining and simplifying technology and operations in the cloud with better integrations, data and reporting, and advanced autonation, to name a few examples.
All this improves scalability to free up advisors' time to focus on growth.
Firms relying on outdated, localized systems risk falling behind competitors using cloud-based, turnkey solutions.
And Empaxis supports firms to ensure they leverage the right TAMP technology without disruption.
Want to learn more? You can chat with us! Contact Empaxis for a free consultation.
Our monthly newsletter features helpful resources, articles, and best practices to implement within technology providers and investment firms
