Broadridge Financial Solutions has announced its partnership with IntraFi to offer a streamlined securities-based lending service for banks, brokerage firms, and wealth management firms. The Fintech firm said it has seen a growing demand for wealth lending and securities-based lending (SBL) in particular.
Formed in 2002, IntraFi connect banks, brokerage firms, RIAs, and their customers. Under the partnership agreement, members of the banking network will gain access to Broadridge’s lending technology. Furthermore, they will also be able to offer loans to customers of independent brokerage firms, financial advisors, and registered investment advisors (RIAs) through the Broadridge Wealth Lending Network.
Mike Alexander, President of Wealth Management, Broadridge, said:
Broadridge’s partnership with IntraFi expands the availability of securities-based lending to previously underserved parts of the market — community and regional banks, independent broker-dealers, and unaffiliated advisors and RIAs.This innovative joint solution for banks brings more capital to bear in the securities-based lending business and increases the potential to expand access to streamlined liquidity options through the Broadridge Wealth Lending Network.
Mark Jacobsen, Cofounder and CEO of IntraFi, added:
We’re pleased that we can offer access to Broadridge’s products to thousands of banks and other financial institutions in our network. This partnership is a natural extension of our flexible balance sheet management service.
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