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About Pacific Premier Trust Company

Throughout their history, Pacific Premier Trust has helped clients take an active role in their retirement investments, providing them with the opportunity to diversify their portfolios and grow wealth, their way. With 30 years under their belts, they are proud to offer award-winning expertise to both individual and institutional investors.

Founded

1989

Leadership

Richard Immesberger – President

Jennifer Tsang – Chief Financial Officer

David Foxhoven – Chief Operating Officer

Eric Rapp – Chief Technology Officer

About

Assets Under Custody

$14 billion

Company Size

237

Number of Clients

46,000

History

1989 – Tom Anderson founds Pensco

2001 – Started the Power Professional Directory

2012 – Pensco acquires Lincoln Trust and becomes the country’s largest independent custodian of alternative investments

2015 – Pensco launches the Alt-Nav platform aimed at streamlining alternative investing

2016 – Pensco is acquired by Opus Bank

2018 – Pensco launches Custodian Connect

2019 – Pensco launches Fund Custody Services for Private Funds

2020 – Pensco becomes a division of Pacific Premier Bank and is renamed Pacific Premier Trust

Services

Pacific Premier Trust (Pensco) offers all the standard Self Directed IRA services, including:

Self Directed IRA account establishment
Account administration and maintenance
Account transactions including outgoing wires, cashier checks, returned checks, overnight mailings, notary services, medallion signatures, Roth or IRA re-characterizations, quarterly processing fees for real estate, notes or tax lien payments, custom account research, account summaries, annual asset valuation, and annual tax reporting. (Tax reporting includes issuing IRS Tax Form 5498, IRS Tax Form 1099-R, and recording contributions, dividends, and investment income.)

Unique Services

Alt-Nav – Alt-Nav is a technological solution that aims to streamline alternative investing. It gets rid of a lot of the paperwork by utilizing a drag-and-drop interface. This allows investments to be processed without the standard scanning, copying, faxing, and mailing. The online portal enables account opening, account funding, document submission, and identity verification.
Custodian Connect – This is an API platform that enables connection between standard investing platforms and Pacific Premier Trust (Pensco). It’s primarily intended for financial professionals who want to offer their clients the ability to invest in alternative assets, but still keep the management within their internal systems. This platform offers digital consent, Automated Customer Account Transfer Service (ACATS), and white labeled integration.
Pensco Fund Custody Services – Provides Custody Rule compliance for alternative asset funds. In addition to the custody services themselves, Pensco also provides quarterly statements and a dedicated Relationship Manager.
ESOP Transition Solutions – This service allows for continued holding of private stock in ESOPs (Employee Stock Ownership Plans) that are terminating or being modified. Pensco works with the plan sponsors, company representatives, and legal advisors to inform ESOP participants how to maintain their stock ownership in a tax advantaged account. The main vehicle to accomplish this goal is to transition employees into a Self Directed IRA.

Process and Timeframe

Here is the process and timeframe according to Pensco’s website:

Choose an investment and get educated about IRS rules regarding Prohibited Transactions.
Decide what kind of Self Directed account best serves your needs.
Open an account. This is accomplished by completing an online form and submitting any necessary documentation. After the application is completed, Pacific Premier Trust (Pensco) will have the account open within 24 hours.
Fund the new account with an initial contribution or by rolling over funds from a previous account. This requires completing another form and submitting documentation. Pacific Premier Trust (Pensco) will start the fund transfer within two days, but there will be an additional time lag based on where the funds are coming from. This could be 3-4 days from a standard IRA Custodian to a few weeks from a 401(k).
Choose an asset to invest in. This requires submitting the necessary documentation to Premier Pacific Trust (Pensco) who will review it for IRS eligibility. This normally takes 2-3 days upon receipt of the requested documents. Documents that come from an outside party (e.g. mortgage broker) add on extra time. This will typically be 5-10 days.