Fidelity and Goldman Sachs partner for non-purpose loans

BOSTON, July 27, 2017 — Fidelity Clearing & Custody Solutions (FCCS) — the division of Fidelity Investments® that provides clearing and custody services to registered investment advisors (RIAs), broker-dealers and family offices — today announced that it has entered into strategic relationships with U.S. Bank and Goldman Sachs to provide access to loans for eligible clients of the wealth management firms that FCCS serves.

In addition to the securities-based lending solutions that FCCS already offers, wealth management firms now have expanded access to non-purpose loans through U.S. Bank and Goldman Sachs, which are secured by the client’s brokerage account assets.

“Wealth management firms are increasingly asked to manage both the asset and liability side of a client’s balance sheet and are looking for a choice of lending solutions and providers, so we continue to see strong demand for these types of products,” said Mike Durbin, head of Fidelity Institutional Product. “By working with several of the major providers in the lending space, our platform offers firms a full suite of options to best meet their clients’ needs.”

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