SEI Expands Security-Backed Lending Offering with Nationwide Smart Credit, Powered by Supernova Technology

Rhea-AI Summary

SEI (NASDAQ: SEIC) announced a strategic partnership with Supernova Technology™ to integrate Nationwide Smart Credit^SM into the SEI Wealth Platform^SM. This digital lending solution allows advisors to help clients access liquidity from non-retirement portfolios without disrupting investment strategies. Key features include rapid loan processing, high advance rates, lower interest rates, and reduced minimum line amounts. The partnership aims to enhance SEI's suite of solutions for independent advisors, emphasizing immediacy and personalized services.

Positive

• Strategic partnership with Supernova Technology enhances securities-backed lending offerings.
• Nationwide Smart Credit allows advisors to provide clients with liquidity solutions without interrupting investment strategies.
• Rapid loan processing in hours or days improves client service efficiency.
• High advance rates offer potentially better lending values compared to traditional methods.
• Lower interest rates based on SOFR maintain competitiveness.
• Expanded offerings cater to a wider client base due to reduced minimum line amounts.

Negative

• None.

OAKS, Pa., Feb. 3, 2022 /PRNewswire/ -- SEI^® (NASDAQ: SEIC) today announced a strategic partnership with Supernova Technology™ (Supernova), adding Nationwide Smart Credit^SM to the nearly 50 technology integrations and strategic partnerships available to independent advisors through the SEI Wealth Platform^SM.

Nationwide Smart Credit is a fully digital, end-to-end security-backed lending solution that empowers advisors to help clients use their non-retirement portfolios to access liquidity without disrupting their investment strategy. Using Supernova's innovative technology, Nationwide Smart Credit allows advisors to more flexibly manage both sides of their clients' balance sheets to meet their evolving needs. Key features include:

• Rapid speed to loan – Enables processing of loan requests in just hours or days¹
• High advance rate – Allows potentially higher lending values than traditional solutions for equities, bonds, cash, and other securities
• Lower interest rates – Uses a Secured Overnight Financing Rate (SOFR)-based spread to maintain competitive interest rates
• Lower minimum line amounts – Reduces minimums required to setup a line, allowing advisors the ability to serve a wider client base
• End-to-end technology – Utilizes a fully-automated, easily accessible process from origination through the life of the loan, including a self-service client portal

Erich Holland, Executive Managing Director of Client Engagement for SEI's advisor business, said:

"Immediacy, accessibility, and personalized solutions are the bedrock of an independent advisor's value proposition. We are excited to partner with Supernova to expand our existing securities-backed lending solution so advisors can more effectively and efficiently manage client liabilities. This strategic partnership reinforces our continued effort to enhance SEI's total suite of solutions that go beyond traditional asset management with the tools and technologies that connect advisors to building brave futures^SM for their clients."

Debra Griffin, Vice President of Nationwide Financial Securities Backed Lending at Nationwide, said:

"We are thrilled to offer SEI's clients our cloud-based, securities-backed lending solution. By expediting speed to loan and offering a deeply transparent and collaborative process, our solution positions advisors to grow their businesses and better serve their clients over the long term." 

Tao Hung, CEO of Supernova Technology™, said:

"Now, more than ever, financial advisors require streamlined, collaborative, and technology-powered solutions that enable them to more effectively support their clients. We are excited to partner with SEI and Nationwide to elevate the securities-based lending experience for advisors and their clients through our end-to-end, cloud-based technology platform."

¹Applies to single, joint, and revocable trusts. More complex irrevocable trusts and business accounts can take several weeks to originate.

About SEI^®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change and help protect assets—for growth today and in the future. As of Dec. 31, 2021, SEI manages, advises, or administers approximately $1.3 trillion in assets. For more information, visit seic.com.

About Nationwide
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.

About Supernova Technology™
Supernova Technology, LLC, a financial technology company based in Chicago, has built an industry-leading, fully configurable, end-to-end software solution to automate securities-based lending from origination through the life of the loan. The company empowers banks, wealth management firms, and financial advisors with education and software to deliver a low-interest rate liquidity solution to a broad segment of their clients. Using state-of-the-art risk monitoring systems, Supernova provides a robust level of information, data analytics, and transparency that few in the industry can match. The Supernova Technology Trademark is used under license from Supernova Lending, LLC.

Company Contact:	Media Contact:
Netanel Spero	Kerry Mullen
SEI	Vested
+1 610-676-4556	+1 201-674-4185
nspero@seic.com	kerry@fullyvested.com

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SOURCE SEI Investments Company

FAQ

What is the significance of SEI's partnership with Supernova Technology?

SEI's partnership with Supernova Technology enhances its securities-backed lending solutions by integrating Nationwide Smart Credit, improving service offerings for financial advisors.

How does Nationwide Smart Credit benefit SEI clients?

Nationwide Smart Credit provides SEI clients with a digital lending solution that offers quick access to liquidity without affecting their investment strategies.

What are the key features of Nationwide Smart Credit introduced by SEI?

Key features of Nationwide Smart Credit include rapid loan processing, high advance rates, lower interest rates, and reduced minimum line amounts for client accessibility.

When was the partnership between SEI and Supernova announced?

The partnership between SEI and Supernova Technology was announced on February 3, 2022.

What technology does Supernova provide to SEI's lending services?

Supernova provides an end-to-end, cloud-based technology platform that automates the securities-backed lending process, enhancing efficiency and client support.