Alt-Nav technology recipient of WealthManagement.com Industry Award.

SAN FRANCISCO: PENSCO Trust Company's Alt-Nav technology was the recipient of the prestigious 2018 WealthManagement.com Industry Award in the category recognizing Custodians in Alternative Assets.

PENSCO's Alt-Nav solution streamlines opening, funding, and investing in alternatives using individual retirement accounts. PENSCO Trust Company, a wholly-owned subsidiary of Opus Bank ("Opus") (NASDAQ: OPB), is a leading alternative asset IRA custodian with $14 billion of assets under custody and nearly three decades of expertise providing custodian services for self-directed IRAs, qualified plans, and other self-directed accounts that are invested in alternative assets, including private equity, real estate, notes, cash, and other non-exchange traded assets.

Beginning in 2017, PENSCO further enhanced the Alt-Nav process with back office platforms that improved operational efficiencies and included the launch of a new automated transfer platform. These enhancements enabled improved scalability and turnaround times, increased efficiency, and created a better client experience. In 2015, PENSCO launched Alt-Nav, which enables investors and/or their advisors to provide information to open a self-directed IRA account, fund the new account, and initiate an alternative asset investment, all online.