Advisor Credit Exchange Announces New Executive Leadership Appointments

Rhea-AI Summary

ACE announces leadership changes with J.P. Connellan as CEO and Melanie Warner as COO and Head of Business Development. Former CEO Peter Stanton steps down and remains as strategic advisor. Connellan and Warner previously held senior positions at UBS and helped launch a strategic initiative between UBS and ACE.

Positive

• J.P. Connellan and Melanie Warner's appointment as CEO and COO could drive ACE's growth and strategic initiatives.
• Connellan and Warner's experience at UBS and their involvement in the strategic initiative with ACE could strengthen ACE's position in the market.

Negative

• None.

ACE names industry veterans J.P. Connellan as CEO and Melanie Warner as COO and Head of Business Development

BERWYN, Pa., Oct. 25, 2023 /PRNewswire/ -- Advisor Credit Exchange (ACE) today announced leadership changes that will drive the company's vision, growth, and strategic initiatives. J.P. Connellan joins ACE as CEO and Melanie Warner joins as COO and Head of Business Development. Former CEO and co-founder Peter Stanton has decided to step down from his role and will remain as a strategic advisor, continuing to be involved in key client relationships and strategic alliances.

Previously, Mr. Connellan and Ms. Warner held senior positions at UBS, where they established the firm's Independent Advisors Solutions Team. Together they helped launch a strategic initiative between UBS and ACE, whereby the advisors on ACE's platform can access UBS's cash management solutions to help manage their clients' assets and liabilities. This initiative will continue under this new management structure.

Other leadership appointments include Brett Barnes as Head of Business Development for the Western Division and Justin Taylor as Head of Business Development for the Eastern Division. Additionally, Jack McDonough joins the ACE team as a Business Analyst supporting business development efforts. Messrs. Barnes, Taylor, and McDonough also come to ACE from UBS's Independent Advisors Solutions Team.

"Having had the privilege to work closely with ACE over the past year, I am inspired by the innovation that defines this organization," said Mr. Connellan. "We look forward to expanding our strategic relationships, enhancing our consultative services, and taking ACE to the next level."

"J.P. has worked extensively with ACE's board for the past year, demonstrating a profound understanding of ACE's company dynamics and future opportunities," said Rich Aneser, Chief Strategy Officer at Envestnet. "His strategic vision and proven track record for driving business results are exactly what ACE needs to propel the company forward."

The ACE leadership team looks forward to expanding ACE's relationships with advisors and providers of lending and cash management products by deepening the engagement model and broadening the set of solutions available through the platform.

ACE provides access to securities-backed lines of credit, residential real estate and signature (unsecured) loans, commercial lending and lending on alternative asset classes from top lenders as well cash management solutions.  ACE's technology also powers the Envestnet Credit Exchange. ACE remains committed to becoming the premier banking and lending technology platform in the wealth management industry to help advisors grow their practices and meet their clients' needs.

For more information, please visit www.advisorcreditexchange.com.

About Advisor Credit Exchange

Advisor Credit Exchange (ACE) offers a technology platform that connects banks, lenders and wealth managers, enabling investment firms and advisors to access lending and cash management solutions to build their clients' net worth and meet their financial goals. By integrating access to cash and credit management solutions from leading providers with wealth management platforms, ACE creates new opportunities for advisors to help their clients achieve financial wellness.

For more information on Advisor Credit Exchange, please visit www.advisorcreditexchange.com and follow us on LinkedIn.

About Envestnet

Envestnet is transforming the way financial advice is delivered through an ecosystem of technology, solutions and intelligence. By establishing the connections between people's daily financial decisions and long-term financial goals, Envestnet empowers them to make better sense of their finances and live an Intelligent Financial Life™.  With more than $5.4T in platform assets – more than 107,000 advisors, 16 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs, and thousands of companies, depend on Envestnet technology and services to help drive better outcomes for their businesses and for their clients.

Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). For more information, please visit www.envestnet.com, and follow us on LinkedIn and X (@ENVintel). Neither ACE nor Envestnet offers loan products or cash management products or makes lending or cash management decisions.  The funding and administration of all loans and the administration of all cash management products is undertaken by separate financial institutions.

ACE is not registered with any authority as a broker-dealer or an investment adviser. ACE does not provide any financial, investment, tax or legal advice or make any recommendations with respect to any banking, lending, cash management or other financial products, nor does ACE advertise, solicit, offer or sell any financial products. ACE's platform is made available for financial professionals' use only.

Envestnet, Inc. has a financial interest and occupies board of director positions in ACE. 

 

View original content:https://www.prnewswire.com/news-releases/advisor-credit-exchange-announces-new-executive-leadership-appointments-301966834.html

SOURCE Envestnet

FAQ

Who are the new CEO and COO of ACE?

The new CEO of ACE is J.P. Connellan and the new COO is Melanie Warner.

What is the strategic initiative between UBS and ACE?

The strategic initiative between UBS and ACE allows advisors on ACE's platform to access UBS's cash management solutions.

Who is the former CEO of ACE?

The former CEO of ACE is Peter Stanton.

What is ACE's goal?

ACE aims to become the premier banking and lending technology platform in the wealth management industry to help advisors grow their practices and meet their clients' needs.