Fintech firm Broadridge has announced a new offering that will work to extend market access to securities-based lending via an end-to-end SBL technology platform while also helping to connect wealth managers to banks and other significant financial institutions. The Bancorp, Inc. will be joining the Wealth Lending Network marketplace as an inaugural funding partner.
Mike Alexander, President of Wealth Management, Broadridge, said:
The Wealth Lending Network is an exciting evolution of the market’s dynamic – connecting the supply-and-demand sides on a trusted lending platform that creates value for lenders, advisors and their clients.
Mike Alexander also explained that SBL credit has proven appealing to borrowers and lenders as its demand has continued to grow. Lenders have been turning to SBL due to its advanced revenue stream driven by a low cost of capital and low-risk profile. At the same time, while the function also suits borrowers who look to access liquidity in portfolios.
The new Broadridge Wealth Lending Network hopes to extend existing lending models and in turn, enable financial institutions to offer advanced SBL to their clients on a turnkey basis. This function will work to serve institutions such as independent broker-dealers, financial advisors and RIAs.
Through flexible credit offerings, advisors will now be able to deepen relationships with their clients, enticing additional assets and safeguarding already established AUM. Digitisation has meant that what had always been a taxing, manual process is now an efficient and frictionless customer experience and will make business significantly more streamlined and well-rounded regardless of company size.