San Francisco, CA (PRWEB) March 30, 2007
PENSCO Trust announced today that it had recently exceeded the milestone of $2 billion in client assets under administration. Tom W. Anderson, president, CEO and founder of PENSCO Trust, stated that "we have benefited, over the past several years, from the increasing interest in alternative assets, (e.g. real estate and private equity) Many individuals desiring to restore wealth and accelerate the growth of their retirement accounts are turning towards alternative assets to improve the diversification of their portfolios. Real estate and private equity asset classes have both helped to fuel our 30% growth rate."
Thirty-five banks have been started with money from PENSCO Trust IRAs and one these banks was recently ranked as the third most successful bank in the U.S. Clients have also benefited by the real estate boom by investing in land, notes and investment properties and many have quadrupled their retirement accounts. Essentially there are only three asset classes the IRS does not permit IRAs to invest in:
- Life Insurance
- Stock in a Sub Chapter S Corporation
Anderson says, "Boomers", continuing to face longer retirement horizons, are looking for more aggressive options to help them build the wealth necessary to sustain them during their retirement years. Clients are frequently shocked when they first discover that they can invest their retirement funds into so many things outside of the stock market, without taking a distribution. Many feel cheated they didn't learn this sooner from their CPA or financial advisor, most of whom are not aware themselves. Consequently, PENSCO Trust offers FREE one-day seminars to the professional community to give them the proper education and tools to better serve investors. For more information on the seminars, visit http://www.penscotrust.com, and click 2007 Mini-Symposium series.
Recognizing the explosive growth and interest in the self directed IRA market, PENSCO Trust has opened a new office in New York, which will be managed by Belinda Savage, VP and Business Development Officer. Ms. Savage can be reached at (201) 660-7879.
PENSCO Trust, founded in 1989, is one of a few firms that specialize exclusively in the administration of self-directed IRAs and Solo(k)s and has helped over 35,000 clients take charge of their retirement.