At its NXT conference this week, Osaic announced its new digital loan marketplace is live and available to its network of 11,000 advisors. CapitalHub is a white-labeled version of Community Capital Technology’s platform and national loan originations network, including more than 1,400 financial institutions nationwide.
Osaic has had its Personal Credit Line in place since 2023, which allows clients with unqualified accounts to borrow up to 70% of that account value. That capability is through a partnership with Supernova Technology.
CapitalHub is available for clients who don’t have non-qualified accounts. An advisor works with a client to gather the information needed and submit it to the marketplace. The client’s information remains anonymous, and the community banks then bid on that lending opportunity. The advisor then works with the client to assess the offers, and once they accept a bid, it moves into the process of underwriting with that lender. There are no costs to the advisor or client to go through the process, except the typical closing costs when they get to that stage.
Greg Cornick, executive vice president, advice and wealth management at Osaic, said the product was born out of advisor demand. He cited a study that found 84% of clients expect their advisors to have a lending solution or access to lending solutions.
“Access to capital is increasingly becoming a key differentiator in how advisors deliver holistic value to their clients,” he said in a statement. “This new partnership gives our financial professionals a competitive edge, enabling them to diversify their service offerings, accelerate their growth and deepen client relationships.”
Cornick said there was some overlap between CCT’s network of community banks and the financial institutions on Osaic’s institutions platform. Osaic Institutions recently added five credit union wealth management programs from CUSO Financial Services, part of Atria Wealth Solutions, which was acquired by LPL Financial last year. The five firms bring nearly $500 million in combined assets.
Several independent broker/dealers offer securities-backed loan programs. Commonwealth Financial Network, LPL Financial and Kestra Financial, for example, use Goldman Sachs’ GS Select offering.
Envestnet has its loan portal, the Envestnet Credit Exchange. It partnered with Advisor Credit Exchange, a firm that connects wealth managers and lenders, to provide a solution for advisors interested in offering credit options or even prequalified loans to their clients.
Osaic also announced enhancements to its tools for high-net-worth and financial planning. With its acquisition of Lincoln Financial’s wealth business, it brought a team focused solely on helping advisors with complex financial planning needs. Osaic has combined that team with its existing one that was building out capabilities for advanced planning.
The firm already has a Wealth Advisor Academy focused on education for financial advisors, but it has now introduced a Wealth Management Support Academy. The firm has conducted two pilot sessions of this four-month program aimed at the support and operations staff within advisory firms. The program helps them optimize the Osaic ecosystem and use workflows more efficiently.
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