First Citizens Launches Streamlined Solution for Securities-Based Lines of Credit
June 03 2021 - 12:01PM
First Citizens Wealth Management recently launched the First
Citizens Easy Access Line, which provides securities-based lines of
credit (SBL) to clients in all 50 states through a partnership with
Supernova Technology™. The Supernova partnership supports an easier
and more efficient digital experience for advisors and clients.
“A securities-based line of credit can be an important tool —
whether clients have a specific, near-term need or just require
ready access to cost-effective liquidity,” said First Citizens
Private Banking Director Steve Gilland. “First Citizens now
provides SBLs for clients of select third-party investment managers
and, thanks to Supernova Technology, we can now quickly help these
clients access their liquidity when the need arises. Easy
implementation, flexibility and attractive pricing make the line an
ideal complement to investment portfolios.”
With the First Citizens Easy Access Line, clients will also be
able to borrow money using their own First Citizens-managed
non-retirement investment portfolio as collateral. It allows
clients to remain invested and keep their asset allocation strategy
in place, while still having easy access to the liquidity they
need.
“With the integration with First Citizens Bank, our technology
is now providing more investors with easier access to
securities-based lines of credit than ever before. Our solution
enables a faster, more collaborative, and transparent experience
through the life of the loan,” said Tao Huang, CEO of Supernova
Technology. “We are excited to be the partner of choice for First
Citizens and are committed to providing its private bankers,
financial consultants and a broader group of their customers with
fast and easy access to SBLs through our robust digital technology
solution.”
About First Citizens Wealth Management First
Citizens Wealth Management is a registered trademark of First
Citizens BancShares, Inc. First Citizens Wealth Management products
and services are offered by First-Citizens Bank & Trust Company
(First Citizens Bank), Member FDIC; First Citizens Investor
Services, Inc., Member FINRA/SIPC, an SEC-registered broker-dealer
and investment advisor; and First Citizens Asset Management, Inc.,
an SEC-registered investment advisor.
Founded in 1898 and headquartered in Raleigh, N.C., First
Citizens Bank serves customers at more than 500 branches in 19
states. First Citizens Bank is a major subsidiary of First Citizens
BancShares Inc. (Nasdaq: FCNCA), which has more than $53 billion in
assets. For information, visit firstcitizens.com. First Citizens
Bank. Forever First®.
About Supernova Lending, LLC Supernova Lending,
LLC, a financial technology company based in Chicago, has built an
industry-leading, fully-configurable, end-to-end software solution
to automate securities-backed lending from origination through the
life of the loan. The company empowers lenders, wealth management
firms, and financial advisors with education and software to
deliver a low-interest rate liquidity solution to a broad segment
of their clients. Using state-of-the-art risk monitoring systems,
Supernova provides a robust level of information, data analytics,
and transparency that few in the industry can match. The Supernova
Technology Trademark is used under license from Supernova Lending,
LLC.
Contact: |
Barbara ThompsonFirst Citizens
Bank919-716-2716 |
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