[00:00:00] Speaker A: Most investors don't realize they can use their retirement funds to invest in your deals. This masterclass shows you how to offer that option with confidence and get the results you're looking for. From education to implementation, it's all right here. Sign up now and show your investors a better path.
[00:00:23] Speaker B: You're listening to the Preferred Way, a.
[00:00:25] Speaker A: Retirement podcast brought to you by Preferred.
[00:00:28] Speaker B: Trust Company, the preferred custodian for all alternative investments.
Thanks for joining us for another edition of the Preferred Way, a Preferred Trust Company podcast. Today we are going to be talking with Jordan Tyner. She is our growth architect at Preferred Trust Company. I'm Chris Trembley, director of operations and we're going to be chatting today about the Company Partner Masterclass. So this is going on right now. We're going to talk about all the details so that you can know how to join, what it's about, where you can find it, all the things. So thanks for joining us this morning, Jordan. So first off, tell our viewers out there, tell all the company partners that might be out there watching, what is a masterclass? A Preferred Partner Masterclass.
[00:01:15] Speaker A: So the Preferred Partner Masterclass is essentially all the tools, tips and tricks, action items that investment sponsors need to complete to be onboarded as a company partner for Preferred Trust. But additionally to that, it has so much educational information of how to implement, asking about self directed IRAs to raise more capital, things that have worked in Carrie's experience, who's our CEO and basically the face of the masterclass and why they would want to do it, especially in times like we are right now where cash isn't always readily available and it's not always the best way to raise capital long term.
[00:01:51] Speaker B: Yes. So super important point that Jordan brought up. So if you're a company partner out there and you need to raise capital, you should be listening to this and then you should absolutely jump on the masterclass. So this is about how you can better your company and your money raise by using self directed IRA retirement funds. So there's a whole bunch of untapped capital out there available.
So tell us, is it a series? Are they videos?
[00:02:19] Speaker A: Like so right now it's a nine part series. It is videos, it's templates, it's white papers, basically everything you can possibly need. It does, like I mentioned, it's all about Carrie and her experience. Carrie is our CEO of Preferred Trust, but she also runs an investment sponsor for a real estate investment. So she's gone through this whole experience where she had to flip her whole capital raising platform and options to self directed IRAs when she couldn't find enough cash to basically fund what she needed to fund. So she took her trials, everything that worked for her, the things that didn't work for her, and put it in a digestible video for everyone to be able to watch.
[00:03:00] Speaker B: Yeah, I think that's super important. So you're seeing Jordan and I today. We're kind of behind the scenes with things on the operations side, on the marketing side. And Carrie is our chief executive officer of Preferred Trust Company. She is the face of the company and her experience working both in the self directed IRA space and in the investment space is huge. And how she pairs those together I think makes this a really special masterclass. Is there a cost to do it? Like if the company partners are out there saying, well, how much is this to get involved?
[00:03:33] Speaker A: There's absolutely no cost for any of the investment sponsors that are wanting to go through this process. We just want to basically give you all of the information you need in hopes that you would want to partner with us. But if you don't, just to know what to look for in a custodian, how to make this work. We're not always the right fit for everybody, but we still want to put out educational information so that you're not guessing.
[00:03:57] Speaker B: And so is it guided? Is it self like do? Is there participation from the company partners that are involved in this? Do they work on their own?
[00:04:06] Speaker A: Like so it's a little bit of both. So every episode is released once a week. In every episode there, like I said, there's the education materials, but there are also action items for you to complete. These action items are basically helping you become a company partner with Preferred Trust. So it takes care of all the onboarding. We get all of your investment documents which we save on file and all of that has gone over in all of the videos for every session. So you don't have to guess on what's due for that session. And then if for whatever reason you're not able to complete that session, as long as you're in communication with us, we'll make sure that you're not dropped from the program. But it is also something that you have to consistently be participating in or you will be removed. Because we only want people that are serious about adding this to their capital raising efforts to really be involved.
[00:04:53] Speaker B: That makes complete sense.
So how many videos again, how many sessions are there?
[00:04:58] Speaker A: Right now there are nine. And we will be launching an additional a couple other sessions that are our level up series which just goes in a little bit More depth about other fun things that we could do from marketing side, like being on this podcast, for example, and how this can help with creating relationships and showing not only your clients, our clients, and anybody else who happens to tune in about your company, as well as how it works with Preferred Trust.
