Envestnet Credit Exchange Launches Access to Residential Real Estate & Unsecured Consumer Loans

Rhea-AI Summary

Envestnet (NYSE: ENV) announced the launch of its Envestnet Credit Exchange, providing access to a variety of residential real estate and unsecured lending products for clients. This expansion includes partnerships with lenders such as Ally Home, Better, Guaranteed Rate, Upgrade, and LightStream. The Credit Exchange allows financial advisors to offer loans ranging from $10,000 to $25 million, addressing clients' major credit needs. Andrew Stavaridis emphasized that integrating credit solutions is essential for advisors to support their clients' financial wellness.

Positive

• Launch of the Envestnet Credit Exchange expands access to residential real estate and unsecured lending products.
• Partnerships with notable lenders enhance product offering and service quality for clients.
• Advisors can now offer loans ranging from $10,000 to $25 million, addressing a significant credit need.

Negative

• None.

CHICAGO, June 8, 2021 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) announces that the Envestnet Credit Exchange has launched access to a broad range of residential real estate and unsecured lending products for advised clients from a growing list of lending partners selected for their product breadth and service quality. The Envestnet Credit Exchange has expanded its product set beyond securities-backed lending with Upgrade and LightStream for unsecured loans, and Ally Home, Better, and Guaranteed Rate to help wealth managers meet what is typically their clients' largest credit need -- real estate financing.

"To compete and succeed in the wealth management arena, Advisors must address both sides of their clients' balance sheet. Helping clients build net worth means managing credit as strategically as investments.  This product expansion gives advisors solutions for their clients' financing needs," said Andrew Stavaridis, Executive Group Head, Solutions Distribution at Envestnet. "Creating Financial Wellness is the strategic high ground for our industry, and credit is an essential pillar. Together, with insurance and financial planning, providing credit solutions positions Advisors to confidently answer, '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 access to a broad choice of secured and unsecured loan options, from $10,000 to $25 million, and above. The potential lending opportunities are gathered based on each client's financial data and come from a list of lending partners curated for their product offering, service quality and financing experience. The expansion of the Credit Exchange's suite of lending products now provides advisors with access to: 

• Residential Real Estate Loans: Advisors can help clients obtain loans for everything from purchasing or refinancing homes to paying for home improvements. The Federal Reserve Board of New York reports that mortgages account for over 70% of consumers' personal credit balances.

Ally Home (the residential mortgage lending arm of Ally 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 with multiple unsecured lending partners, and present a wider array of potential loans for each application based on client data and relevance, from which advisors and clients can choose those with the best terms.

In addition to LightStream, a division of Truist (formerly SunTrust), the unsecured lending partners on the Credit Exchange now include Upgrade Inc., a neobank that offers 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 to expand credit market access.

"The Envestnet Credit Exchange is now positioned to enable advisors to meet the three key personal lending services— securities-backed, unsecured, and real estate-based loans," said Peter Stanton, CEO of Advisor Credit Exchange. "The connections we foster can provide advisors the power and confidence to advise their clients on all aspects of lending and help them access the ideal credit solutions for meeting their needs." 

About Envestnet
Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 106,000 advisors across more than 5,200 companies—including 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies—leverage the Envestnet platform to grow their businesses and client relationships.

For more information on Envestnet, please visit www.envestnet.com, subscribe to our blog, and follow us on Twitter (@ENVintel) and LinkedIn.

About Advisor Credit Exchange, LLC
The Advisor Credit Exchange (ACx) is a technology-empowered network that brings together lenders and wealth managers, enabling investment firms and advisors to deliver financing solutions to build their clients' net worth and meet 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 wellness.

For more information on the Advisor Credit Exchange, please visit www.advisorcreditexchange.com.

Envestnet, Inc. has a financial interest and occupies board of director positions in the Advisor Credit Exchange. ACx provides lending solutions to advisors and their clients via the Envestnet platform through Envestnet's affiliate, Envestnet Financial Technologies.

Neither ACx nor Envestnet offers any loan products or makes any lending decisions.  The funding and administration of all loans is undertaken by separate and unaffiliated financial institutions.  This release should not be construed as an offer, recommendation or endorsement of any particular product, service, bank or firm. 

Media Contact:
Dana Taormina
JConnelly for Envestnet and ACx
973.647.4626
envestnetpr@jconnelly.com

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SOURCE Envestnet, Inc.

FAQ

What is the Envestnet Credit Exchange?

The Envestnet Credit Exchange is a platform launched by Envestnet to provide financial advisors access to a range of residential real estate and unsecured lending products.

Which companies are partnered with Envestnet for lending products?

Envestnet has partnered with lenders such as Ally Home, Better, Guaranteed Rate, Upgrade, and LightStream.

What types of loans are available through the Envestnet Credit Exchange?

The Envestnet Credit Exchange offers residential real estate loans and unsecured loans, catering to various client financial needs.

When was the Envestnet Credit Exchange launched?

The Envestnet Credit Exchange was launched on June 8, 2021.

How do the new offerings impact financial advisors?

The new offerings enable financial advisors to address both sides of their clients' balance sheets by providing credit solutions, thereby enhancing their service capabilities.