Pensco, an alternative asset custodian for self-directed IRA investors, announced on Monday it has launched Custodian Connect, an API-driven capability that seamlessly connects investment platforms to Pensco enabling uninterrupted opening and funding of an IRA from within the platform.
According to Pensco, Custodian Connect enables a fully integrated end-to-end paperless process, eliminating duplication of data entry, and is the first of its kind to also provide digital consent and Automated Customer Account Transfer Service (ACATS) to expedite funding transfers. Patrick Hughes, President of Pensco, stated:
“Custodian Connect builds on the success of our award-winning Alt-Nav technology and, combined with our reputation for institutional-quality relationship management, provides platforms with an experienced partner to reach into the $8.6 trillion IRA market.”
Pensco added it is a trusted custodian of more than $16 billion in assets and over 50,000 client account. It works with financial institutions, capital raisers, financial advisors, marketplace lenders, and self-direct investors.