SAN FRANCISCO–(BUSINESS WIRE)–PENSCO has expanded The PENSCO Marketplace™ with the addition of four new crowdfunding portals – LendZoan, Equity Round, EarlyShares and SilverPortalXchange. The new participants join the original five sites (CircleUp, HealthiosXchange, I-Bankers Direct, RockThePost and Zanbato) in the online marketplace, a first-of-its-kind network of crowdfunding providers, products and services, giving individual accredited investors unparalleled access to private placement opportunities using their Individual Retirement Accounts (IRAs).
Since its launch in August of this year, The PENSCO Marketplace™ has seen a 25% month- over -month increase in visitors. “As the popularity of crowdfunding portals explodes, we see growing interest in using retirement accounts to invest in non-exchange traded alternative investments,” said Kelly Rodriques, CEO of PENSCO. “We are thrilled that The PENSCO Marketplace™ is becoming a discovery source for investors looking for IRA eligible opportunities.”
According to a recent survey of 682 investors who custody their retirement assets in a self-directed IRA with PENSCO, more than 69% said they would be compelled to use their IRA to invest more in non-traded alternatives if they had more accessibility to investment opportunities.
PENSCO has pre-reviewed many of the offerings found on the participating crowdfunding sites in an effort to help expedite the ability for an investor to purchase the investment using retirement monies.
In addition to bringing together pre-reviewed opportunities from the crowdfunding platforms, The PENSCO Marketplace™ also includes professional resources, such as access to attorneys, financial planners and tax professionals who specialize in real estate, private placements and various other alternative investments.
The expansion of The PENSCO Marketplace™ comes at a time when investors are in need of more educational resources and tools around using their retirement dollars to invest in non-traded alternative assets. According to PENSCO’s client study, more than 50% of respondents said they don’t understand how to find a private placement opportunity that would meet their risk tolerance and investment goals. And only about a quarter of the respondents said they understand how to invest in private equity through a crowdfunding platform.
“While crowdfunding has opened up a whole new world of opportunities, we recognize that along with investor interest comes the need for additional education and awareness about using retirement dollars to access deals on these platforms,” continued Rodriques. “The PENSCO Marketplace™ is intended to be a go-to resource for individual investors’ alternative investing needs and we look forward to continuing to add providers and resources for our clients and our partners in 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 the trusted custodian of $11 billion in assets on behalf of more than 45,000 clients, PENSCO works with asset 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.
To learn more visit www.pensco.com.
PENSCO Trust Company performs the duties of an independent retirement custodian, and, as such, does not provide investment advice, sell investments or offer any tax or legal advice. PENSCO is not affiliated with any financial professional, investment, investment sponsor, or investment, tax or legal advisor; including any who are listed in The Marketplace. Clients or potential clients are advised to perform their own due diligence in choosing any investment opportunity as well as any professional to assist them with an investment opportunity. Alternative investments are not FDIC insured and are subject to risk, including loss of principal. The list of individuals in The Marketplace should not be considered a complete list of individuals/firms with whom you may work, and is being provided for informational purposes only. It is not intended as an individual recommendation, and each individual is encouraged to perform their own due-diligence on any financial professional with whom they intend to work.
Davis MacMillan, 718-801-8862