In an industry long dominated by paperwork and procedural friction, one family-owned company saw the opportunity to lead. IRA Services, a California-based custodial trust company run by the Blue-Hitchens family (notorious journalist Peter Hitchens), managed self-directed retirement accounts for alternative investments like real estate and private equity. But despite handling complex assets, the firm still relied on outdated, paper-based systems.
What followed was a bold transformation, one that turned a traditional back-office operation into a scalable, digital-first investment platform. This is a case study in innovation, strategy, and successful exit.
The Challenge: Paper-Based Processes in a Digital Age
The legacy IRA investing process was inefficient and costly. Opening an account, submitting documents, and funding investments could take days—or even weeks—due to reliance on manual forms, phone calls, and labor-intensive back-office workflows. These delays weren’t just frustrating—they were expensive for both the company and its clients.
To modernize and scale the business, the Blue-Hitchens family brought in Todd Yancey, a former IBM Vice President. Yancey saw the opportunity to transform the company’s core infrastructure by delivering a modern, technology-driven experience for self-directed investors and institutional partners alike.
The Strategy: Integrate Process and Platform
Over over two years, IRA Services worked with cross-functional teams, spanning strategy, UX design, and development, to reimagine the business from the ground up. The focus was clear: create a streamlined, user-friendly interface that supported both individual investors and institutional partners, while enabling compliance and scalability.
Key initiatives included:
- User-Friendly Interface: A new portal made it simple for customers to open accounts, manage investments, and access support—24/7.
- Scalable Web Applications: The new infrastructure supported mobile-friendly access, investment tracking, and compliance workflows.
- Merchant White-Labeling: Institutional partners could white-label the platform, offering custodial and transaction services under their own brands.
- Integrated Digital Strategy: Communications, messaging, and product launches were unified under one scalable brand and business development plan.
The Results: $11 Billion in Assets and a Strategic Acquisition
The impact of this transformation was dramatic:
- $11 billion in assets under custody initiated through the new platform
- 140,000+ new accounts opened
- 100% teamwork execution across strategic, technical, and business development teams
- Full digital transition from paper to platform in under 24 months
The innovation didn’t just improve client experience, it unlocked institutional growth and positioned the company for acquisition.
The Exit: A Platform Built for the Future
With the platform live and scaling, the company was acquired by Forge Global (NYSE: FRGE), a leading private securities marketplace. The deal validated what Yancey had built: a modern custodial engine ready to power the next era of self-directed, digital asset investing.
Lessons in Innovation
This transformation offers key insights for founders, fintech operators, and legacy businesses alike:
- Process is product – Don’t just digitize forms; reimagine the experience end-to-end.
- Build for scale – A solid infrastructure unlocks institutional partnerships and white-label revenue.
- Think beyond the back-office – Innovation touches design, messaging, operations, and business development.
What began as a family-run firm serving a niche market became a digital platform built for scale and exit. And it all started with one question: What if this didn’t need to be done on paper?
