Fuel growth with cash management and credit solutions


I recently hosted an exclusive online webinar event, “Cash & Credit Solutions to Help Expand Client Relationships & Grow Your Practice,” where we talked with partners about how Registered Investment Advisors (RIAs) can fulfill client needs for cash and credit solutions.

For the event, I was joined by Peter Stanton, CEO of Advisor Credit Exchange, Brandon Scott, RIA Business Development Associate, Advisor Credit Exchange, and Melanie Warner, Head of Business Strategy and Business Development, UBS. Our event drew RIAs from around the country who were interested in learning how to add diverse suite lending and cash management solutions to their toolkits to help them differentiate their practice, drive growth, and provides clients with a more holistic wealth management experience.

Here’s a recap of what we covered.

Envestnet’s ecosystem is built to help you expand your practice and solutions offered

To kick off the webinar, I provided an overview of how Envestnet equips RIAs with an expanded array of advice and solutions across a broad range of topics, essentially what we call The Intelligent Financial Life. Envestnet’s Financial Wellness Ecosystem is built to help advisors run their businesses more efficiently, turn data into intelligence to power their businesses, help them optimize client portfolios, and potentially accelerate their practice’s growth.

Become a cash management and credit advisor

Stanton emphasized the growing importance of credit in our industry and how other banks and advisors offer these services. The Advisor Credit Exchange (ACx) aims to support advisors in being as proactive as possible in providing lending and cash management solutions while ensuring a simple and straightforward process.

According to Stanton, there’s a clear gap between the services investors desire and the services they actually receive. Research shows that 84% of clients expect their advisor to provide loan and credit management advice. Despite that expectation, only 4% of clients report they receive lending advice from their advisor.1

Stanton’s insight is that by giving clients what they need and when they need it, like a loan, advisors are in the best position to gain their assets, keep those assets, and make those relationships stickier with choice. He encouraged incorporating banking and lending advice into your daily practice. He then talked about various lending solutions, like loans for residential real estate, securities-backed and unsecured loans, along with advisor compensation details.

Stanton also covered how the Advisor Credit Exchange supports advisors on their journey to become a lending advisor. The platform offers a variety of lending solutions all in one place, providing options within each category. He concluded by explaining how the platform works, essentially enabling advisors to quickly and easily generate automated credit proposals while the Advisor Credit Exchange handles the heavy lifting.

Cash Management Solutions provided by UBS

Warner discussed industry trends amidst the current interest rate environment, highlighting the growing opportunity for advisors as the focus on cash management and lending intensifies. With unified cash and credit solutions on a platform powered by ACx, advisors can help their clients on both sides of the balance sheet.

She outlined five key cash management functions and what clients seek today: cash planning, managing cash flows, controlling cash flows, optimizing cash levels, and investing idle cash. According to Warner, empowered advisors who can provide cash management and lending solutions are better positioned to meet rising demand and address the sophisticated needs of high-net-worth individuals and families.

Warner underscored how cash management benefits practices by deepening relationships, creating operational efficiencies, and potentially increasing assets under management. Wrapping up, she explored UBS’s cash management solutions via the UBS Resource Management Account, featuring the competitive yields available in the Core Savings Account.

Simplifying cash management and lending

Scott led a demo of the ACx platform, showcasing how it merges technology with a personal touch. He guided advisors through using the platform for cash management and lending opportunities, highlighting how it supports both advisors and their clients.

He outlined the steps for getting started with a cash management or lending opportunity and detailed how to generate client documents to clarify the process and expectations. He discussed client communication and stressed how the ACx team keeps advisors well-informed throughout the process.

Viewing a client’s entire financial picture in one place

To wrap up, I introduced the Tamarac Net Worth Report, available through the Tamarac Reporting application. This report offers a comprehensive view (at the household level) of a client’s entire financial picture in one place. By combining holding information from a client’s financial accounts with other assets and liabilities, advisors can provide a holistic financial snapshot in a single report or within the Client Portal for easy viewing.

I then walked through a demo of Tamarac Reporting and how users can view assets and liabilities, update and look at the Net Worth Report, and give clients a complete view. I also showcased our new Client Portal with updated views and more functionality. Finally, I touched on the seamless integration of Tamarac data with the Advisor Credit Exchange, streamlining the platform experience.

Learn more

In case you missed our exclusive online event, “Cash & Credit Solutions to Help Expand Client Relationships & Grow Your Practice,” watch the replay here.

To learn more about delivering a more holistic wealth management experience and provide advice-driven liability management solutions to help clients manage both sides of the balance sheet, please contact the ACE Advisor Sales Team at 844.259.2223 or rlmteam@advisorcreditexchange.com.

The information, analysis and opinions expressed herein are for informational purposes only and do not necessarily reflect the views of Envestnet. These views reflect the judgment of the author as of the date of writing and are subject to change at any time without notice. Nothing contained in this piece is intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type.

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  1. Market Insights 2022, Spectrem Group, https://spectrem.com/Content_Product/market-insights-2022.aspx