Envestnet, a Chicago-based company that develops and markets software for financial advisors, has expanded its recently-launched Envestnet Credit Exchange platform by adding a select network of lenders, according to a news release.

The lineup of lenders include the following: TD Bank; LightStream, a division of SunTrust; Nationwide (in partnership with Supernova Lending LLC); and First Citizens Bank. Each lender was chosen based on their product offerings, service quality and financing expertise.

The lenders will offer advisors with access to the Envestnet Credit Exchange platform a broad range of loans with both secured and unsecured financing options, ranging from $10,000 to $25 million or more. The platform will also generate a selection of pre-qualified credit offers.

"The key innovation is the advisor will know—in advance of speaking with a client—what pre-qualified loan options are available, along with clearly presented loan pricing and terms," said Peter Stanton, CEO of Advisor Credit Exchange. "This market intelligence significantly minimizes the risk of credit decline and concerns about competitive pricing. The Credit Exchange, quite literally, takes the mystery out of lending for advisors and their clients."

The Envestnet Credit Exchange, powered by Advisor Credit Exchange, is available through the sponsor and advisor portals on the Envestnet platform.

Additional lenders and a broader market expansion are planned for 2020.

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