Episode Transcript
[00:00:00] Speaker A: You're listening to the Preferred Way, a retirement podcast brought to you by Preferred Trust Company, the preferred custodian for all alternative investments.
[00:00:09] Speaker B: Welcome to the Preferred Way podcast. This week, we're going to switch it up. I'm going to be the moderator, and I'm going to be asking Chris Tremblay, our director of operations, questions. And this week, we're going to do something a little bit different.
It's called can you buy that?
And not to be mistaken by, you know, what's behind door number one, door number two, and door number three, but kind of. Okay, so I want to start with what is the most unusual.
[00:00:41] Speaker C: I was thinking about this, that you.
[00:00:43] Speaker B: Have seen a client come to us with, and you're like, you're gonna what?
[00:00:50] Speaker C: I know it's. Well, when I first started many, many years ago, and I wasn't quite sure what you could and couldn't do, I was still learning. I had a client buy a big, green leafy ma.
[00:01:04] Speaker B: Time out. What is a big, green, leafy machine?
[00:01:07] Speaker C: Well, come to find out, it was actually part of the farm equipment that he was using to cultivate the lettuce that he was selling at the grocery stores.
So that's what the green leafy machine was. And so that's what he was investing in. Okay, so that was kind of unusual, but also kind of like, can you actually do that?
[00:01:27] Speaker B: Yeah.
[00:01:27] Speaker C: And back then, I wasn't sure, but come to find out. Wow, you can. And then since then, we've had a whole bunch of interesting things.
[00:01:33] Speaker B: Yeah.
[00:01:34] Speaker C: Yeah.
[00:01:34] Speaker B: Okay. So I know that sometimes we look at IRAs as, you know, I invest in stocks, bonds, mutual funds in my ira, which I think most people recognize and understand that they can do.
But what can you not do? I want to start there because, really, when we talk about unusual and can you buy that? There's only a couple things that you can't. But I want to dig into those a little bit more. So what are the things you cannot? Let's start with the cannons.
[00:02:02] Speaker C: Okay, so we'll kind of look at them.
So there's three things. Basically, collectibles is one of them. So art like paintings on your wall? Because the IRS really can't track that. Right.
And so art's out rugs.
[00:02:18] Speaker B: But what if the art was custody by preferred trust and it's not in my home? Would that help?
[00:02:24] Speaker C: Is it going to be in our home? Because I don't know where we'd store it.
[00:02:28] Speaker B: Yeah, where we store all this.
[00:02:30] Speaker C: Right.
So, like, precious metals that are allowable they're stored at a depository, so we know where they are. They're counted. There's inventory, but there's nothing.
[00:02:39] Speaker B: Collectibles, okay.
[00:02:41] Speaker C: Take your rugs, take your wall art, whatever. Cars. Exactly. Like, where exactly are you going to store those? So that in essence, the IRS could come in and do an audit and look at all that.
[00:02:53] Speaker B: So we'll consider that a hobby.
[00:02:55] Speaker C: Correct?
Yes. You can't drive away with your collectible car. That's on the personal side of things.
So collectibles is one.
The next one is alcohol.
So like your bottle of vodka. Like. Yeah, again, they can tell whether you drink it or not. So.
[00:03:13] Speaker B: And I would have.
[00:03:14] Speaker C: And. Yep. And storage issues and that type of thing. There are ways you can invest in alcohol, so we can talk about that a little bit. But the actual bottle of it, the bottles of wine, that type of thing.
[00:03:25] Speaker B: Again, personal.
[00:03:26] Speaker C: Personal. Exactly. Okay. And then your own life insurance policies. So you can't. So those are really the only three things the IRS says are absolute no's. Everything else, you know, there are some rules around how you can invest, but it's pretty open. And you can a million different things.
[00:03:44] Speaker B: You can. And so you just talked about life insurance policies. I remember when I became the CEO of Preferred Trust and I remember seeing life settlements.
