Self Directed IRA Custodians
A self directed IRA is a superb option for investors that want to save for retirement on their own terms. As their name suggests, these accounts put the investments you make under your direction. You control which assets you purchase, making you truly responsible for your financial future. When you open this type of account, you do so through a self directed IRA custodian. This is an IRS-approved entity, organization, bank credit union, trust, or company that officially performs transactions in your name. Your self directed IRAs custodian will be with you through the process of obtaining, maintaining, and, eventually, liquidating your retirement investments. You will rely on this entity and its representatives during every stage of your retirement investment process, so it is vital that you choose the best self directed IRA custodian for your unique needs and preferences.
To find out more about the ins and outs of self directed precious metals IRA, check out this free guide on the subject. Below, Capital IRA Partners offers our suggestions for choosing a reputable trustee, reviews the best self directed IRA custodians, and expands on the benefits of this type of account to build your retirement funds.
Determining Your Self Directed IRA Custodian
Selecting an appropriate trustee may be the most important decision you make in the process of establishing your account. Especially in the modern market, there are hundreds or even thousands of self directed IRA custodians available, but they are not all created equal. When choosing a self-directed IRA custodian, you should consider the organization’s:
- Track record. One of the best ways to ascertain the competence of a potential self-directed IRA custodian is to check out the company’s history. If they have been largely successful in managing clients’ accounts, they are likely trustworthy. If they are hesitant to discuss their past performance, this could be a bad sign. Furthermore, former legal issues or major losses would be a definite red flag.
- Areas of specialization. Most likely, the main reason you’re pursuing a self directed IRA is that you want to pursue the assets you’re most excited about. For this reason, it makes sense to work with a company that understands the investments you’re interested in and offers services that fit your needs. For example, if you’re passionate about precious metals and want to take advantage of lower prices, a silver IRA custodian may be a good choice.
- Adherence to regulations. The IRS has rigorous requirements for self directed IRAs custodians. Reputable trustees fit these standards to a T, and can prove it with regular audits.
- While the cost of a custodian shouldn’t necessarily be the determining factor in deciding on a trustee, it does factor in. The best self directed IRA custodians charge affordable, appropriate fees that accurately reflect the value of their work. Investors should watch out for exorbitant and conspicuously cheap costs alike.
- Minimum investment requirements. As with fees, you will need to consider if the investment requirements of self directed IRAs custodians suit your situation.
- Level of expertise. The best self directed IRA custodians clearly demonstrate their extensive knowledge of this field. Since they will be performing all transactions related to your account, you want your assets in capable hands.
- Reviews from current and prior clients. When assessing self directed IRA custodians, it can be absolutely invaluable to read online reviews on sites like the Better Business Bureau (BBB). Ideally, you’d speak directly with actual clients regarding their experiences.
To assist you in finding the best self directed IRA custodian for your needs and preferences, we’ve reviewed a few of the top firms below:
|Regal Assets||With nearly 15 years of experience in this field, Burbank, California-based Regal Assets has a sterling reputation in the field of self directed precious metals IRAs. The company has earned a coveted “A+” rating from the BBB. Regal Assets offers a free kit to help investors get started.||Flat amount (first year free)||$10,000|
|Advantage Gold||Advantage Gold is a Los Angeles-based organization that specializes in investor education. The firm is a member of the Industry Council for Tangible Assets. It boasts an A+ from the BBB and a five-star rating on Trustlink. Advantage Gold offers a free guide on self directed IRAs.||Flat amount||$5,000|
|New Direction IRA||This company offers a wide variety of services. They are self directed Roth IRA custodians and also services other types of accounts, such as SEP and SIMPLE IRAs. New Direction IRA also frequently collaborates with Regal Assets.||Flat amount||$25,000|
Precious Metal IRA Custodians
Many investors who create self directed IRAs do so in order to enjoy the advantages of precious metal assets for their retirement funds. If you’re interested in setting up this type of account, the best self directed IRA custodian will understand the intricacies of investing in precious metals.
If you’re interested in a gold IRA, Advantage Gold’s custodians are experts in this field and can help you navigate it. Once you have secured their assistance as trustee for your account, Advantage Gold as your custodian may purchase gold assets from US Money Reserve.
New Direction IRA can serve as a silver IRA custodian for your self directed account. If you have an existing account, they can help you convert it into a precious metals IRA. For example, a current Roth IRA can become backed by silver with their self directed Roth IRA custodians. They can purchase these silver assets from the supplier, Monarch Precious Metals.
A qualified custodian can also help you invest in less well known precious metals investment options, platinum and palladium. Regal Assets’ trustees can offer their expertise in acquiring and storing these materials. Through your custodian, you can obtain platinum and palladium from a company like Dillon Gage Metals.
Self directed IRAs custodians can facilitate retirement funding through a wide array of precious metals.
Protect & Grow Your Retirement
A self directed IRA is an exceptional solution to help you save for your golden years on your terms, building your portfolio on the assets you’re confident in. This type of account is especially powerful when secured with precious metals. Gold, silver, platinum, and palladium can help you protect and grow your retirement because:
- They have been considered valuable materials for millennia. People have been trading these resources for centuries upon centuries. They have a proven history as a stable investment.
- They diversify your account. When it comes to something as important as your retirement, putting all your financial eggs in a single basket can be quite risky. Combined with other, more traditional investment, precious metals add important variety to your retirement account.
- They have an inverse relationship to the swings of the stock market and a volatile economy. Gold, silver, platinum, and palladium are especially powerful when it comes to diversification because of their unique relationship to financial shifts. Historically, when the stock market declines, these assets actually increase in value. This makes them an optimal balancing factor in your account, a defense against the variations your other assets may experience.
- They have inherent, tangible worth. Ultimately, assets like stocks, mutual funds, and even cash are just paper—they derive their value from relatively fragile economic agreements. In contrast, precious metals have physical Regardless of the state of the stock market, they are attractive, durable, versatile materials.
All of the above and more make precious metals an ideal foundation for your self directed IRA account. They offer stability and strength to support your retirement.
Get More Information
Now that you understand what a self directed IRA custodian should offer and how a precious metals account can bolster your retirement, it may be time to get your own. Some of the best self directed IRA custodians include established firms such as New Direction IRA, Advantage Gold, and Regal Assets.