[00:05:23] Speaker B: Awesome. Okay, what else? What else?
[00:05:25] Speaker A: Oh, what else? So I think my favorite thing about the masterclass and the feedback I've gotten from a few of our partners that have gone through it is really, it's just eye opening. A lot of people think of IRAs as just like a, you know, if my client asks about it, I'll let them know. But in reality it is an additional revenue stream and it's sticky capital because a lot of times when people are investing with cash, as soon as they get their returns back, they're out.
[00:05:50] Speaker B: Yeah.
[00:05:51] Speaker A: Unless it's like superb investment where they're making a whole bunch of money and it's super short term, they're going to go and spend it on a vacation or buy something expensive. Whatever the case may be with IRA funds, if they're not taking distributions and they're not of retirement age, that money is going back into their IRA and it's either going to sit in cash, they're going to find another investment, or they're going to invest with you guys again.
[00:06:12] Speaker B: Yeah, I think that's a really great point. You know, that captured capital that's in a retirement account because you can't, you just can't. You know, I mean, you could take the money out of your retirement account, but you know, you're going to get heavily taxed. And if you're not of retirement age, you're also going to face penalty. And so, you know, the whole purpose of having a retirement account is to keep it invested until you reach those golden years where you want to take it out. And so, yeah, that captured capital, they can't just take it and walk away and take a Hawaiian vacation. That's not, that's not part of a legitimate investment inside of their ira. So, yeah, it's, you know, that money that's going to be reinvested again and again. And I think, you know, from Kerry's standpoint, her experience is of that on the investment sponsor side is watching that capital being, you know, redeployed, that investors continue and stay on with them for months and years to come down the line. Great for the client as well as for the company partner. You're doing a service for both sides.
[00:07:10] Speaker A: The other thing we talk about in the Masterclass, as Well, is the reporting that we provide to our partners. So once we see leads or clients coming through the pipeline, we give you guys access to an online portal where you can go in and Carrie likes to call it scraping the bucket. But basically you can see when your clients make a contribution to their account, when they have an investment payoff. Basically, if you're looking to raise more capital and you don't know where to grab it from, you've already called all your leads, you've called your current clients to see if they wanted to put in more money. You can go into this report, see who has cash in their IRA that meets your minimum investment requirement, reach out to those people and say, you know what? I see you have this much money at Preferred Trust. Do you want to get in on this investment opportunity?
[00:07:52] Speaker B: And a caveat to that though, we have to say they do have to make your company sponsor an interested party on their account. So we just don't give out anybody's information out there. Good to note. So, but if they're investing with you, nine times out of ten they will allow that because they've had, they're building a relationship with you as well. A lot of them have already invested with cash with you. So this is another angle, a better way, you know, to do it as well. I think I. There was something interesting that you said earlier about the fact that, you know, a lot of times you'll talk to investment sponsors and they will say, yeah, we, we do, we let clients invest with their self directed ira, but we just allow them to pick, you know, whatever custodian or self directed company that they're, they're currently working with or whichever one they find there, there can be a little bit of detriment to that, I think sometimes because if you get to the point where it' that happens a lot and you're using all these different companies. We all kind of work a little bit differently. We all have a different process to things and, and you're having to keep track of like, you know, 10 different processes for all these different companies. It's nice to partner with a company that keeps it very streamlined and you've got everything at your fingertips all in one place. I think the other thing is not.
[00:09:05] Speaker A: All custodians are made the same.
In Kerry's experience, which she talks about in that particular session of the masterclass, is that she started out working with a bunch of different custodians and she found that they weren't posting interest payments. It was taking them days upon days to send Money. Once the client had signed the direction of investment form. So basically Preferred Trust was there and she made it to where we send out funds next business day. Once client completes a form the same or next day, the interest payments are received, they're posted to the client's account, and they're able to see them next business day on their portal. So we understand that one every day means more or less money to your client. If it's taking days upon days, sometimes weeks, to get things sent to you guys. As far as funds goes, your clients are missing out on interest.
[00:09:53] Speaker B: Absolutely. And they're missing out on capital. You know, I mean, so, yeah, the longer that it takes to get money moved, that you always say time is money.
