A new borrowing platform designed to increase investors’ liquidity has been launched by Advisor Group, a Phoenix-based network of independent wealth management firms, the firm announced yesterday.
The Personal Credit Line is a wealth management tool that will enable financial professionals to create a more flexible plan for their clients that keeps assets invested at the same time that it provides a source of funds, Advisor Group said. Clients of advisors using the tool will be able to borrow against their investments without affecting the underlying value of their portfolios, the company said. The Personal Credit Line is available online and features e-signature capabilities, the company said.
"In the current economic landscape, many investors have a need for additional liquidity. Advisor Group's digital Personal Credit Line provides a streamlined solution that expands our advisors' service offerings," Kristen Kimmell, executive vice president for business development at Advisor Group, said in a statement.
"With Personal Credit Line, my clients can unlock the power of their assets at a competitive rate and with flexible repayment terms," Amanda Dunlap, CEO of Absolute Financial Planning, an Advisor Group firm, said in a statement. "This empowers them to address their cash flow needs without disrupting their path to achieving their financial goal.”
The tool is now in its early adoption phase and will be made available to a broader group of advisors within a few weeks, Advisor Group said. Advisor Group is made up of about 10,000 financial professionals.