Scotia Private Client Group has entered into a strategic partnership with HNW investor group TIGER 21, allowing members access to the firm’s Total Wealth Credit Solution. The program allows members to consolidate different investment holdings as collateral for a single investment line of credit.
“We feel that Scotia Private Client Group and their Total Wealth Credit Solution is a well-rounded offering that will truly benefit TIGER 21 Canada members,” said Thane Stenner, managing director, TIGER 21 Canada. “Anytime that we can offer our members access to a unique credit solution to enhance their options for borrowing to invest, it is a good thing.”
Under the Total Wealth Credit Solution, private bankers at Scotia Private Client Group can access automated daily market valuations for investment portfolios and information on their client’s borrowing capacity based on brokerage industry margin guidelines, for a range of securities maintained in client investment portfolios – whether with a full service advisor or in an on-line brokerage account.
This data is combined with valuations of other collateral types maintained in Total Wealth, such as residential real estate or insurance policies. All of the collateral is consolidated in support of a single, integrated investment line of credit. This enables members to borrow to invest using their broad-based wealth in a more efficient and convenient manner.
“We are pleased to be partnering with TIGER 21 to offer members access to our fully automated and integrated lending platform, Total Wealth Credit Solution,” said Andrew M. Wright, managing director and head of Private Banking, Scotia Private Client Group. “With Total Wealth, TIGER 21 members will have immediate and uncomplicated access to capital to pursue their passion for investing individually or as a group.”