So what's the difference between a life settlement insurance policy? Because it is an insurance policy on somebody is.
[00:04:01] Speaker C: It's on versus somebody else.
[00:04:03] Speaker B: There we go.
[00:04:04] Speaker C: It's on somebody else. It's not on your own life insurance policy. So you're, you're essentially paying for somebody else's life insurance policy. It can be a kind of weird thing because obviously you, you don't get paid out until they pass. So that's a weird concept. I think some of us. I know, I think. You know, but again, it's a long term hold as well. It is.
[00:04:25] Speaker B: And it is an investment.
[00:04:26] Speaker C: It is an investment.
So yeah, you're paying the premiums on the policy and then when the person passes, then, you know, you're, you're getting the money back into your ira.
[00:04:35] Speaker B: Yeah.
[00:04:36] Speaker C: For whatever they were insured for.
[00:04:37] Speaker B: So crazy.
[00:04:38] Speaker C: It is crazy.
[00:04:39] Speaker B: There are a lot of crazy, crazy, crazy things.
[00:04:42] Speaker C: So that's an insurance policy that you can invest in.
[00:04:44] Speaker B: Well, I've heard of people investing in everything from real estate to resources. So, yes, we just stay away from the personal side of things is what I'm hearing. That's the common thread here. No personal collectibles, no personal artifacts, no personal insurance policies. But yes, everything else is Kind of a fair game door.
[00:05:06] Speaker C: Yeah.
[00:05:07] Speaker B: But there are some, there are some stipulations on that as well.
[00:05:10] Speaker C: Yeah.
[00:05:10] Speaker B: So you know, we had talked about, we've talked about grass fed cattle before.
[00:05:14] Speaker C: Yes.
[00:05:14] Speaker B: As an option. You know, some people may be purchasing goats because, I mean, it's a, it's a full blown business.
[00:05:20] Speaker C: Yes.
[00:05:21] Speaker B: To rent goats to clear fields.
[00:05:23] Speaker C: Yeah.
[00:05:23] Speaker B: And a very viable business.
[00:05:25] Speaker C: And goats. And goats.
[00:05:27] Speaker B: Yeah. There's so many other things that come from that.
[00:05:29] Speaker C: Like there's so many things.
[00:05:30] Speaker B: Businesses.
[00:05:32] Speaker C: Yes.
[00:05:32] Speaker B: Could potentially have some tax consequences as well. So. So although we try to get cutesy and unique with all these different investments.
Where does that line draw?
Green, leafy. We could use that as an example. Right. That obviously was a producing business. Correct. So was it kicking off ubit?
[00:05:55] Speaker C: It wasn't. It also depends on how they're investing equity versus debt.
Is the IRA the same sole owner of the investment? Are there multiple? There's, there's a lot of different nuances, but most people are making the investments. Right. They're not buying the actual cattle. The actual.
They are buying into a company that's raising the cattle and then, you know, that's what's creating their investment right there. So it's usually purchasing equity into, into LLCs, into partnerships that have all of these unique businesses behind them. We've had a couple people invest in restaurants in the Chicago area.
Again, the LLC that's surrounding the investment, the restaurant itself, not the operating aspect.
Exactly. So you do have to be careful, I think also you have to, when you're thinking about investing in equity in something, you also have to watch and make sure that you don't have a certain amount of personal ownership in it. Right. Because they look at that as self dealing. So you have to be 49% or less personal funds into an LLC before you can invest with the ira. So. And that includes disqualified people. So you also have to know about disqualified people, which is your spouse, your children, your parents. So you do have to watch that. And that's kind of what we're here for. Right. To guide you through that, guide you through, educate you, provide the do's and don'ts that the IRS, you know, the regulations surrounding IRAs and the investments that you can make.
[00:07:30] Speaker B: Yeah, yeah, Common thread. Again, if you have personal involvement.
