COLUMBUS, Ohio, April 23, 2019 /PRNewswire/ -- In today's rapid pace of business transactions, advisors need quick and easy access to securities-backed lending products for their clients for almost any purpose, such as buying real estate, purchasing personal property or investing in a business.
Nationwide is taking its proven securities-backed line of credit lending product, Smart Credit, to the next level of automation through a partnership with Supernova Lending, LLC (Supernova) to deliver enhanced wealth management lending solutions to firms and financial advisors.
As part of Nationwide's deployment strategy to broaden distribution, the solution will be offered to some of the nation's largest broker-dealers and Registered Investment Advisors (RIAs) to:
- Facilitate access to liquidity for a broader segment of their clients
- Enhance data and information for clients, financial advisors and their firms
- Provide enhanced risk monitoring
"Nationwide is committed to providing a robust securities-backed line of credit lending product offering to the financial advisor community," said Debra Griffin, VP Nationwide Financial Securities Backed Lending. "The move from manual to electronic transactions will be a differentiator for advisors looking to expand their overall client relationship servicing capabilities."
Wealth management lending is a powerful tool, offering lower rates and better terms than many other solutions if managed properly. When fully integrated, the enhanced Smart Credit origination process powered by Supernova enables qualified clients to move from origination to line access in minutes as opposed to days, as well as provide ongoing, real-time access to account and servicing information.
"Wealth management lending has been traditionally a paper-based solution with limited information available to the client, advisor or partner firm," Tao Huang, CEO of Supernova and former CTO and COO of Morningstar noted. "With the Nationwide solution powered by Supernova, clients, advisors and firms will have a better experience through automated origination, enhanced data, and information throughout the life of the loan."
For more information on Nationwide's Smart Credit securities-backed lending solution, please call 1-888-543-9122.
Supernova, a financial technology company based in Chicago, has built the world's first fully-customizable, end-to-end software solution to automate securities-backed 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 liquidity solution to a broader segment of their clients. Using state-of-the-art risk monitoring systems, Supernova provides a level of information, data analytics, and borrower protection that very few in the industry can match.
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. Follow us on Facebook and Twitter.
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Nationwide and Supernova are separate and non-affiliated companies.