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PENSCO Trust Company is Now Pacific Premier Trust

For over 30 years, PENSCO has helped clients take an active role allocating their retirement investments, providing them with the opportunity to diversify their portfolios and grow wealth. We're proud to offer award-winning expertise to both individual and institutional investors and as of June 1, 2020, our veteran team of alternative-asset specialists are now Pacific Premier Trust, a Division of Pacific Premier Bank, expanding the capabilities of the of the 6th largest bank headquartered in the Western U.S.1

Our commitment to service you rely on will continue. 

Recognized as one of America's Best Banks

Pacific Premier Bank is one of the strongest-performing, most-diversified, and fastest-growing banks in the nation.  Founded in 1983 and headquartered in Irvine, California, it serves businesses and individuals throughout the United States. 

  • Ranked #3 of America's Best Banks by Forbes (2020)2
  • 5-Start Rating from Bauer Financial - Recommended for 55 consecutive quarters (2019)

 

1 Note: Financial information as of 12/31/2019 and market data as of 1/31/2020. Rank based on company headquarters and total assets, excluding CCAR and ethnic focused institutions. Western U.S. includes AZ, CA, NV, OR, and WA.

2 © 2020, Forbes Media LLC. Used with permission.

 

Acquisition & Continued Growth | 2016-Present

On June 1, 2020 PENSCO Trust Company enters a new chapter when it becomes Pacific Premier Trust, a Division of Pacific Premier Bank. Pacific Premier Bank is a wholly owned subsidiary of Pacific Premier Bancorp, Inc (NASDAQ: PPBI).

PENSCO has continued to expand its services to institutions and financial advisors. The company serves as successor custodian to top tier financial services firms and large broker-dealers and has created an innovative API solution to provide custodial support to online investment platforms.

PENSCO continues to make it possible to invest in alternative assets within an IRA and is committed to leading the industry in providing service and education to self-directed IRA investors.

Expansion & Innovation | 2010-2015

PENSCO experiences rapid growth, growing from $5 billion to $10 billion in Assets Under Custody and serving up to 50,000 clients.

In 2012, San Francisco-based PENSCO acquires the self-directed IRA business of Lincoln Trust, a Denver-based alternative asset custodian, and becomes the largest independent custodian of alternative investments based on assets under custody in the United States. From the acquisition, PENSCO focuses on growing its operations in Denver and in 2015 launches the award-winning Alt-Nav fintech solution that streamlines the alternative asset investing process.

Founding & Early Years | 1989-2009

PENSCO's story begins in 1974, when Individual Retirement Accounts (IRAs) are introduced as part of the Employee Retirement Income Security Act (ERISA) legislation, enacted to regulate employee benefit plans. In 1989, Tom Anderson starts PENSCO when he sees an opportunity to help people invest in non-standard assets – like real estate, private equity, and other complex investments – with their IRAs.

PENSCO quickly emerges in the industry as a technology pioneer and becomes an active member of the Retirement Industry Trust Association (RITA), which works to advocate for and educate both consumers and professionals about the self-directed IRA industry. In 2010, after running the company for 21 years, Tom Anderson transitions the role of CEO to a new leader. While maintaining his role as Chairman of PENSCO, he becomes president of RITA - a role he continues to hold through 2019.

Pacific Premier Trust through the years

Take a spin through our interactive timeline to learn about our 30+ year history.

  1. PENSCO was founded on December 6, 1989.

  2. First alternative asset custodian to enable clients to view their transactions and asset holdings online.

  3. First alternative asset custodian on the Internet.

  4. Pioneered PENSCO's Power Professional Directory, a national reference database of professionals who know how to work with alternative asset investments: Registered Investment Advisors, CPAs, attorneys, and other professionals.

  5. First alternative custodian to offer online IRA application.

  6. First alternative custodian to provide automatic email notifications of each transaction.

  7. First alternative custodian to host a national symposium on self-directed alternative asset investing for CPAs, attorneys and financial advisors.

  8. PENSCO Trust acquires the self-directed IRA business of Lincoln Trust, a Denver alternative asset custodian, to become the nation’s largest independent custodian of alternative investments by assets at the time.

  9. PENSCO launches the award-winning Alt-Nav™ online investing platform.

  10. April 14, 2016: PENSCO is officially acquired by Opus Bank and continues to operate and serve clients as a wholly-owned subsidiary.

    PENSCO’s Alt-Nav platform is recognized for “Most Innovative Technology Solution” at 2016 HFM US Technology Awards.

  11. The company is chosen by many of the nation’s most well-known broker-dealers, such as Morgan Stanley and UBS, as successor custodian for their clients holding alternative assets in IRAs.

  12. PENSCO launches Custodian Connect, an API-driven solution providing investment platforms a fully integrated end-to-end and paperless process for providing their clients the option to invest via an IRA.

    PENSCO is recognized by WealthManagement.com for Alt-Nav™ online investing technology.

  13. PENSCO launches Fund Custody Services for Private Funds. With 30 years of alternative asset custody experience, PENSCO can now custody private funds and help Fund Managers or Registered Investment Advisors comply with the Custody Rule.

  14. On June 1, 2020 PENSCO enters a new chapter when it joins Pacific Premier Bank and becomes Pacific Premier Trust.