LendingClub taps Alto as prefered partner for IRAs

LendingClub taps Alto as prefered partner for IRAs

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Alto Solutions, Inc. (Alto), the next-generation self-directed IRA platform making it easier for individuals to access and invest in alternative assets using their retirement funds, today announced it was selected by LendingClub Corporation (NYSE: LC) as the new preferred IRA custodian for LendingClub IRA account holders.

Through Alto, LendingClub’s 13,000 IRA investors can gain access to new opportunities to diversify their retirement accounts beyond LendingClub Notes. Following a rigorous selection process, Alto was chosen for its best-in-class online user experience, transparent pricing model, great client service, and relationships and integrations with some of the most recognized alternative investment platforms.

Current LendingClub IRA account holders can click here to reserve their new AltoIRA account.

“Since launching the platform in 2018, Alto has been focused on building technology to transform the way individuals identify and access unique alternative investment opportunities and then use their tax-advantaged retirement accounts to invest. Essentially, the same things that initially attracted investors to LendingClub’s investment platform,” said Eric Satz, founder and CEO of Alto. “Our entire team couldn’t be more excited about this opportunity to welcome LendingClub IRA investors to Alto.”

As LendingClub’s preferred IRA custodian, Alto will offer LendingClub investors low-cost, online access to new alternative investment options, with the same high level of service they enjoyed with LendingClub. Alto’s paper-free platform will make it easy for them to explore additional investment options like real estate, cryptocurrency, and startups and then invest with no hidden fees or commissions—providing investors a way to easily and seamlessly put cash to work as their remaining LendingClub Notes continue to mature and cash balances rise in their IRA.

Alto’s platform includes an expansive network of investment partners—AngelList, Coinbase, Masterworks, and Republic, among others—providing both accredited and non-accredited investors with the ability to use their retirement funds in a way that up until now has only been available to the wealthiest investors. 

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