First Citizens Launches Streamlined Solution for Securities-Based Lines of Credit

Rhea-AI Summary

First Citizens Wealth Management has launched the First Citizens Easy Access Line, offering securities-based lines of credit (SBL) across all 50 states through a partnership with Supernova Technology. This service allows clients to utilize their non-retirement investment portfolios as collateral, ensuring continued investment while accessing liquidity. According to Steve Gilland, the new SBLs are designed for ease of access and flexibility, benefitting clients with immediate financial needs. The collaboration aims to enhance the digital experience for clients and financial advisors alike.

Positive

• Launch of First Citizens Easy Access Line providing SBLs in all 50 states.
• Partnership with Supernova Technology enhances digital access for clients and advisors.
• Clients can use their investment portfolios as collateral, maintaining investment strategies.

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• None.

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 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 Thompson First Citizens Bank 919-716-2716

FAQ

What is the First Citizens Easy Access Line?

The First Citizens Easy Access Line is a newly launched service providing securities-based lines of credit (SBL) to clients across all 50 states.

How does the First Citizens Easy Access Line benefit clients?

Clients can borrow against their First Citizens-managed non-retirement investment portfolios while maintaining their investment strategies and access to liquidity.

Who partnered with First Citizens Wealth Management to launch this service?

First Citizens Wealth Management partnered with Supernova Technology to enhance the digital experience for providing securities-based lines of credit.

When was the First Citizens Easy Access Line launched?

The First Citizens Easy Access Line was launched on June 3, 2021.

What are the advantages of using Supernova Technology for SBLs?

Supernova Technology provides a faster, more collaborative experience, enabling clients to access securities-based lines of credit more efficiently.