You know, your investor's missing out and you're missing out. So efficiency is something that we've worked really hard on throughout the years, specifically for our company partners.
That's really why Preferred Trust came into business. And that's one of the things I think she talks about a little bit too, is, is how did we develop a custodian? Like, how did. How did we know this is what we wanted to do? And it really came from the fact that the owners were real estate investors themselves and they understood these deadlines that other IRA companies weren't meeting. And so, you know, we. That's one thing that we really pride ourselves in from an operational standpoint. And. Yeah, so.
[00:10:40] Speaker A: So I know we kind of talked about how I spoke to a few of our partners that are going through the Masterclass. I know your staff also was required to join the Masterclass to see what's in there. Have you gotten any feedback from them about it?
[00:10:52] Speaker B: Yeah, I think the one thing that they honed in on is the fact that they do play a huge role themselves being on the operations team, because it's their work behind. When your investor finally signs up with us or reaches out to us that they're interested in opening an account, it's really what they're doing behind it. They're very conscious of their role and what they play in that company partnership and how we are different and set apart from a lot of other companies. So they enjoyed going through the entire. Which by the way, I think is super important. Anything that we're putting out there that we're asking people to watch and be involved in, I'm also asking my staff to watch and be involved in. Super important. They need to be aware of what we're offering out there. They need to be aware. Know what my expectations are. Our expectations of a Company are because the company partner is going to have those expectations. You know, you don't want to be a company working with a custodian that's dragging their feet, and that always has excuses or that, you know, can't fund something fast or has lost the client information or, you know, your client's been sitting on the phone for four hours waiting for someone to pick it up. That's, you know, so they. They really. Yeah, they understand the gravity of what we're doing and how important it is. So.
[00:12:05] Speaker A: So I know we've talked also a lot about what Carrie's part in the masterclasses, but I think we should also tell them what our parts are. Yeah. So do you want to start with how you are incorporated into the masterclass, what you do behind the scenes?
[00:12:17] Speaker B: Yeah. So one of my roles, Director of operations and compliance officer, is to really vet out the investment sponsors to look at the investments that the company is offering, make sure that they fall within IRS rules and regulations, make sure that the company that's making these offerings is in good standing, and kind of do our due diligence so that we know that when we have clients that are interested in investing that it's. The best foot forward is being, you know, best forward. Putting my best foot forward. Right. So we want to make sure that our clients are working with the best possible companies. They have to select these investments, but the due diligence behind it is really important. So that's really my role in the initial contact with the company partner. And then once the company partner is onboarded, my team works to then take the investors that you're referring and get their accounts open and roll their funds over from wherever they currently are sitting and get the investment funded. So, yeah, and answer any questions that your clients may have along the way. Right. This is probably new to a lot of investors. They're more familiar with, I think, you know, the standard stocks, bonds, mutual funds alternatives may not be something that they're familiar with within a retirement account. They may not even know available to them. I know no one's ever talked to them about that before. So that's our role, is to make them feel as comfortable as possible, answer any questions.
And then on the other side of things, Jordan is working directly with the company partners on the marketing end. So tell us about that.
[00:13:59] Speaker A: So as far as the company partners go, from a partnership standpoint, I am essentially the liaison between the partners and preferred trust. So essentially you guys and Chris, for the most part, and what I do is I'm able To answer any questions you have about the partnership, I'm the one to help you get all of your documents in order and essentially develop the partnership. And then on the marketing side, I help do podcasts, webinars, send you guys any collateral you may need. If there's anything we don't currently have that you think would be super beneficial, we help create that as well. And basically just making a consistent partnership. We don't want the one offs where we do a webinar with you or a podcast and then it's gone and nothing happens. We want to make it to where the partners we're putting out on our platform are ones that want to work with us, that our clients can trust, that we trust, and that really want to make this partnership work.
[00:14:55] Speaker B: And last, yeah, absolutely. It's kind of a two way street too.
So, yeah, the webinars and podcasts are important to get out not only to our client base, but to your investor base. It really opens everything up a little bit more, I think, and being more in being consistent about those things too, on an ongoing basis. Really important.
Yeah.
