Next Generation Trust Services Announces Changes and Growth With Launch of Next Generation Trust Company, a Custodian for Self-Directed Retirement Plans, Effective July 1, 2017
Published on June 28, 2017
Administrator of Self-Directed Retirement Plans Will Undergo Name Change to Next Generation Services; Company Will Service the New Custodian of these Plans, Next Generation Trust Company
June 28, 2017 (Newswire.com) – Effective July 1, 2017, Next Generation Trust Services, a full-service administrator of self-directed retirement plans, will become Next Generation Services. In tandem with this change, CEO Jaime Raskulinecz has announced the launch of its sister firm, Next Generation Trust Company, a licensed, chartered trust company which will be the new custodian for all accounts. Next Generation Services will be the servicing company and administration arm for the self-directed accounts whose assets will be held by Next Generation Trust Company.
“The opening of Next Generation Trust Company is the culmination of many years of planning and preparation. It is the fulfillment of my long-term vision for Next Generation to become fully self-sufficient in terms of both account administration and custodianship for our clients’ assets,” said Raskulinecz. The trust company is chartered in South Dakota and is regulated and licensed by the South Dakota Banking Commission.
South Dakota’s banking commission is one of the few in the country that truly understands the particulars of the self-directed retirement field,” explained Raskulinecz.
Clients will continue to enjoy the high level of customer service upon which Next Generation has built its reputation since its founding in 2004, with the same staff and same ownership; the benefit is that there is no longer an unrelated custodian responsible for clients’ assets. Next Generation will continue to use third-party financial institutions to physically hold client undirected cash, as the trust company is designated to be a non-depository trust company.
As a third-party administrator of self-directed retirement plans, Next Generation Services will continue to handle all the back office administration, record keeping, mandatory reporting, and transaction support. Accounts will now be named with Next Generation Trust Company as the custodian and holder of assets, for benefit of the individual account.
“With both companies under the Next Generation name, we will be fully contained in terms of the financial services we offer,” said Raskulinecz. “We will control both companies, providing a more seamless transaction process for our clients.” Raskulinecz said that her company did not have to bring in any outside investors in order to form the trust company. “We are proud that we kept it all ‘in the family’ so that our clients will only deal with the same people they’ve trusted all along.”
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