As Originally Published on finance.yahoo.com
Lincoln Financial Network (LFN), the retail wealth management affiliate of Lincoln Financial Group (LNC), today announced a new agreement with Goldman Sachs Private Bank Select® (GS Select™) to offer its securities-based lending solution to LFN advisors and their clients. This digital platform expands the services advisors can recommend across their clients’ entire balance sheet.
GS Select is an online loan origination and servicing program that simplifies the application and borrowing process. It combines technology with personalized support to allow advisors to provide clients access to liquidity for major life events – including tuition, home purchases and renovations, bridge financing and start-up funding. GS Select uses diversified, non-retirement investment assets in a client’s pledged account as collateral.
“LFN is committed to investing in advanced market solutions, products and platforms to help our advisors best serve their clients,” said David Armstrong, vice president of investment products and platforms at Lincoln Financial Network. “Adding GS Select to our diverse portfolio of services will enhance our advisors’ growing capabilities and resources.”
“The GS Select lending solution gives advisors the ability to help their clients meet their planned and unplanned liquidity needs through our flexible, timely and transparent platform,” said Whit Magruder, managing director at Goldman Sachs and head of GS Select. “We are excited to work together with LFN to provide their advisors and clients with GS Select.”
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, as well as to guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (LNC) and its affiliates. The company had $253 billion in assets under management as of March 31, 2019. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good. Additionally, Lincoln is dedicated to upholding a diverse and inclusive organization and was recognized by Forbes as one of the Best Large Employers, Best Employers for Diversity, and Best Employers for Women and received a perfect score of 100 percent on both the Corporate Equality Index and Disability Equality Index. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.
About Lincoln Financial Network
Lincoln Financial Network is the marketing name for the retail sales and financial planning affiliates of Lincoln Financial Group and includes Lincoln Financial Advisors Corp. and Lincoln Financial Securities Corp., both members of FINRA and SIPC. Consisting of approximately 8,900 representatives, agents, and full-service financial planners throughout the United States, Lincoln Financial Network professionals can offer financial planning and advisory services, retirement services, life products, annuities, investments, and trust services to affluent individuals, business owners, and families. Lincoln Financial Group is the marketing name for Lincoln National Corporation (LNC) and its affiliates. Find us on LinkedIn, Facebook, Twitter and YouTube.
About Goldman Sachs Private Bank Select®
GS Select currently works with over 100 RIAs and Broker-Dealers supporting tens of thousands of financial professionals as they work to meet the financial needs of their clients. GS Select builds upon the extensive lending expertise of Goldman Sachs’ Private Bank and offers digital securities-based lines of credit as a liquidity solution for all kinds of client cash needs. Learn more on LinkedIn and welcome.gsselect.com.
Goldman Sachs Private Bank Select: Loans are offered by the Salt Lake City branch of Goldman Sachs Bank USA (GS Bank), a New York State-chartered bank and a wholly-owned subsidiary of The Goldman Sachs Group, Inc. GS Bank is a member of the Federal Reserve System and Member FDIC. Goldman Sachs Private Bank Select is a business of GS Bank. Securities based loans may not be suitable for all loan parties (e.g., borrowers, pledgors, and guarantors) and carry a number of risks, including but not limited to the risk of a market downturn, tax implications if pledged securities are liquidated, and the potential increase in interest rates. If the value of pledged securities drops below certain levels, loan parties may be required to pay down the loan and/or pledge additional securities. The risks are described in the Product Guide and FAQs available upon request. You should consider these risks and whether a securities based loan is suitable before proceeding.