Due to the rising threat of industry-wide fraud, Advanta IRA has put additional verification procedures into place to protect your account better. From now on, when we need to verify your identity and transaction details, we will make outbound calls to your phone number(s) on file with us. These calls must be outbound, and the number(s) called are those that are on file with Advanta IRA. If you don’t answer the call, we will leave a voicemail asking you to call us back during business hours. When you call back, we will tell you that, “per our policy and procedures, we will hang up and call you right back on the number on file with us.”
We will make these verification calls for the following transactions:
- All investments/purchases – this includes a call to you, the client, and potentially a call to the investment provider and/or funds receiver to verify funding instructions.
- All sales – we will call you to confirm sales, payoffs, or return of investments.
- Cash and in-kind distributions – we will call you to confirm the details and verify funding instructions.
- Expenses/payables – we will call you for any non-recurring or regular invoices. We do not have to call for real estate taxes, utilities, HOA, and other regular monthly or annual payments.
Please note: Expenses, payables, and cash distributions conducted through our Client Portal will not require a verification call unless we need to verify wire or ACH funding instructions for new vendors or if the instructions differ from past transactions (to ensure accurate information).
Our Client Portal is a great tool that allows you to pay expenses related to your IRA-owned asset(s), request cash distributions, check your account balance, view your holdings and past transactions, change your contact information, and more. When registering for the Client Portal, you will be prompted to input a 4-digit secret pin which will be used to verify your identity when we call you.
Thank you for your patience and understanding as we put in place these measures to protect your Advanta IRA accounts while continuing to deliver unparalleled customer service.
If you have any questions or concerns, please contact your account manager at 800.425.0653 or send an email to [email protected].
