FOR IMMEDIATE RELEASE:
Industry Leaders Aim to Set a Precedent with Enhanced Digital IRA Client Experience and Improved Security as They Continue to Adhere to Qualified Custodian Guidelines
IRVINE, CA., February 16, 2023 - iTrustCapital, the leading self-directed digital IRA platform for individual investors, announces its strategic partnership and integration with Fortress Trust Company based in Summerlin, Nevada. Fortress is a technology-driven financial institution that, as a regulated qualified custodian, specializes in the custody of alternative assets including cryptocurrencies, private securities, real estate, precious metals and other asset classes.
This integration with Fortress Trust is intended to bring vastly improved client onboarding processes alongside numerous new features and benefits including streamlined account-opening experience coupled with strong safety and soundness. In addition to achieving these goals iTrustCapital is committed to facilitating access to an unrivaled portfolio of self-directed IRA investment options, adding a more robust user experience, and improving overall transparency and client security.
"The self-directed retirement industry is evolving rapidly and we are constantly seeking technology solutions and regulated service partners that can help improve efficiencies and mitigate risk in order to continue to serve our clients with excellence. After evaluating nearly a dozen trust companies and technology service providers over the last year, we are thrilled to announce our partnership with Fortress Trust. We can now offer our clients more opportunities to grow their self-directed IRA investment portfolio utilizing a secure and innovative trust service provider," said iTrustCapital CEO, Kevin Maloney. "The integration with Fortress Trust will provide iTrustCapital clients with increased benefits, making it easier and more convenient for working professionals to plan their retirement journey, with improved security and compliance features that we believe will set a precedent for the industry."
Expected benefits of the integration include instant and nearly frictionless Know Your Customer (KYC) processing during onboarding, expanded availability nationwide and globally, increased digital asset options, continued availability of physical precious metals such as gold and silver, and upcoming availability of additional alternative assets such as fractional real estate, private equity and interest earning cash sweeps on FBO client USD positions. Additionally, iTrustCapital clients will have the ability to set up recurring contributions and dollar-cost averaging, which is expected in Q2.
"Fortress Trust is excited to join forces with iTrustCapital. Compliance and client security are of the utmost importance to us and are at the forefront of everything we do. This is why we are dedicated to daily account reconciliation of segregated client accounts, monthly third-party attestation of client assets, and keeping all client assets off balance sheet at all times, providing added peace of mind for our fintech partners and their customers,” says Albert Forkner, Fortress’ CEO and former Banking Commissioner of Wyoming.
As part of iTrustCapital’s partnership with Fortress Trust, the company will be migrating client accounts from iTrustCapital’s legacy trust services provider to Fortress Trust, ensuring clients' accounts remain secure and otherwise adhere to important compliance standards, such as SOC2.
For additional information on iTrustCapital’s expanding products and services or more details related to the Fortress integration, click here.
iTrustCapital is the leading self-directed digital IRA platform for individual investors. With a focus on innovation and customer service, the company provides a user-friendly technology interface and 24/7 transacting, allowing clients to easily access alternative assets such as physical gold, silver, cryptocurrencies, and others. The company is on a mission to inspire millions of working professionals to participate in their retirement planning journey and revolutionize the way in which fintech platforms deliver an extraordinary client experience - from onboarding and account security to live-phone support - with trust, transparency, and integrity at the core of everything it does. For more information, please visit, www.itrustcapital.com.
About Fortress Trust
Founded by a team of notable state banking commissioners, bankers, trust experts and VC-backed fintech leaders, Fortress Trust Company is purpose-built to provide financial, regulatory and technology infrastructure for innovators in the rapidly emerging Web3 space. This includes API-driven financial services for qualified custody of digital and alternative assets, eTrust (including IRA's, '40 Act, and asset protection trusts), ePayments, compliance, and crypto liquidity coupled with embeddable NFT & crypto wallets, tokenization engines, and secure data vaults.
The Fortress Trust team has held senior positions at prominent firms such as Goldman Sachs, UBS, Robinhood, Coinbase, Google, Madison Trust, Wells Fargo, Signature Bank, BlockFi, Kabbage, MX, FIS, WorldPay, and the Wyoming Banking Commission, among others. The company offers off-chain custody for more than 200 tokens, FX/liquidity for dozens of fiat and crypto assets, company operations, controls, and security that have undergone SOC 2 audit, ISO 27001, ISO 27701, ISO 20000 and ISO 14385 certifications. The company conducts various periodic enterprise-wide risk assessments and independent financial and BSA risk audits, including monthly cybersecurity penetration testing. Fortress Trust also offers monthly attestations by an independent audit firm confirming that all client assets are held off-balance sheet. Fortress’ APIs and services can be viewed at www.fortresstrustcompany.com.
Cryptocurrencies are a speculative investment with risk of loss. Some taxes and conditions may apply depending on the type of IRA account. iTrust Capital, Inc. does not provide legal, investment or tax advice. We recommend seeking the advice of a qualified legal, investment, or tax professional.
iTrustCapital, Inc. makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) regarding information contained in, or for any omissions from, this document or any other written or oral communications transmitted to the recipient in the course of its evaluation.
iTrustCapital, Inc. disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or or indirectly from any use of this information, which is provided as is, without warranties.
© 2023 iTrustCapital, Inc. All rights reserved.