Alden Launches New Securities-Based Lending Solution with Supernova Technology
WAYNE, PA, May 19, 2021 – Alden Investment Group announces a new lending solution for their advisors and clients in partnership with Supernova TechnologyTM, a Chicago-based FinTech company focused on security-based lending (SBL).
"As Alden, named the second-fastest-growing independent broker/dealer by InvestmentNews in 2021, continues to grow, a state-of-the-art and digital SBL solution was needed to streamline and enhance their lending offering for a growing roster of advisors across the country, as well as for recruiting new top advisors to the firm.edit 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.”
Supernova was founded for advisors by advisors, with a mission to democratize security-based lending. After dealing with third party’s cumbersome SBL processes, with all of the paperwork, delays, lack of transparency, and back-and-forth, Supernova developed a solution that improved the process on the front and back-end, benefiting advisory firms and their wealth managers and investors. Integrating and operating as the go-between with the lender, custodians, and wealth management firms, Supernova’s solution can partner with any bank, capital funder, broker/dealer, or registered investment advisor (RIA).
Blair Thompson of Sparta Wealth Partners, an affiliate of Alden Investment Group, talks about his personal experience of using Supernova, “In the banking realm, SBL lending can take up to 30 days, and advisors can be tentative to get involved, due to all of the paperwork and a truly cumbersome process. With Supernova, this timeline can shrink down to a week, oftentimes as little as 2-4 business days, and everything is done digitally. This has been well-received by our clients, and we can easily help with time-sensitive loans. The use of technology allows us to underwrite and evaluate custom credit goals in 24 hours or less.”
“From a customer perspective, they want holistic advice, which our advisor team provides,” says Chris Coloracci, Head of the Private Client Group at Alden. “Borrowers have much more flexibility on short-terms loans and access better lending rates with Supernova. Working with their advisor, they can have a securities-backed line of credit to take care of their liquidity needs, without having to sell their assets.”
“We are proud to partner with Alden and have our best-in-class SBL solution help support their growth trajectory,” said Tao Huang, CEO for Supernova Technology. “Aside from the liquidity benefits to investors, advisors using SBL powered by Supernova’s technology can deliver more holistic advice, leading to deeper, more meaningful client relationships.”
About Supernova Lending, LLC
Supernova 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.
Alden Investment Group
Founded in 1995, Alden Investment Group is an independent firm with a full-service broker/dealer and registered investment adviser. The firm offers a large and diverse menu of services including individual account management, institutional research, investment banking, private placement offerings, wholesaling services, retirement plans, equity trading, fixed income trading, and options trading, among other broker/dealer and RIA capabilities. The firm has 65 advisors spread across 14 districts and states, including most recently Puerto Rico. The firm has the ability to work with advisors who wish to be fully integrated to an RIA and broker/dealer, or in a hybrid format accessing only the entities they require. The firm offers a robust platform for its advisors built around competitive payouts, with access to unique investment products and a best-in-class compliance program.