AssetMark Trust Enhances its Securities-Backed Line of Credit Program with Supernova Technology
11 August 2020 - 3:00PM
AssetMark (NYSE: AMK) announced that an enhanced securities-backed
line of credit (SBLOC) program powered by Supernova TechnologyTM is
now available through AssetMark Trust Company, an integrated
custodian on the AssetMark platform. The Cash Advantage LendingSM
service now gives AssetMark Trust Company clients faster access to
low-interest rate liquidity supported by digital and streamlined
securities-backed lending from origination through the life of the
loan, creating new opportunities for financial advisors to expand
their service offering to meet the evolving needs of their clients.
“Many financial advisors are focused on helping clients grow
their personal net worth, and a securities-backed line of credit
can be an important tool to help address client liquidity needs
while keeping them invested. In many cases, it can be a relatively
cost-effective and flexible way to manage liquidity when compared
with other sources of credit,” said David McNatt, CFA, SVP of
Product Strategy, Management, and Development at AssetMark.
“Supernova’s capabilities are helping us lower client interest
rates, shorten the loan origination process from weeks to days, and
provide financial advisors and their clients powerful tools that
enhance education and risk monitoring.”
Cash Advantage Lending is an AssetMark Trust SBLOC program that
empowers advisors to employ portfolio-based lending when
appropriate for the client. An SBLOC allows investors to use their
investment assets as collateral for revolving lines of credit or
bridge loans without having to liquidate their investment
portfolio, so they can maintain market exposure and avoid potential
negative tax consequences. The program gives wealth managers and
financial advisors greater flexibility in managing both sides of
their clients’ balance sheets.
“We’re bringing securities-based lending into the 21st century,
doing away with the manual, paper-driven processes that get in the
way with a cloud-based technology platform that automates and
accelerates the process,” said Tao Huang, CEO of Supernova
Technology. “By working with AssetMark to bring our fully
configurable end-to-end capabilities to their enhanced Cash
Advantage Lending service, we’re providing investors and advisors
with a much faster, more collaborative and transparent experience
through the life of the loan.”
About AssetMark Financial Holdings, Inc.
AssetMark is a leading provider of extensive wealth management and
technology solutions that power independent financial advisors and
their clients. Through AssetMark, Inc., its investment adviser
subsidiary registered with the U.S. Securities and Exchange
Commission, AssetMark operates a platform that comprises fully
integrated technology, personalized and scalable service, and
curated investment solutions designed to help advisors and their
clients thrive. AssetMark had $63.2 billion in platform assets as
of June 2020 and has a history of innovation spanning more than 20
years. For more: www.assetmark.com.
About Supernova Lending, LLCSupernova Lending,
LLC, a financial technology company based in Chicago, has built an
industry-leading, fully-configurable, 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 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.
Media Contact:Chris BlakeMSR Communications for
AssetMarkchris@msrcommunications.com
SOURCE: AssetMark, Inc.
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