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.