Osaic rolls out digital loan marketplace to advisors
Osaic's 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.
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.”