[00:15:18] Speaker A: So I know we've been trying to get this company partnership masterclass, even though masterclass is relatively new, off the ground for a very, very long time. What do you think has been our major struggle or pain point through this whole process? And how do you think going forward with this masterclass will help it or anything you want to put out there about it?
[00:15:38] Speaker B: In general, I think it's, you know, it's super interesting. When we talk to company partners, investment sponsors who have worked with other custodians, it's really hard to make a change. I think sometimes I think, you know, kind of out of sight, out of mind. When you have, you know, a custodian, they may not be giving the best customer service to your investors. They're doing an okay job. You're, you're getting funds eventually. Change is hard. I think that's the one thing I think throughout the years we've kind of recognized is that it is super hard. It's hard to decide you're going to move from one custodian to another to rock the boat, to think, what if it doesn't end up being what I thought it was? What if this is not a good relationship? But there's no risk, there's no reward without risk. You have to be able to take that risk.
I think Preferred Trust company, we've shown over the years just how strong we are. We're not interested in being this big box company where your Investors just become another cog in the wheel, you know, and. And you don't get the attention or the services you deserve. And I think until you've actually had the chance to experience us and go through that, you won't really know. So I guess that's a challenge to everybody out there. Considering doing the masterclass is, hey, why don't you yourself open an account and see how it goes? You know, if you don't experience it yourself, you don't necessarily want to refer anybody else. Right. I mean, that's kind of how everything is. I mean, we don't want to go to a restaurant if you don't know somebody else has had a good experience there. You don't want to use a certain product if you don't know, you know, or you shy away from bad reviews and things. So I think giving that opportunity.
[00:17:19] Speaker A: I'm actually glad you brought up reviews, because that's actually one of our sessions in the masterclass. Carrie talks about how reviews work and about, like you said, everyone checks reviews, whether it's a restaurant, a company they're going to work with. Whatever the case, we all check reviews.
[00:17:33] Speaker B: Yep.
[00:17:33] Speaker A: But what she did point out is you can tell when one reviews have been bought or if two, they're doing some sort of push because they received a negative review. So they want 10 or 15 good reviews.
[00:17:43] Speaker B: You'll see nothing for like six months, and then all of a sudden you'll see like a whole bunch of reviews. You're like, where'd those come from?
[00:17:51] Speaker A: Yeah. So the thing that she also mentions is look down a little bit further. Look at their general score of what their review rating is. Because if. If you go scroll down a little bit, you're going to see the negative reviews. And a lot of times those negative reviews are very, very important. I mean, you can tell when a review is just a client being nasty or being upset for whatever reason that doesn't have to do with the business. And you can tell when they're legitimate concerns. Concerns if it's the same negative review over and over again by different people. So she tells you guys how to look at those, especially within custodians, and how to kind of see which ones are the better ones and which ones don't have the greatest customer service. Because at the end of the day, that's what matters to your clients is the customer service and the processing.
[00:18:35] Speaker B: Absolutely. And I think the regulation behind these different companies, you know, not all SDIRA companies are created equal. And she does spend some time going through the Differences and why it's important. So if you're out there and you're listening, jump on the masterclass because just for that alone is, I guarantee you may not know the difference out there between the different companies. And there's easy ways to tell and it can, it can matter. It make a huge difference, not only for you, but for your investors. I think that's the one thing when we're talking to company partners that we hear a lot of. You know, they just want their investors taken care of. They want to. But being taken care of means more than just customer service. It means a level of compliance with what is expected from not only the investment company, but from the company holding the IRAs. So that particular session is so informative. So definitely something to hone in on when you sign up.
[00:19:38] Speaker A: So what do you think is the biggest struggle for companies that have never used IRA for their capital raising strategy?
[00:19:43] Speaker B: Oh, I think definitely to ask, like afraid to talk about it. You know, I think obviously finances, anybody's finances is a touchy subject, but today's retirement, I think talking about retirement and maybe also not really knowing what if you're not, if the company sponsor is not necessarily used to talking about retirement dollars, that's not something they're versed in. And Carrie gives some great tips in the first few sessions about how to, how to go out and do that. You don't have to be the experts. That's what we. But I think that's one of the biggest, I think, roadblocks to a company never using it. One, they probably don't, maybe don't even realize that their type of investment is considered an alternative and can be held in a self directed ira.
