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If you need a loan you go to the bank, right? Not so fast.
Wealthtech firms are now offering lending products to close a competitive gap between RIAs and traditional banks and wirehouses, which have long used mortgage rate incentives to lure clients and assets away from independent advisors. The latest such firm, Flourish, added residential mortgage lending capabilities to its registered investment advisor platform on Tuesday. According to Flourish CEO Max Lane, early users have already saved clients hundreds of dollars a month on mortgage expenses.
“Many advisors will tell you they have lost wallet share to a bank that offers preferential mortgage rates to clients who meet asset minimums,” Lane told Advisor Upside. “A very senior C-suite executive at one of the largest RIA aggregators in the country recently told me that they did this. They moved hundreds of thousands of dollars off their own RIA platform to a wirehouse to get a good mortgage rate for their second home. If senior executives are doing it, clients are, too.”
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Wealth management firms have gotten the message, including Charles Schwab, which pledged in its 2026 winter business update call to expand its lending capabilities for RIAs. Bank-affiliated RIAs like Bryn Mawr Trust likewise offer direct residential and securities-backed loans, while some banks have stood up specialized lending solutions for RIA clients. The turnkey asset management platform Orion has also gotten in on the action via its Cash & Credit platform, though Envestnet has backed away from its investment in Advisor Credit Exchange in favor of off-platform referrals.
“Clients expect their advisors to be their primary financial relationship, not just for investments,” Lane said. “Mortgages are one of the most important financial decisions in clients’ lives. Advisors need tools that allow them to stay involved when those decisions arise.”
Flourish’s mortgage service differs from traditional lenders that offer rates from a single balance sheet, Lane said. Instead, it operates as a mortgage broker, giving clients access to rates sourced directly from the capital markets and eliminating costly middle layers. Other details include:
