UBS Wealth Management America has established a referral agreement with Emigrant Bank Fine Art Finance, allowing clients to apply for loans of up to $150 million, backed by their artwork and antiques as collateral
UBS Wealth Management America has established a referral agreement with Emigrant Bank Fine Art Finance, allowing clients to apply for loans of up to $150 million, backed by their artwork and antiques as collateral.
A spokesperson told Family Wealth Report that prior to this agreement, the firm had “no way of solving for certain ultra high net worth client requests” in cases where art was part of the collateral equation.
“UHNW clients consider art as another asset class, so forming a referral agreement was a thoughtful way of adding a solution,” the spokesperson said.
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