A new partnership between broker-dealer Kestra Financial and Goldman Sachs Private Bank Select (GS Select) will enable financial advisors to refinance existing securities-backed lines of credit (SBLs).
GS Select is a securities-based lending solution that uses diversified, non-retirement assets in a client’s pledged account as collateral. SBLs are offered through a digital origination and servicing platform allowing clients to apply for a no-fee revolving line of credit up to a maximum draw of $25 million, with a minimum draw of $75,000.
Goldman Sachs Bank, headquartered in New York, offers GS Select SBLs based on credit qualification and collateral. SBLs carry certain risks that advisors should first discuss with their clients before they apply for credit approval.