Fintech firm Broadridge Financial Solutions has announced the integration of its securities-based lending (SBL) tools in the company’s wealth lending network (WLN) marketplace into the Morningstar Advisor Workstation.
The latest move allows independent financial advisers to seamlessly access lending solutions alongside Morningstar’s capabilities in core research, investment planning, and portfolio analysis.
Besides, the integration, aimed at supporting broader client financial goals, enables advisers to determine their clients’ SBL borrowing potential and directly connect with WLN partner banks to meet lending requirements.
Broadridge’s advanced SBL services will now be accessible through a streamlined, single sign-on process, with over 150,000 advisers using the Morningstar platform in the US.
Advisers can also leverage the WLN’s predictive prospecting, sales, and educational capabilities.
Morningstar enterprise solutions chief product officer Vimal Vel said: “As highlighted in Morningstar’s 2024 Voice of the Advisor Survey, advisors who offered a broader range of services were more confident in their ability to support their client with meaningful financial plans.
“Our collaboration with Broadridge equips advisors with a tool for advanced lending options, enabling them to provide a more comprehensive suite of services and elevate the industry standard for the value advisors offer clients.”
The WLN also allows wealth managers of all sizes to deliver SBL services to their clients by leveraging Broadridge’s end-to-end, fully digitised SBL technology platform. This builds on existing lending models, enabling financial firms to offer SBL to clients on a turnkey basis.
In addition, the WLN allows registered investment advisors (RIAs), independent broker-dealers, wealth management firms and non-bank affiliated broker-dealers to retain assets under management (AUM) when clients require liquidity.
Furthermore, the integration offers clients a significant advantage, providing an alternative to liquidating investment portfolios. This helps preserve investment strategies and avoids the capital gains taxes typically triggered by selling assets.
Broadridge wealth management president Mike Alexander said: “This collaboration helps advisors respond to the growing demand for flexible, simplified, and integrated financial solutions, including borrowing against their securities portfolio, allowing them to better align with their clients’ evolving goals, and provide expanded service offerings that strengthen their client relationships.”
