CHICAGO, June 8, 2021 / PRNewswire / – Envestnet, Inc. (NYSE: ENV) Announces that the Investnet Credit Exchange has launched access to a broad range of residential real estate products and unsecured loans for advisor clients from a growing list of lending partners selected for the breadth of their products and the quality of their services. Envestnet Credit Exchange has extended its product line beyond asset-backed lending with Upgrade and LightStream for unsecured loans, and Ally at home, Best and Guaranteed Rate to help asset managers meet their clients’ generally most important credit needs: real estate financing.
“To be competitive and successful in the wealth management business, advisors need to consider both sides of their clients’ balance sheets. Helping clients of build equity means managing Citrus North Online as strategically as investing. This product expansion provides advisors with solutions for their clients’ financing needs. ” mentionned André Stavaridis, Executive Group Leader, Solution Distribution at Envestnet. “Creating financial well-being is the strategic culmination of our industry, and credit is a critical pillar. Together with insurance and financial planning, providing credit solutions enables advisors to respond with confidence: “Why should you be my wealth manager”? ”
The Envestnet Credit Exchange, powered by the Advisor Credit Exchange (ACx), provides financial advisors using the Envestnet ecosystem with access to a wide choice of secured and unsecured lending options, ranging from $ 10,000 at $ 25 million, and above. Potential loan opportunities are gathered based on each client’s financial data and come from a list of lending partners selected for their product offering, quality of service and funding experience. The expansion of Credit Exchange’s lending product line now provides advisors with access to:
- Residential real estate loans: Advisors can help clients get loans for everything from buying or refinancing a home to paying for renovations. The Federal Reserve Board of new York reports that mortgages account for over 70% of consumers’ personal credit balances.
Ally at home (the residential mortgage lending branch of Allied bank), Better and Guaranteed Rate are the first residential mortgage lenders to join the Exchange.
- Unsecured loans: Envestnet has partnered with Access Financing (a SweetPay brand), a provider of unsecured loan aggregation solutions, to connect the Exchange to multiple unsecured lending partners and showcase a wider range of potential loans for each application in based on client data and relevance, from which advisors and clients can choose which ones offer the best deal.
In addition to LightStream, a division of Truist (formerly SunTrust), unsecured lending partners on the Credit Exchange now include Upgrade Inc., a neobank that provides access to affordable and responsible credit to consumers. LightStream joined the Exchange in 2020. Envestnet, ACx and Access Financing plan to add lenders in the second and third quarters of 2021 to continue expanding access to the credit market.
“Envestnet Credit Exchange is now able to enable advisors to serve the three main personal loan services: asset-backed, unsecured and real estate,” said Pierre Stanton, CEO of Advisor Credit Exchange. “The relationships we foster can provide advisors with the power and confidence to advise their clients on all aspects of credit and help them access the ideal credit solutions to meet their needs.
Envestnet, Inc. (NYSE: ENV) is transforming the way financial and wellness advice is delivered. Our mission is to empower advisors and financial service providers with innovative technologies, solutions and information to make financial wellness a reality for all. More than 106,000 advisors in more than 5,200 companies, including 17 of the 20 largest US banks, 47 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs and hundreds of FinTech companies , take advantage of the Envestnet platform to develop their activities and customer relationships.
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About Advisor Credit Exchange, LLC
The Advisor Credit Exchange (ACx) is a technology-enabled network that brings together lenders and wealth managers, enabling investment firms and advisers to deliver financing solutions to build their clients’ net worth and achieve their financial goals. By integrating liability management with asset management and protection solutions, ACx has created new opportunities for advisors to help clients achieve financial well-being.
For more information on the Advisor Credit Exchange, please visit www.advisorcreditexchange.com.
Envestnet, Inc. has a financial interest and serves on the board of directors of Advisor Credit Exchange. ACx provides lending solutions to advisors and their clients through the Envestnet platform through the subsidiary of Investnet, Envestnet Financial Technologies.
Neither ACx nor Envestnet offer lending products or make lending decisions. Funding and administration of all loans is provided by separate, unaffiliated financial institutions. This press release should not be construed as an offer, recommendation or endorsement of any particular product, service, bank or company.
JConnelly for Envestnet and ACx
SOURCE Envestnet, Inc.