Business
First Citizens Launches Streamlined Solution for Securities-Based Lines of Credit
RALEIGH, N.C., June 03, 2021 (GLOBE NEWSWIRE) -- First Citizens Wealth Management recently launched the First Citizens Easy Access Line, which provides
About this update from First Citizens Bancshares, Inc.
[{"type":"text","content":"RALEIGH, N.C., June 03, 2021 (GLOBE NEWSWIRE) -- 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 Citizen...