[00:07:35] Speaker C: Right. Be careful, be careful, be super careful.
[00:07:38] Speaker B: And to some degree, too much personal involvement also has a disqualifying factor.
[00:07:43] Speaker C: Correct. So it could throw off a red flag. You could be audited. You know, you have to be able to defend against that it's kind of the same concept of, you know, if you have a rental property in your ira, that's fantastic, but you can't live in it and neither can your disqualified people to you. So, you know, we get asked that question a lot, but like how are they going to know? Well, I don't want to take the chance.
If you get audited, they'll know then. Yeah. So yeah, I mean you have to. Obviously with a self directed ira you're taking a lot of time to prepare the due diligence and do your research on the investments. So it's important that you understand the do's and don'ts and mitigating the risk involved. Right. Because you don't have a financial advisor kind of telling you that.
[00:08:27] Speaker B: So can I just call you and say, hey, my brother in law talked to me about X, Y and Z and I was wondering, is this something that I can hold in my ira? Can we just call sure. And ask these questions?
[00:08:43] Speaker C: Yeah, you can. Yeah, we can talk about that.
[00:08:44] Speaker B: Is that giving me advice or is that me saying what's allowable and what's not? Or is that you saying as a custodian. Custodian, we allow or, or don't because we don't have to hold all of these.
[00:08:58] Speaker C: It's kind of a combination of all of that.
[00:09:00] Speaker B: How does that, yeah, how does that really happen? Like person calls, says hey, I want to invest in a goat farm.
[00:09:07] Speaker C: Yeah, this is what, this is what.
[00:09:09] Speaker B: Happens on a daily basis. Right. So they ask these questions, what are you going to ask of me?
[00:09:14] Speaker C: Well, we're probably going to ask to see the documents surrounding the investment. Right. Is it an LLC making the offering?
Is it a debt investment? Is an equity investment? Let's take a look at the actual investment docs. Are you related to any people? You know, we can ask that question.
Basically we're going to tell you if you have a relation of any of these disqualified people, then no, you can't invest in it. So you know, the onus is kind of on the account owner to be able to say, well yes, my spouse, you know, owns part of this or you know, yes, this is my daughter's company or whatever the case may be or yeah, I have personal ownership in it. Actually, you know, we can't tell you yes or no, it's a self directed ira, but we can tell you what the IRS rules and regulations are. We can give you, you know, websites to, you know, go to the IRS.gov here's where you find this exact information. So that you can make the best decision possible for you. There are some things that custodians, you know, Preferred Trust, for instance, we don't allow foreign properties. Foreign. Foreign entities. That's just something from a, you know, a personal standpoint from the company that we don't, we don't allow. But there may be another custodian that'll allow you to buy a property in Singapore. Who knows? Right. So it just depends. But yes, you can call us and we can have that conversation with you. That's what we're there for. To help provide education as far as IRS rules and regulations and to let you know what we do allow to be held in the IRAs that we custody and then, you know, to kind of gear you up to make the best decision for you. Yeah, yeah.
[00:10:52] Speaker B: Because there's really. There's multiple components then. Yeah, there's the IRS rules and regulations, there's the custodian willingness to custody the asset. And I think one thing that we don't talk a whole lot about is, is the custodian actually knowledgeable enough to hold a particular type of asset? And I know that for some, they're like, what. What is she talking about right now?
[00:11:15] Speaker C: Right.
[00:11:15] Speaker B: But, you know, every company, every person, every investor has a different philosophy for how they want to invest, how they want a custody, and what risk they're willing to take for themselves and their company.
[00:11:27] Speaker C: Correct.
[00:11:27] Speaker B: And so I know that digital currency is very mainstream, but it, but it hasn't been for really that long when you really think about it.
[00:11:34] Speaker C: 2017.
[00:11:35] Speaker B: Yeah. So under 10 years, really being allowable or identified as a commodity by the IRS to be allowable, to be invested through an ira.
