Self Directed IRA Custodians
Self-directed Individual Retirement Accounts (IRAs) allow account holders to invest in alternative assets like real estate, precious metals, private equity, startups and promissory notes with different regulations than stocks and mutual funds.
Custodians must be well informed of these rules to help their customers avoid prohibited transactions. Furthermore, it’s vital that customers are satisfied with customer service, servicing times and communication styles offered by each company they deal with.
1. Entrust Group
The Entrust Group has long been recognized as an authority on self directed IRA custodian services. Their reputation rests upon responsiveness, professionalism, and being able to safely store large sums of money. Clients of The Entrust Group also praise them for providing guidance when helping manage their IRA accounts.
Custody and administration services for IRAs and ERISA-qualified plans, such as self-directed IRAs. In addition, other accounts like SEP IRAs for small business owners and SIMPLE IRAs for employees of companies with 100 or less employees are offered by them.
The Entrust Group is an esteemed self directed IRA administrator with multiple offices nationwide. Their reputation rests upon making educational information readily available to investors as well as offering various investment options like real estate and precious metals. Their fees are competitive with similar self directed IRA custodians; however they have higher account set up fees than some competitors.
2. Madison Trust
Madison Trust Company provides self-directed investors the ability to invest in alternative assets like physical real estate, precious metals, private equity and promissory notes via an IRA custodian account. Their competitive fees and rates ensure exceptional customer service experience.
Madison Trust stands out from other IRA custodians with its team of knowledgeable professionals available to answer questions and offer guidance, making them an excellent option for investors new to self-directed investing.
However, customers have complained about long wait times when trying to make transactions with their IRAs. Madison’s fee structure can also be confusing for new investors; for example, they charge registration fees, annual account fees, transaction fees – but all still significantly less than industry average. Furthermore, Madison provides a convenient process for creating and maintaining LLCs for IRAs which saves both time and money.
3. IRA Financial
IRA Financial is an established custodian who provides investors with comprehensive services. Unlike some other custodians, they do not charge to open accounts or for storage services and also offer competitive annual fees and transaction costs.
Self-directed IRAs (SDIRAs), unlike traditional IRAs, allow investors to invest in riskier assets like precious metals, private placement securities, promissory notes, real estate and tax liens. But due to these increased risks associated with these assets, it’s crucial that information in your IRA account be accurate – this might include getting professional valuation or conducting tax assessments of property. Having a trusted third party verify an investment promotion or company can also help protect you – some fraudulent firms misrepresent their duties and responsibilities as IRA custodians to dupe investors into investing.
4. Rocket Dollar
Rocket Dollar was among the first consumer-oriented platforms to popularize self-directed IRAs, providing services that help streamline investment into alternative assets legally and effortlessly.
Rocket Dollar makes investing easy for individuals who prefer alternative assets like real estate, cryptocurrency, precious metals, peer-to-peer loans or startup equity IRAs or solo 401(ks. Additionally, they allow their clients to bring in their own deal (BYOD).
Rocket Dollar offers more than just services; they also have an extensive library of articles, webinars and podcasts covering investing in retirement accounts. Their email support line provides dedicated phone support if you purchase their Gold plan.