We don't require deposits

Referring your clients to a retail bank or private lender for their mortgage may be putting their managed assets in jeopardy. Many retail and private banks encourage loan applicants to deposit assets as a condition of closing the loan. This creates an additional revenue stream through fee banking and other cross-selling opportunities, credit cards, CD's, etc. Banks often require these funds to be moved over regardless of whether or not it's in the client's best interest. 

This can complicate matters for your client and their financial advisor because it may take those funds out of the advisor's direct management, reduce their investable assets, cause a taxable event if the client has to liquidate investments, and require a buyer to modify their ongoing financial plan. It can also subject your client to persistent solicitations from that bank trying to push aside their financial advisor or investment manager. This is rarely an issue when your clients get their mortgage with our team because we are not a depository bank and our loans typically do not require clients to move money. If your clients are concerned about being forced to move their assets or open new accounts, our team can be a great lending partner. Contact us today for any loan scenarios you'd like to discuss!

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