[00:11:44] Speaker C: Yes.
[00:11:44] Speaker B: And then the government racing around trying to figure out how they regulate this from a decentralized. Which now I would consider to be a centralized.
Because now we're collecting Social Security numbers and all those other things. If you go out and buy it on your own. And there's really no difference inside of an ira. But. But the IRS still has some parameters around it that they're struggling to control.
[00:12:06] Speaker C: Absolutely.
[00:12:07] Speaker B: And so every custodian at this point really has the option of choosing how they hold digital currency.
[00:12:12] Speaker C: Correct.
[00:12:13] Speaker B: And many custodians have chosen not to hold it at all.
[00:12:16] Speaker C: That is correct.
[00:12:17] Speaker B: And so, you know, why have we chosen to hold it the way we have versus others?
[00:12:23] Speaker C: Well, I think what you mentioned earlier, risk to the company. You know, while we obviously provide a service to investors for their retirement accounts and the custody of that, we also are licensed and regulated not only by the irs, but the state that we are licensed in, which is for us is the state of Nevada.
And it becomes that weight of, you know, being able to custody the assets securely while also mitigating our risk to continue to hold our license. You know, we don't want to ever do anything that could potentially jeopardize our trust license, and then we can't custody anything.
[00:12:58] Speaker B: Yes.
[00:12:59] Speaker C: So I think that's, that's what we look at from a standpoint, when we look at investments that we're onboarding is can this be done in a safe and secure manner while mitigating risk not only for our clients, but for us as well? I think we get asked that a lot of times. Clients, sometimes they'll push back and want to know why we do things a certain way or why we won't allow certain things. And truthfully, while, yes, we are here for, for you, we also want to stay in business for a long time. Right. So we're looking at, we're not going to put anything on the table that's going to cause preferred trust to have a high amount of risk. So digital currency was one of those things we really had to look at.
We spent a lot of time researching, we spent a lot of time developing and knowing what we wanted as far as security behind the assets, engaging the right partners with us in that security.
One of the things that we're most proud of is that it's all cold storage and that reduces. And that's actually the most secure form of storing of digital currency, decentralized.
[00:14:08] Speaker B: The whole digital currency to begin with.
[00:14:10] Speaker C: It'S not connected to any hot wallets anywhere where it can be infiltrated or stolen.
And so that risk of that fraud and that type of thing just is taken down, you know, and so for us, yeah, that's the only way we'll. We'll store it. So it may not be as convenient for our clients, but it's certainly a heck of a lot more secure than the hot wallets that are out there today.
[00:14:32] Speaker B: Well, let's talk about convenience with digital currency for just a second. Because it's popular. I mean, it is, let's be honest, it is an absolute, I mean, maybe even second to real estate at this point. It is very popular digital currency, precious metals and real estate. I think Those are the three top investments that I see in IRAs in general, not just here, but in general overall. And so I think it's worth talking about because real estate, I think most individuals are fairly familiar with real Estate self dealing is something you got to be careful of. Right. It's not unique.
[00:15:03] Speaker C: Right.
[00:15:03] Speaker B: But something you have to be careful of.
But precious metals, I think everybody for, you know, capital preservation, they have a little bit of precious metals in their IRA or in their retirement portfolio in general. So I think that's pretty, pretty cut and dry. Yeah, but digital currency really isn't. I mean it has been around long enough to mainstream to that point. There are a couple of huge companies out there that offer, you know, the hot wallet option and yes, you can log into the app and yes, day trade. Yeah, you can do whatever you want inside of there. And yeah, there's conveniences with that, but there's also billions and billions of dollars in losses. And when we looked at it because we have to carry insurance policies.
[00:15:40] Speaker C: Oh yes.
[00:15:40] Speaker B: And I think most people don't realize that what we. Custody has an impact, a financial impact on the company and also a personal impact on the individuals that have to, you know, buy and sell on behalf of the clients. And so yeah, I don't think most custodians really, I don't want to say they don't care, but I don't think they put the emphasis on the risk associated with that for not only the company, but the client.
