Insurance coverage and funding funding agency Cornerstone Financing has secured $285m in mixture financing from Aquiline Capital and Nomura.
The funding can be used to broaden CHEIFS (Cornerstone House Fairness Insurance coverage/Funding Funding Options), Cornerstone’s resolution that permits householders to promote a fraction of their dwelling for money to fund insurance coverage, annuities, long-term care, and different monetary and life planning choices.
As well as, CHIEFS boosts the instruments wanted by advisers and householders. It’s presently in Arizona, California, Florida, and Pennsylvania, however Cornerstone intends to broaden nationally, supported by the $285m financing and is actively looking for to broaden its distribution partnerships.
“Partnering with these prestigious establishments affirms our dedication to offering advisers with progressive dwelling fairness options,” stated Daniel Anderson, co-founder of Cornerstone. “With streamlined distribution via our community of advisers, Cornerstone, via its CHEIFS program, affords a uniquely environment friendly mannequin that maximises worth and enhances adviser-client monetary planning methods.”
“We’re proud to help Cornerstone within the growth of CHEIFS,” added Timothy Gravely, accomplice and head of credit score for Aquiline. “This product addresses a essential hole we noticed via our participation within the insurance coverage market, and we’re excited to again the answer.”
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