Broadridge Financial Solutions has joined forces with IntraFi, a banking network in the US, to offer securities-based lending service for wealth management firms, brokerage firms, and banks.
As per the agreement, IntraFi will offer Broadridge’s securities-based lending (SBL) technology to its network members.
Furthermore, IntraFi members will be able to offer loans to consumers of independent brokerage companies, financial planners, and registered investment advisors (RIAs) via the Broadridge Wealth Lending Network.
Broadridge president of wealth management Mike Alexander said: “Broadridge’s partnership with IntraFi expands the availability of securities-based lending to previously underserved parts of the market — community and regional banks, independent broker-dealers, and unaffiliated advisors and RIAs.
“This innovative joint solution for banks brings more capital to bear in the securities-based lending business and increases the potential to expand access to streamlined liquidity options through the Broadridge Wealth Lending Network.”
The Wealth Lending Network of Broadridge links wealth managers to banks and other financial institutions.
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By GlobalDataBroadridge’s SBL solutions are featured on the Broadridge Wealth Platform. Powered by an aggregated data layer, the solution is designed to enable companies drive innovation, better perform at scale, and enhance client and advisor experience.
IntraFi co-founder and CEO Mark Jacobsen said: “We’re pleased that we can offer access to Broadridge’s products to thousands of banks and other financial institutions in our network. “This partnership is a natural extension of our flexible balance sheet management service.”