Cleveland, OH and Wilmington, DE — Equity Institutional relies on Delaware Depository to safeguard and securely ship precious metals assets held in its customers’ individual retirement accounts (IRAs). That relationship continues as the companies move toward an exciting new option for customers.
In February 2022, Equity Institutional will extend its precious metals storage options to include Delaware Depository’s new Silver State facility in Boulder City, NV. Equity Institutional customers can store their precious metals IRA assets in this state-of-the-art facility that fully accommodates gold, silver, platinum, and palladium coins and bars.
Delaware Depository chose this location because Nevada is a business and regulatory friendly state and Boulder City is next to a major metropolitan distribution hub. This Nevada facility provides the benefit of geographic diversification in having physical bullion holdings stored on both sides of the United States in Delaware and Nevada.
This location is a full-service facility just like Delaware Depository’s east coast headquarters. It accommodates both segregated and commingled storage and handles all metal movements including incoming and outgoing packages, transfers, and armored carriers.
“The building is heavily fortified with multiple layers of physical barriers and utilizes the newest industry leading surveillance technologies and monitoring. These layers of security are modeled after the same ‘defense in depth’ internal controls that have continuously kept bullion secure at Delaware Depository’s other safekeeping facilities for over two decades. Beyond the internal controls, bullion held in the Nevada facility will also be insured against theft, loss, or damage under Delaware Depository’s $1 billion ‘all risk’ insurance policy,” said Jon Potts, Managing Director of Delaware Depository.
Delaware Depository is a limited purpose trust company and will be registered with the State of Nevada Financial Institutions Division to satisfy the Internal Revenue Code provision requiring a financial institution to maintain “physical possession” of bullion while it is held in an IRA. Equity Institutional customers who store with Delaware Depository are protected against the potential risk of early distribution penalties in storing IRA assets at a qualified “bank” facility.
“We’ve listened to our customers and are committed to providing exceptional service. Our customers have embraced our initial west coast expansion four years ago and this new facility will bring them even more service capabilities. The new facility is much larger than our existing west coast operation and provides the benefits of geographical diversification, better distribution, and the latest in high-tech security,” said Mr. Potts.
“The addition of a west-coast, full-service precious metals storage facility provides our clients with a convenient option for storing their assets, on top of the safety and security we rely on from Delaware Depository,” said George Sullivan, CEO of Equity Trust Company, the custodian behind Equity Institutional. “We’re pleased to offer another world-class storage option for this asset type as its popularity surges.”
About Delaware Depository
Delaware Depository provides precious metals safekeeping and shipping services for IRA custodians and other institutional entities. Delaware Depository is a limited purpose trust company supervised and examined by the State of Delaware, Office of the State Bank Commissioner. It is an approved depository of CME Group (COMEX and NYMEX Divisions) for the storage of gold, silver, platinum and palladium and ICE Futures US for the storage of gold and silver. Delaware Depository provides industry leading experience, physical security, audited internal controls, and geographic diversification of bullion holdings. Delaware Depository maintains “all-risk” insurance coverage to protect against theft, loss, or damage to precious metals bullion held in its custody. For more information, visit delawaredepository.com.
About Equity Institutional
Equity Institutional services institutional clients of Equity Trust Company. Equity Trust Company is a financial services company that enables individual investors and financial professionals to diversify investment portfolios using alternative asset classes such as real estate, tax liens, private equity, cryptocurrency, and precious metals. Equity Trust Company evolved from a predecessor brokerage firm founded in 1974, to a directed custodian today with over 45 years of experience and more than $34 billion in assets (as of 8/31/21). For more information, visit www.trustetc.com
Media Contact:
Amy Henricks
Product Manager, Metals Channel – Equity Institutional
a.henricks@trustetc.com
800 955 3434 x6044
