Bill Wittler of Next Generation Services Earns Prestigious Anti-Money Laundering Certification

    ROSELAND, NJ, March 22, 2024 /24-7PressRelease/ -- Bill Wittler, the compliance manager at Next Generation Services, has earned his certification as an anti-money laundering specialist from ACAMS, the Association of Certified Anti-Money Laundering Specialists.

The certification is recognized internationally and participants must already possess a strong foundation in anti-money laundering (AML)-related issues to pass the examination. Wittler, who joined Next Generation in 2013, is also a Certified IRA Services Professional (CISP) and a Self-Directed Industry Professional (SDIP).

ACAMS, which provides training, certifications, conferences, and information about money laundering, established the CAMS designation for professionals who handle AML matters at an array of financial institutions. According to the organization's website, it is the largest international membership organization dedicated to fighting financial crime; its CAMS is recognized worldwide as the gold standard in AML certifications by institutions, governments, and regulators.

"Since becoming a compliance manager at Next Generation, I've wanted to learn more about the AML/BSA side of the business. With the resources I have now through this certification, I can make sure that our compliance program at Next Generation is as strong as it can be."

BSA refers to the Bank Secrecy Act of 1970 (also called the Currency and Foreign Transactions Reporting Act), a U.S. law requiring domestic financial institutions to assist U.S. government agencies in detecting and preventing money laundering. AML is the group of laws, regulations, and procedures that uncover illicit funds disguised as legitimate income. The United Nations has estimated annual money laundering flows total almost 5% of the global GDP, or $800 billion. In the U.S., roughly $300 billion of that is laundered each year.

Money laundering comprises tactics to disguise financial assets in such a way that they can be used for illegal activity without being detected. Monetary proceeds from criminal activity ("dirty" funds) are transformed into "clean" funds that appear to have a legal source. The "laundering" happens when perpetrators attempt to convert the illicitly gained money into real estate, commercial investments, various financial instruments, and other legitimate assets.

Self-directed IRAs (as well as HSAs and ESAs) enable investors to diversify their retirement portfolios by including a broad array of alternative assets within their plans such as real estate, precious metals, private equity funding, royalties, and many more. Next Generation vets all transactions before executing investment instructions on behalf of their clients, who make all their own investment decisions based on assets they already know and understand.

"Bill's CAMS certification gives Next Generation greater resources to protect our clients and the assets over which we have custody," said Jaime Raskulinecz, founder and CEO of the firm, which also provides full account administration services for self-directed retirement plans. "As a strong promoter of professional development, I'm proud of Bill's motivation to seek additional education that enhances his responsibilities in monitoring and vetting transaction compliance."

For more information about self-direction as a retirement wealth-building strategy, visit www.NextGenerationTrust.com.

About Next Generation Services, LLC
Founded on the philosophy that every person should have control over their retirement plans, Next Generation educates consumers and professionals about self-directed retirement plans and nontraditional investments, a strategy at one time reserved only for the very wealthy. Next Generation Services provides comprehensive account administration and transaction support, and its sister company, Next Generation Trust Company, acts as custodian for all accounts. The neutral third-party professionals at Next Generation expertly guide clients and their trusted advisors as part of their white glove, personalized service for a seamless transaction experience from start to finish. For more information, visit www.NextGenerationTrust.com, or contact Next Generation at 888.857.8058 or [email protected].

About self-directed IRAs
Self-directed IRAs allow investors to include investments in many alternative assets—such as real estate, precious metals, private equity funding, and royalties—within their tax-advantaged plans. Account owners may self-direct Traditional and Roth IRAs, SEP and SIMPLE IRAS, education savings accounts, and health savings accounts. Self-directed solo(k) plans are another option for business owners. Self-directed retirement plans are offered by specialty custodians, as most traditional broker-dealers and financial institutions don't allow non-publicly traded investments.

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