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Fidelity and Goldman Sachs Team Up for RIA Lending

By Alex Padalka July 27, 2017

Fidelity Clearing & Custody Solutions has partnered with U.S. Bank and Goldman Sachs to offer lending services to wealth management clients served by firms using Fidelity for clearing and custody, the company says in a press release.

The new partnership will let the RIAs, broker-dealers and family offices on Fidelity’s platform offer non-purpose loans, secured by the clients’ brokerage account assets, though U.S. Bank and Goldman Sachs, according to the press release. That’s in addition to the securities-based loans FCCS already offers, the company says.

U.S. Bank also offers access to “other sophisticated credit products” through its private banking team, according to the press release.

“Advisors are able to retain clients’ assets and maintain the integrity of client accounts while providing their clients with access to comprehensive and customized banking solutions,” Rachel Ferguson, national private banking director for U.S. Bank, says in the press release. “This interconnected approach between the advisor and private banking team helps support clients’ overall financial plans through a seamless and personalized experience.”


Goldman Sachs, meanwhile, offers securities-based loans between $75,000 and $25 million, Fidelity says. By digitizing the lending process, Goldman’s services can purportedly cut processing time to as little as one day, Fidelity claims.

“By applying technology across the life cycle of a loan –- from origination through collateral management –- we are able to more quickly and effectively meet the needs of financial advisors and their clients,” Andrew Kaiser, head of the Goldman Sachs Private Bank, says.