‘Tis the season for charitable giving. Nearly one-third of charitable giving occurs in December, as Americans close out the books on the year and... Read this article »
About PENSCO Trust
Scale, Experience and Resources
Because holding alternative assets in retirement accounts requires special knowledge and handling, many broker-dealers don’t offer alternatives as an option for IRAs, that’s where we come in. Founded in 1989, PENSCO Trust Company is a regulated, self-directed IRA custodian with nearly $14 billion in assets under custody and 49,000 client accounts (9/30/2018).
PENSCO is a leading alternative asset custodian, with more than two decades of expertise in holding private equity, real estate, notes, and other non-exchange traded assets. We possess knowledge and experience with IRS rules and regulations for holding alternatives in IRA, and we are dedicated to continuing to innovate technology to streamline the alternative asset investment process.
Our services don’t end with individual investors, though; PENSCO also provides solutions and services to Registered Investment Advisors, financial planners, investment sponsors, crowdfunding platforms and professional service providers seeking an alternative asset custodian for their clients. Industry professionals can find more resources here.
A Dedicated Team of Experts
PENSCO experts review each new transaction to ensure proper custody of the asset and document IRA ownership for tax deferment and IRS reporting needs — over the lifetime of the asset. We have the knowledge needed to efficiently handle all aspects of account administration and as alternative asset experts we are able to guide clients through complex transactions within qualified accounts.
At PENSCO, we pride ourselves on delivering a premier level of service throughout the entire investment process. With nearly 42,000 assets, our service team offers custodial expertise on a broad range of alternative assets from real estate to private equity, and everything in between.
What We Do (and Don’t Do)
As a self-directed IRA custodian, PENSCO is responsible for facilitating the initial investment and administering the assets in our clients’ accounts over the course of the assets lifetime. We manage the extensive recordkeeping required by the IRS and handle the reporting of contribution, distribution and investment activity within the account, including quarterly reports, processing of annual asset valuations and other documentation. We take the security of our clients’ personal and financial information very seriously and we continually monitor and upgrade our systems. We protect our customers’ personal information behind secure networks and the use of encryption technology, and we do not sell personal information to anyone.
Investors and their advisors — not the IRA custodian — are solely responsible for evaluating the investment’s merits and suitability. PENSCO’s role is to determine if the investment may be administered in a self-directed IRA. We do not approve or endorse the actual investment.
A New Chapter
As of April 14, 2016, PENSCO was officially acquired by Opus Bank (“Opus”) (NASDAQ:OPB) and continues to operate and serve clients as a wholly-owned subsidiary of Opus.
The combination of PENSCO and Opus forms a robust and highly competitive alternative asset wealth services business for our clients. Together, the two companies share a common client base, including entrepreneurs, business owners, real estate investors, high net worth individuals, private equity firms, and investment banks that seek financial products, services, and solutions that enable them to grow and manage their wealth. In addition, we share a common expertise in real estate, private equity and technology-related assets.