Self-Directed IRA Investors: Steps You Can Follow to Mitigate IRA Fraud
Many self-directed IRA owners are savvy investors who enjoy actively managing their retirement savings and choosing their own investments. But al... Read this article »
As an IRA custodian, PENSCO is a highly-regulated non-depository trust company that is permitted to custody assets in an IRA. Both state and federal government agencies provide oversight to custodians, and there are stringent policies, procedures and internal controls in place. As a regulated entity, we’re required to maintain certain coverages as well. Our operational processes and procedures are also subject to regular audit and examination.
Other providers offering IRA services – like administrators and facilitators – are not subject to direct regulatory supervision. Unlike custodians, they don’t have regulatory bodies ensuring their financial stability, the safety of their customer funds or the efficacy of their security controls.
For your peace of mind, it’s important that the service provider you choose to hold your IRA is regulated and in good standing. If a custodian is not accredited, there is no guarantee they have met these standards and you could be more susceptible to fraud. Check out our section on ‘Choosing an IRA Custodian’ for a complete checklist on performing due diligence on your custodian.
PENSCO is committed to maintaining the highest level of integrity in our industry and have designed our business practices to protect our clients. Keeping your personal data and account information secure is a top priority. To guard against unauthorized access to your account and to keep your personal information safe we:
Here are tips you can follow to help safeguard your information and prevent unauthorized access to your account: