FAQs


General
Securities-Backed Line of Credit (SBLOC)


General

Who do I contact for questions about my client’s account?
Please contact our Client Experience team at 877.872.9397.

Does my client have access to view their transactions?  
Clients may view all their transactions online by visiting Online Banking at hilliardlyonsprivatebanking.com.

How does my client access the line of credit?
Once the line of credit is in place, your client may access it two ways: by requesting a wire transfer or by using line of credit checks. Your client may select the check option when completing the line of credit application or at any time after the account is opened.  You may order line of credit checks on behalf of your client by calling our Client Experience team at 877.872.9397 or your client may call our customer service department at 877.644.1513.

When can my client expect to receive the line of credit checks?
If your client selected the check option when completing the line of credit application, the checks should arrive within 7-14 business days from account opening.  For any other orders, or reorders, checks should arrive within 7-14 business days from the order date.

How does my client sign up for online statements?
It takes just a minute to sign up for online statements. Your client must log into Online Banking and navigate to “My Accounts > Account Services > Change statement delivery method.” Your client will be provided with disclosures and information about electronic statements and will be asked to consent to receiving statements electronically.

Please note that the client will receive one more paper statement after signing up for online statements. Only statements generated after the online statement activation date are available for online viewing.

Statements are produced only if there is an outstanding balance on the line of credit account.

Online statements can be easily saved to a personal computer or by choosing “Download Banking Transactions” on the Accounts page and then downloading the account history to Quicken®, MS Money® or other accounting software. Statements can be printed if a paper copy is needed.   (Adobe Reader is required).

Can I get a copy of my client’s statement sent to me?
Yes, your client may choose to have statements sent to you by completing a Change Third Party Statement Recipient request.  

Where are the forms for changing items related to my client’s account?
Account maintenance forms are found in the Forms section.

How does my client make payments or pay off the line of credit?
Your client may request to have their loan account paid off in full and closed.  For more information about making payments or to get a payoff quote, click here or call 877.872.9397 .

How may I view a client’s account online?   
TotalCash Manager™, or TCM, is an easy-to-use, secure web-based tool that lets advisors see details of client accounts. For more details or to obtain a TCM User ID and Password, contact David Gray at 502.588.1720. 

 

Securities-Backed Line of Credit (SBLOC)

Can my client continue to use the securities account check-writing privileges? 
Check writing privileges associated with the securities account held at your firm will be terminated when the account is pledged as collateral and the new SBLOC becomes available. Remember, the SBLOC offers check-writing access.

Is trading permitted within the securities account that is being used as collateral for my client’s SBLOC? 
Yes, trading within the securities account being used as collateral for the client’s SBLOC is permitted. However, major changes in the asset allocation of the securities account might reduce the amount available to the client to borrow.

What if a security in the securities account is no longer eligible to serve as collateral, or if while trading in the securities account, an ineligible security is purchased?
Ineligible securities held in the securities account held at your firm will be automatically excluded from collateral valuation, and the SBLOC limit will be adjusted accordingly and in certain circumstances, a request for additional assets could be triggered.

What happens if my client’s securities go down in value?
Depending on the relationship between the value of your client’s securities account, the SBLOC credit limit and the amount, if any, that has been borrowed, devaluation of collateral may:

-      have no consequence;
-      limit access to funds; and/or
-      require a deposit of additional assets or an immediate payment

If the value of the collateral falls significantly, the Bank may contact your client to request that additional funds be placed into the collateral account. If your client’s credit limit is reduced due to a change in collateral value, it is subject to increase as your client’s pledged securities gain in value.

What would cause the credit limit on my client’s SBLOC to be reduced?
The credit limit is automatically reduced if the borrowing power or “Advance Rate” value of the pledged securities no longer supports the approved credit limit. It is important that your client verify both the current credit limit and available credit before requesting advances or writing checks, as no specific notice is provided if the credit limit changes.