[00:16:06] Speaker C: But the client. Yeah.
[00:16:07] Speaker B: You know, to some degree that may, that may harm us. But in the other side of things it really, to me it hasn't hamstrung us to the type of digital currency.
[00:16:16] Speaker C: Oh no, not at all.
[00:16:17] Speaker B: If you want to buy a type of digital currency, pick up the phone call. You know, we've heard some crazy ones.
[00:16:24] Speaker C: Oh yeah, we've got a whole list of crazy stuff. I think there's, we have one client, he's got 35 or 40 different types of digital assets in his IRA and good for him. Yeah, exactly. Diversifying. Exactly.
[00:16:35] Speaker B: We're all about that. Like we, we're definitely our supporters of diversification or wouldn't be a self directed IRA custodian. Right. And so the same thing falls with digital currency. It's just, you know, we like to take a more protective nature of how we custody it. Nothing wrong with that. And I think the clients that do come to us, they appreciate that. Yes, they're looking for that, they're looking for something different because they have been affected in other ways with these.
[00:17:03] Speaker C: Yeah.
[00:17:03] Speaker B: Massive undertakings that hackers have, have taken to, to steal digital currency.
[00:17:10] Speaker C: So yes, I spoke with a client last week. He was telling me about his personal experience behind it and one of the reasons why he chose us is because he had already had significant losses to his retirement portfolio before he came to Preferred Trust.
And, you know, he said, I was down to my last $50,000, and I want to make sure that I don't end up in the poorhouse and I don't have to work until I'm, you know, he said, I'm in my 60s now. And he said, and I'm ready to retire. I don't want to work for forever.
And so that's one of the reasons why he was attracted to Preferred Trust is the way we actually custody the digital currency. And now he's been with us a couple years, and now, yeah, he's taken that 50,000 and he's. He's made. He's doing very well. He is doing very well. He's doing very well, exactly. He was able to retire.
[00:18:01] Speaker B: Yeah. I mean, it changed the trajectory of his retirement account, which is good. I mean, you have to seek those things. You have to seek risk mitigation.
[00:18:09] Speaker C: Absolutely.
[00:18:10] Speaker B: Have to seek it. And all custodians are different.
[00:18:14] Speaker C: But one thing he did tell me, which I thought was important, too, is that he does spend a lot of time studying the markets, you know, and he doesn't make sense, snap decisions, which I think sometimes you'll see clients do when the markets drop or, you know, that fear factor coming in. And he said, you know, one of the things he does is he. Does he. You know, he gets as much information as he can. He gets. He stays as educated on the subject as possible so that he can make the most informed decisions. And I think that's important. You know, these alternative investments with all these different lines, you know, these avenues that you can go. It's important to understand the investment, the risk behind it. Stay educated. Agreed.
[00:18:55] Speaker B: All right, so tell me something. You've said no to client calls, who knows what it is? And it doesn't have to be an unusual item, but just in general, what are you saying no to?
[00:19:06] Speaker C: Yeah, well, I mean, we've said no to a couple companies where, you know, the communication with the investment sponsor did not go so well. They weren't very forthcoming with the documents that we needed for the investment.
I remember one, we received the operating agreement, and I've never seen an operating agreement like that before. It just.
There was nothing to it. It just. You could tell.
And we just said that that's just not something we feel comfortable custodying. So, you know, it comes more along the investment documents and making sure and doing research on the company. You know, are they Are they in good standing with the state they're registered in?
You know, so yeah, we have said no in that capacity.
[00:19:50] Speaker B: How do clients react to that?
