Chalice Financial Network (CFN) has launched Chalice Advisor Lending Solutions, which will provide comprehensive merger and acquisitions support for advisers who seek to buy and sell books of business.
This new service strengthens CFN’s offering, which already includes discounted pricing on technology and tools, marketing and complimentary lead generating websites, corporate services and support including HR, IT, payroll, and group health benefits.
As part of the launch of this new platform, Chalice also announced the acquisition of Succession Link, the nation’s top online matching service for independent financial adviser M&A deals, as well as a strategic alliance with Oak Street Funding, a leading provider of conventional non-SBA loans for advisers seeking to buy or sell an independent practice. Chalice’s preferred vendor relationship with Oak Street Funding also makes capital and M&A support available to advisers who are among Succession Link’s 43,000-plus users. Succession Link members get 50 percent off membership to Chalice if they join by March 31.
Keith Gregg, founder, chairman and CEO of Chalice, said, “From identifying potential transactions, to obtaining deal financing, to expertise on transaction execution and business integration, we now offer the entire continuum of solutions that independent advisers need to buy or sell a business. Just as the wealth management industry is experiencing a wave of Baby Boomer clients transferring trillions of dollars in assets to millennial heirs, thousands of financial advisers are preparing to retire in the coming years. The number of potential practice acquirers and sellers will continue to surge, and streamlined access to M&A guidance and competitive financing will mark the difference between success or failure for these advisers.”
Chalice Advisor Lending Solutions recognizes the increased adviser demand for succession planning and desired growth by providing Chalice Financial Network members with:
- A members-only model including expedited loan processing and lower rates
- Simplified underwriting and expedited approval process
- Merger & acquisition support and structure
More broadly, as the equivalent of “Amazon Prime for advisers,” Chalice Financial Network provides its members with a robust, single sign-in shared services FinTech Platform and digital marketplace called the Chalice Advisor Exchange (CAEx). Through CAEx, Chalice’s members can access best-in-class, third-party technology and business enterprise solutions that include portfolio management software, alternative investments, asset and wealth management platforms, as well as back-office needs ranging from group health insurance, human resources, CFO finance and accounting, complimentary lead generating websites and marketing support, furniture, equipment and office space — all at steeply discounted rates.
In a related development, Derek Bruton has been promoted from COO of Chalice Financial Network to president of the entire firm, a newly-created role reporting directly to founder, chairman and CEO Keith Gregg, to oversee the next phase of the company’s strategic growth plans.
Additionally, Succession Link’s chief technology officer Tim Horton has been named chief technology officer of Chalice Financial Network. Horton has spent his career in startups. Before Succession Link, he was the CTO of Airbitz (now rebranded as Edge), a cryptocurrency wallet and authentication provider.
Bruton, who has served in strategic and executive roles in the financial service industry for nearly 30 years, said, “Connecting the advisers we serve at Chalice with Succession Link on a discounted basis is a natural outgrowth of our mission, and our alliance with Oak Street Funding provides a powerful capital solution for our constantly expanding base of members across the independent financial advice space. We’ve created the equivalent of a credit union for independent financial adviser businesses, regardless of their existing broker-dealer or RIA affiliations, in less than one month after the launch of our digital marketplace platform. We have a strong tailwind on our side as we continue to build out Chalice’s offerings and resources for our members.”
