Kestra Financial Expands Business Capabilities with GS Select
26 March 2019 - 10:00PM
Business Wire
Kestra Financial, Inc. (Kestra Financial) and Goldman Sachs
Private Bank Select® (GS Select™) today announced the availability
of the GS Select lending program to independent financial advisors
and clients associated with the company’s largest broker-dealer and
investment advisor subsidiaries.
GS Select offers securities-backed lines (SBL) of credit through
a digital origination and servicing platform combined with a
high-touch experience for advisors and their clients, which makes
applying for and using a loan simple. The program combines
proprietary technology with personalized support from a dedicated
team of lending managers to streamline the borrowing process.
“Our primary focus is to help advisors meet their clients’
liquidity needs without disrupting their investment plans. The
combination of technology and people makes the process of getting
and using our loans easy, efficient and transparent. As a result,
we can meet the needs of advisors and clients in a timely and
flexible way,” said Whit Magruder, Managing Director at Goldman
Sachs and head of GS Select.
Kestra Financial advisors can now expand their business
capabilities by offering a solution that meets the financial needs
of both sides of their clients’ balance sheets. Advisors’ clients
now have the opportunity to refinance existing SBL’s with GS
Select.
“Kestra Financial is proud to offer a culture rich in
reinvention and innovation,” said Kris Chester, Chief Operating
Officer at Kestra Financial. “We are constantly working to improve
our offering of new tools and services designed to enhance the
ability of our advisors to meet the needs of their clients.
Partnering with the GS Select team to make this lending solution
available directly supports our commitment to providing a superior
client and advisor experience.”
About Kestra Financial Inc.
Kestra Financial, Inc. (Kestra Financial) provides a leading
independent advisor platform that empowers sophisticated,
independent financial professionals, including traditional and
hybrid RIAs, to prosper, grow, and provide superior client service.
With a culture rich in reinvention and advisor advocacy, Kestra
Financial has developed integrated business management technology
that, combined with its personalized consulting services, offers
exceptional scale and efficiency.
Headquartered in the “Silicon Hills” of Austin, Texas, Kestra
Financial offers an experience as unique as the city in which it
operates. The firm supports more than 1,800 independent financial
advisors in delivering comprehensive securities and investment
advisory services to their clients. Kestra Financial is the parent
company of Kestra Investment Services, LLC, member FINRA/SIPC, and
also of Kestra Advisory Services, LLC; Kestra Private Wealth
Services, LLC; and Kestra Institutional Services, LLC; all
federally registered investment advisors. Kestra Financial is not
affiliated with Goldman Sachs Bank USA. For more information about
Kestra Financial, please visit www.kestrafinancial.com.
About GS 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 was
built upon our wealth management and lending expertise to help
independent advisors enhance their client relationships,” said
Andrew Kaiser, head of the Goldman Sachs Private Bank. “By
integrating technology with lending expertise across the life cycle
of a loan, we are able to more quickly and efficiently meet the
needs of financial advisors and their clients.” Chester adds,
“Choosing to work with GS Select leverages the best of what we are
providing our independent financial professionals: quality
technology in support of personalized consulting services. We are
excited to launch this new program.”
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.
This is not a commitment to lend. Credit qualification and
collateral are subject to approval. Additional terms and conditions
would apply. Products, rates, qualifications, and terms and
conditions are subject to change in GS Bank's sole discretion and
without notice.
© Copyright 2019 Goldman Sachs, All Rights Reserved. Goldman
Sachs Private Bank Select is a registered trademark of Goldman
Sachs & Co. LLC.
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version on businesswire.com: https://www.businesswire.com/news/home/20190326005447/en/
Gregory FCA for Kestra FinancialLeah Katsanis,
610-228-2117kestra@gregoryfca.com
Patrick Scanlan for Goldman Sachs(212)
902-5400patrick.scanlan@gs.com
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