CHICAGO, Oct. 18, 2021 /PRNewswire/ -- Envestnet
announces that investment advisor (IA) reps affiliated with MML
Investors Services, LLC (MMLIS) can now offer Envestnet Credit
Exchange services to access residential real estate and unsecured
consumer loan opportunities.
"The Envestnet Credit Exchange can help ease the transition for
an advisory practice from an asset-centric enterprise to a firm
providing a full range of financial solutions for
clients," said Andrew Stavaridis, Chief
Relationship Officer at Envestnet. "Credit is a key area of a
consumer's financial life for advisors to be able to address—and
through the Envestnet Credit Exchange, advisors and their clients
can get a head start on the search for viable lending
opportunities.
The Envestnet Credit Exchange provides MMLIS IA reps with access
to a broad range of residential real estate and unsecured lending
providers. MMLIS IA reps can introduce loan opportunities to
their clients to help meet what is typically their largest loan—a
mortgage—together with unsecured loans for funding virtually any
other need.
According to the Federal Reserve Board of New York, mortgages comprised 69% of
consumers' personal credit balances as of the end of the first
quarter of 2021. At quarter-end, there had been 116 million credit
inquiries made by Americans in the previous six months.
The Envestnet Credit Exchange helps wealth managers support more
client financial goals, such as cash flow, education, home
purchases and refinancing, business investments, and tax
obligations.
MMLIS launched the Envestnet Credit Exchange—powered by the
Advisor Credit Exchange (ACx), and available through the sponsor
and advisor portals on the Envestnet platform—for residential real
estate and unsecured lending solutions on a pilot basis earlier
this year.
"By bringing asset management and liability management together
in one platform, we are making it possible for wealth managers to
work with clients to manage both sides of their balance sheets,"
said Peter Stanton, CEO of Advisor Credit Exchange.
"The connections we foster can give advisors the power and
confidence to advise clients on all aspects of lending and help
them find the ideal credit solutions to address their
needs."
About Envestnet
Envestnet refers to the family of operating subsidiaries of the
public holding company, Envestnet, Inc. (NYSE: ENV). Envestnet 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. Nearly 108,000 advisors
and more than 6,000 companies—including 17 of the 20 largest U.S.
banks, 46 of the 50 largest wealth management and brokerage firms,
over 500 of the largest RIAs, and hundreds of FinTech
companies—leverage Envestnet technology and services that help
drive better outcomes for enterprises, advisors, and their
clients.
For more information, 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.
Media Contact:
Dana Taormina
JConnelly for Envestnet
973.647.4626
envestnetpr@jconnelly.com
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SOURCE Envestnet, Inc.