[00:19:52] Speaker C: You know, it depends. I think sometimes, sometimes it's not so favorable. And we understand, we do understand because it is their retirement. The reason why they have a self directed IRA is because they want to make those decisions. They don't want to be told by somebody else. So I do think it is a sensitive subject. Anytime you're talking about somebody's finances, especially what's going to create the life they want to live in the future, it's hard to have those discussions. But we just don't say no and then walk away from the conversation. We do provide reasons behind it so that they understand better where we're coming from and why.
And so once I think you get to have that conversation with them, you know, they appreciate that honesty behind it and then they, they look elsewhere. And then again, you know, some people will make those decisions. We won't necessarily say no, but we may not think it's, you know, in the best interest. But that's not for us to decide. It's not for us to. We're not the one investing.
[00:20:52] Speaker B: All we can do is point out the oddities.
[00:20:56] Speaker C: Yes, exactly.
[00:20:58] Speaker B: And ultimately they will make the decision.
[00:21:00] Speaker C: Correct.
[00:21:02] Speaker B: What happens if you have an investment sponsor and they haven't performed up to a certain standard and you're starting to hear from a lot of clients about it?
Do you pull back on that or do you keep going or do you say anything to the investors or the clients?
Is that our place to say it?
[00:21:23] Speaker C: Yeah, it's hard. Again, I think it becomes within. You have to determine and mitigate the risk, the risk of not only your client, but the risk of preferred trust, perhaps, you know, being engaged in something or being wrapped up or tied to something that may not be, you know.
[00:21:38] Speaker B: In the best interest of the company.
[00:21:39] Speaker C: Yeah, exactly. And so, you know, I think it depends on the volume of investments that we're doing. If it's a one off investment that we're never going to see again, you know, but if this is an investment sponsor that's been, you know, quite active, you know, we have stopped and said, no, we're not comfortable with this anymore. We're not going to move forward with accepting investments for this company because this is outside our comfort level, you know. And yes, have we had had clients walk away from preferred trust because of it? Yes, but I'd rather protect the other majority investors. Right. Then, you know, the one that is insistent on continuing the investment with them. So, you know, and yet then we've had others that have thanked us and appreciated us for our honesty and, and not wanting to, you know, not wanting to facilitate an investment that, with a company that isn't above par, you know. So yeah, we, we do have the right to say no. Yeah. No shoes, no shirt, no service.
Right. So no operating agreement. No, no articles of organization. No. You know, that type of thing. Yeah, we can definitely and we have said this isn't going to work for us.
[00:22:55] Speaker B: And I know it's not our job to do due diligence on behalf of the investors, but give me an idea. You kind of mentioned it briefly. Making sure that the operating agreement is duly executed. Making sure that the company is in good standing. Making sure. Is there anything outside of those topics or is that kind of where you limited.
[00:23:14] Speaker C: We do some research to see if there's any litigation surrounding the companies offering the investments. Again, like you said, operating agreement article, the corporate documents, making sure. Do they have a taxpayer identification number? You know, that's, that's a big one.
You know, basic things like that. And then we do, we look at kind of the history. How long has the company been around?
You know, what, what are they, what is the investment exactly?
What's the duration of the investment? Have we heard of anything? And so we do look at that. But again, a lot of that is for our own purposes as well, not to put the company in any risk by custodying an investment.
That may not be something that's above board. So yeah, I mean, that's pretty. And then like you said, if they have all these things, then it's up to the client. But, but there are few investments. You mentioned precious metals earlier.
We do look at how much over spot price are these companies charging investors to purchase precious metals.
Unfortunately, that's an industry, the precious metals industry. That's not regulated. We are regulated, but that industry is not, you know, anybody. I mean, I would think like you've. If, unless you're living under a rock, you know, you kind of heard about these stories before, people having their retirement, all of their being, their retirement being swept away from them because they overpaid for, you know, the value of the metals that they now own.
You know, of course everybody there, there's always a markup for everything. But of course, you know, you've got to really look at what the markup is. Is over spot and is it within a doable percentage that you want to.
[00:25:02] Speaker B: Affiliate with them in any way?
