Nationwide to Enhance its Wealth Management Lending Solutions Through Supernova Technology
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."