And two, they just don't know how to, how to talk to the investor about it. But not sure which companies are custodian for self directed versus, you know, your Charles Schwab's and TD Ameritrades that can't hold an alternative investment and just kind of of figuring the lay of the land out a little bit.
[00:20:47] Speaker A: The other thing too with those big box custodians is a lot of them are now having alternative arms.
[00:20:52] Speaker B: Yes.
[00:20:53] Speaker A: Yeah. And that's another thing. They're also buying out a lot of the self directed IRA custodians so that they can kind of monopolize the industry, I'm assuming.
[00:21:02] Speaker B: And they have other products they're offering that are not related necessarily to a self directed ira. That's just like you said, an arm. It's a smaller arm. That's not really where their focus is necessarily. But they just thought, well, why not add another, you know, another place makes them more money. Exactly. So I, I think, you know, that's something that's different about Preferred Trust is we are more of your boutique SDRA company. And we are, you know, we are very unique in that niche. There's. There's not a lot of us out there anymore. And I think sometimes people think that might be a bad thing, but it's actually a good thing. We know where, you know, we know where to focus our efforts. It's only self directed IRAs. We're not worried about anything else. And so, you know, the higher level of customer service that we can give, because we are focused on one product.
[00:21:53] Speaker A: Yeah. And we're not interested in selling.
[00:21:55] Speaker B: Yeah. And we're not interested in selling. Yeah, yeah. Don't get any ideas. We are not, you know, preferred dress is not to be sold. Yeah. We get offers, but no, thank you.
[00:22:03] Speaker A: I like that you mentioned boutique as well. Because we're small but mighty. Yes, 100% put a lot of money into technology. We have a lot of cross training.
[00:22:12] Speaker B: A lot. Yeah. I think that's one of the things makes Carrie very unique, is her passion and thirst for making things more efficient and using the technology that's out there and really breaking it down and making it across the board, not only for our clients, so that our clients have ease of what they're doing, but also for our staff. The more support we can provide our staff, the better customer service they can provide. So. Yeah, we've worked really hard over the years to develop software and programs to bring not only to the company partner, but to the investors alike. Yeah.
[00:22:52] Speaker A: And even our own staff.
[00:22:53] Speaker B: Yeah, yeah, absolutely. It just helps them tremendously to be able to do their job. You know, I saw an advertisement the other day, something about a girl went to a new job or whatever, and they gave her like a process manual, but it really wasn't. It was like one piece of paper with handwritten notes on it. She's like, what is this? Like, yeah, those days are gone. You know, speed, efficiency, accurateness, all that. You know, we're looking to do that. So whatever we can do to help our employees, to help our clients is number one, top of our list. So. Yeah. Anything else you want to mention before, before we say bye for today, before we close things out?
[00:23:34] Speaker A: Yeah, the only thing I wanted to mention is if you do have any reservations about joining the masterclass, reach out to us. Talk to me directly. I'll answer any questions. You might have. If you feel like you don't want to wait nine weeks to get the course completed, you can let me know that as well and I'll give you our all access integration.
[00:23:51] Speaker B: Ooh, there's that option.
[00:23:52] Speaker A: There is that option. We were taking that option and really only offering it to our current partners and our internal staff. But if you really are gung ho and want to get this done and really want to add this strategy, I'm not going to say no to letting you go through.
[00:24:06] Speaker B: Yeah, if you've got a project that you're trying to fund. Yeah, yeah, we're ready.
[00:24:10] Speaker A: Yeah. As long as you're ready to get us the documents that we need and abide by those action items, then I'm willing to give it an all in all access for you guys.
[00:24:20] Speaker B: That's awesome.
[00:24:21] Speaker A: Yeah. And then also our registration link will probably be in the bio or the description of this podcast so you can also register there and get your login information.
[00:24:30] Speaker B: Yeah, absolutely. Well, thanks, Jordan.
[00:24:32] Speaker A: Thank you so much.
[00:24:32] Speaker B: Glad we had a conversation today. And for all of you out there watching, if you're an investor investing in a company, reach out to them and tell them about our masterclass. Get them engaged. And if you're a company partner, like Jordan said, give us a call if you have any questions, reach out to us and get signed up and then you can like and share as well. Thanks for joining us on the Preferred Way.
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