The lending process is improving constantly. Automation, AI, and new underwriting criteria allow lenders to book more loans with less risk every day. These are cherries on top, but they can’t save sub-par loans.
Fortunately, some loans are already near perfect as is.
Read on to learn more about UPTIQ, the RIAs they work with, and the higher-income and HNW people they serve. (We promise, fewer acronyms, more focus on can’t-miss loan opportunities.)
Bonus: UPTIQ is a higher-income and HNW consumer memberization engine.
Stakeholders in UPTIQ’s Lending Use Case
Briefly, we’ll cover some of those TLAs above (that’s Three-Letter Acronyms) 😉. In the world of UPTIQ’s near-perfect loans, there are a few key stakeholders:
- Higher income earners. These are the people who may not be rich yet, but they’re executives, small business owners, and similar.
- High net-worth individuals. These are the HNW borrowers. They buy yachts and private jets. Their second vacation home is nicer than the primary residence I’m still paying the mortgage for.
- Registered investment advisors. These professionals helps HNW individuals manage their money. They balance investments with cash flow. The more assets under management (AUM) they have, the better they do for themselves.
- Lenders. Lenders help HNW people buy their boats, planes, houses, and other high-ticket items. This ensures that HNW buyers can maintain liquidity without impacting their AUM.
- UPTIQ. UPTIQ connects RIAs and their HNW clients facilitate liquidity solutions and large purchases by pairing with best-fit lenders. More on them soon.
You can probably see exactly where this is going. Furthermore, you can probably see how this plays out. But you should read on to see how UPTIQ helps connect the dots.
Introducing the Borrowers UPTIQ Brings
The best thing about higher-income and HNW borrowers with RIAs is that they can absolutely, 100% afford whatever they want to buy. The reason they turn to loans isn’t out of necessity—it’s out of convenience:
First, high income borrowers don’t want to dip into their checking or savings account. Such a large purchase could exceed the balance of either account or put it below a comfortable threshold.
Second, HNW borrowers don’t want to liquidate their assets. This hits them with a taxable event and reduces their potential returns. Their RIAs wouldn’t be too thrilled about losing AUM, either.
They could buy something outright, but it makes better financial sense to work with a lender.
Their purchases aren’t always material items—often, they may need to cover legal fees, invest in a new business, renovate their home, or just improve cashflow. But that’s all covered in the UPTIQ ecosystem. The key here is that these are exclusively large liquidity needs.
That’s where credit unions and UPTIQ come in.
Now Introducing UPTIQ
UPTIQ partners with RIAs and lenders across the country to facilitate large purchases. UPTIQ lets RIAs input details about their clients’ liquidity needs. Then, they provide a shortlist of lenders who can fund those needs. The whole process takes less than 5 minutes.
Lenders that work with UPTIQ are first in line for borrowers that fit their ideal profile. Lenders can tell UPTIQ what kind of borrowers they’ll work with—FICO score, loan type, etc.—and UPTIQ does the rest.
Ideally, more credit unions will show up in that shortlist. Here’s why:
- Memberization. To begin, this is a phenomenal memberization tactic. Every loan you book becomes a member who fits your ideal borrower profile.
- Income impact. Additionally, this has big income potential. Yes, there’s the one big loan. But HNW individuals who fund one liquidity objective will probably need to fund another in the future. Next time, your credit union will be the first place they look. (I guess that comes back to the value of memberization…)
- Employee impact. Finally, in reference to the first paragraph of the blog, UPTIQ has some of those cherries on top. We’re talking automation and AI. These technologies ensure that credit union resources aren’t spread thin trying to meet the needs of higher-income and HNW borrowers.
If AI is on your roadmap—especially in lending—UPTIQ is an extremely safe way to start that journey. You can learn more about them here:
Additional Resources
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