SEATTLE--(BUSINESS WIRE)--LendingRobot, the peer lending robo-advisor built to democratize access to consumer credit for retail investors, announced today a new product connecting to the Lending Club platform, called LendingRobot For Advisors. The new For Advisors product is built to merge the best of machine-based high-speed investing with the supervision of registered investment advisors. Financial Advisors can now manage all of their client accounts through a single unified dashboard while leveraging LendingRobot’s algorithmic investment strategies and automated portfolio management. This new product is the result of a close collaboration between LendingRobot and Millennium Trust, who provides custodial services for financial advisors on the Lending Club platform.
“Our goal as a company has always been to empower individual investors in peer lending with the best tools to compete with the ‘big guys’ by automating everything from initial investments, to reinvesting cash returns, to pricing and selling on the secondary market,” said Emmanuel Marot, CEO of LendingRobot. “Managing that process to maximize returns within even a single portfolio is a herculean task. Today, if you are a financial advisor with 30 clients all interested in diversifying with peer lending, that task is next to impossible. Even the best chess players today are a team of 2: a computer and a human. This is why we’ve created LendingRobot For Advisors – bringing together the expertise of human advisors with the automation and simplicity of our algorithms.”
LendingRobot For Advisors provides a much-needed opportunity to diversify investments, in part due to low interest rates and increasing worries about coming downturns in the stock market. Advisors who sign up for this new product simply create a parent account, and then link accounts of clients under their supervision.
Advisors are then able to create unique risk and investment profiles for each client, which, in turn, are managed by LendingRobot algorithms according to each preference. Results and reporting for any individual client, or as a unified dashboard across all client accounts are available to the advisor. As a part of the strategic relationship with Millennium Trust, client assets remain secure in Millennium’s custody.
The family office or advisory firm can easily set up Lending Club investment accounts on behalf of their clients, facilitated by LendingRobot. Clients may get started with as little as $25.
Advisors interested in this new product can sign up and begin connecting client accounts at www.lendingrobot.com/advisors
LendingRobot is also the only service that provides a free mobile dashboard for iOS and Android that lets investors on Lending Club, Prosper, or Funding Circle to track and analyze their portfolio across one or all of those marketplaces. The LendingRobot Dashboard is available in the iOS App Store here: https://itunes.apple.com/us/app/lendingrobot-dashboard/id1086703758?ls=1&mt=8 and the Google Play store here: https://play.google.com/store/apps/details?id=com.lendingrobot.mobile
The LendingRobot mobile application is also fully compatible with this new product and allows financial advisors to keep an eye on their client’s portfolio from their mobile device.
LendingRobot is a fully automated investment service for peer lending platforms including Lending Club and Prosper. After signing up for a LendingRobot account, investors select their risk tolerance and enable LendingRobot to instantly make investments on their behalf. Based in Seattle, Washington, LendingRobot has raised $3 million in Series A funding led by Runa Capital.
About Millennium Trust Company:
Millennium Trust Company provides innovative custody solutions for IRA rollovers, alternative assets, and private funds. With $18.9 billion in assets under custody and more than 458,000 accounts under administration (as of 6/30/2016), Millennium Trust Company is a leader in providing custody services for both alternative and traditional assets. Millennium Trust performs the duties of a directed custodian. As such, it does not provide due diligence for third parties on prospective investments, platforms, sponsors or service providers and does not sell investments or provide investment, tax or legal advice. For more information about Millennium Trust Company visit: http://www.mtrustcompany.com
Lending Club Corporation is not affiliated with either LendingRobot or Millennium Trust Company. Lending Club Notes are offered by prospectus filed with the SEC and an investor should review the risks and uncertainties described in the prospectus prior to investing in any Notes.