Recognizing the growing interest among individual investors to hold alternative assets in their self-directed retirement accounts, but realizing the challenge in being able to locate and invest in private placements, PENSCO announced on Wednesday (August 6th) the launch of The PENSCO Marketplace, a considered first-of-its-kind network of provides, products and services for alternatives asset investors.
CEO of PENSCO, Kelly Rodriques, stated, “Our goal is to be the go-to resource for individual investors and their advisors who want to hold alternative assets in their retirement accounts. Whether it is seeking a private placement opportunity in the expanding crowdfunding space, or using IRA funds to invest in a condominium or office complex, we will make it possible for investors to find the resources they need to help meet their long-term investment goals.”
As part of the launch, PENSCO is working with a number of new crowdfunding sites that give accredited investors access to private placement opportunities in a variety of industries. PENSCO has pre-reviewed many of the offerings found on the participating crowdfunding platforms in an effort to expedite the ability to accept qualified retirement dollars. These platforms that are initially featured are the following:
- CircleUp
- FundRise
- HealthiosXchange
- I-Bankers Direct
- Rock the Post (a Onevest company)
- Zanbato
Rodriques added, “Equity-based crowdfunding is an area that we are watching closely, as it continues to gain traction among self-directed IRA investors who are knowledgeable and passionate about investing in this space. As more of these platforms come to market, we want to provide exposure to these investments for our existing and prospective clients.”
In addition to the crowdfunding platforms, the launch of The PENSCO Marketplace also includes professional resources, such as access to attorneys and accountants who specialize in real estate, private placements, and various other alternative investments and may be needed to help an investors facilitate his/her alternative asset investment. PENSCO plans to actively expand the marketplace in order to help investors connect with the investment opportunities and professional resources they are looking for now and into the future.
PENSCO Trust Company has been helping investors use their retirement account funds to invest in real estate, private equity, and other non-exchange traded assets since 1989. As a trusted custodian of over $11 billion in assets on behalf of more than 45,000 clients, PENSCO works with assets sponsors, financial institutions, and financial advisors, as well as self-directed investors who typically have a point of view about alternative investments based on their own knowledge or expertise and want to put their tax-advantaged retirement dollars to work in these opportunities.