[00:25:03] Speaker C: Correct.
[00:25:04] Speaker B: You Know, because of that, you know, this isn't talked about a lot, but you know, engaging with those types of companies, you know, they lead to subpoenas, they lead to, you know, legal action and those sorts of things that are very costly to custodians and you know, the investment sponsors or the dealers or whomever, long gone and you're still dealing with the cleanup of that. So saying no sometimes is, is the best medicine for us because ultimately it saves us a considerable amount of time and money in the long run. But the beauty of having different investment sponsors coming in is it also gives us an opportunity to market ourselves.
You know, we see a new investment and our ears around here, like, yeah, you know, we're like, wait a second, we've never seen this before. You know, as we're looking into it, doing a little due diligence, it also provides us an opportunity to introduce ourselves to these investment sponsors that may have not considered the fact that, hey, there's a different way to raise capital.
So when you stumble across those, what kind of interaction do we have with the company partners or the investment sponsors to say, hey, did you know, what are you doing?
[00:26:21] Speaker C: Well, we definitely reach out because a lot of our investors, you know, I think one of the things, obviously diversification is key. So, you know, a lot of our clients are really good about that. They're really good about not putting all of their eggs in one basket. So they will buy, you know, they'll get involved in real estate investments, they'll get involved in oil and gas, precious metals, digital currency.
So they're always looking for new investments and they're also investing in things that they know. So some of the things they may have tried out in their personal life, then they're reaching out to that same investment sponsor saying, well, I've already made a cash investment, I'd like to try and use my self directed ira. And all of a sudden the investment sponsor is like, whoa, we haven't done that before. So we always make sure if it's coming across our desk for the first time, that we're reaching out to the investment sponsor and having a conversation and seeing.
Do you currently use self directed IRAs in your capital raise?
Is this something that. Have you worked with anyone before?
[00:27:21] Speaker B: Can we open this door?
[00:27:22] Speaker C: Did you know about it? We find a lot of times that they didn't.
This would be a first for them.
And so we start that communication and that conversation and yeah, sometimes it really leads to really great relationships.
[00:27:38] Speaker B: So if I'm looking for something outside of digital Currency, precious metals and real estate that I am like, okay, yeah, I want to try something new. I have a little extra spare change. And I'm thinking, I want something different.
[00:27:54] Speaker C: Yeah.
[00:27:55] Speaker B: Where do I go to find it? Do I come to you?
Can I come to you? Do you have resources for me or do I have to go find it myself?
[00:28:04] Speaker C: Yeah, we do have some resources for our clients. So what we like to see is that an investment sponsor or company partner has had success with our current client base.
And once we build a relationship with that company partner, then we provide in our investment community for our current client base. We provide information about them so that our clients can go out and research them. And so, yes, they can come to our investment community and obviously going out there and I mean, there's millions of different types of investment companies out there and startup companies, and it just depends on what your interest is.
Google is a great tool.
So both. It's a little bit of a combination of things. We learn from our clients all the time, too, which is great.
[00:28:53] Speaker B: All right, well, we've covered a lot.
[00:28:56] Speaker C: We did.
[00:28:57] Speaker B: We've absolutely covered a lot. And I want to say to everybody, if you're looking to invest in anything outside the couple of things that we talked about, call us. So whether it's a green leafy machine, whether it's digital currency, whether it's a goat, goats that are grazing and taking care of the mountainside, cattle, whatever it happens to be, pick up the phone, call us. Because there likely is not an investment that we would not custody.
Give us the opportunity, ask us the question.
We'll be able to answer it pretty quickly for you. And I'm going to wrap up this episode of the Preferred Way. If you have any questions, call us. We'll talk to you soon.
[00:29:38] Speaker A: Thanks for joining us for another episode where retirement savers meet alternative investments. Can't wait for the next episode. To learn more, visit our website at preferredtrustcompany. Com.
