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Choosing a Self-Directed IRA Provider

Although it’s possible to start an IRA at almost each financial institution, only a few have the knowledge and regulatory authority. A good custodian can assist you through the challenges of self-directed IRA ownership and shield you from prohibited transactions, scams and other pitfalls.

Here are tips to help you choose a good self-directed IRA provider:

Types of Providers

Self-directed IRA providers can be any of the three: Administrators, whose task is to manage the required papers for starting IRAs; Facilitators, who generally inform people about self-directed IRAs as well as help structure single member LLCs; or Custodians (these are typically highly regulated banks, credit unions or non-depository banks) that have been granted custodial powers over IRA assets.

Better Business Bureau Accreditation

Standards to be met for BBB accreditation include establishing trust, truth in advertising, responsiveness, and respecting customer privacy, among many others. Unaccredited providers may fail to meet these standards.It’s surely safer to choose provider that is BBB-approved.

Size, Scale and Expertise

A provider that has less assets in custody or less unique investments that pass IRA eligibility could have modest capabilities.Business size speaks volumes about a provider’s level of experience and expertise, and you have to be sure the one you pick is able to cater to your unique alternative asset investing requirements.


Providers may have certain areas of specialty, like private placements, LLPs, LLCs, exchange-traded assets, and more. Have your potential provider explain their level of experience in the specific types of assets you might have for your IRA. Specialists are always updated on all rules and regulations that could impact your self-directed IRA investments.

Geographic Reach

Smaller, regional providers are usually focused on small geographic areas, which means so if you’re somewhere else, you could be out of their strategic reach and Will be unable to access some of their services.Choose a provider that can service your area – or future area, just in case.

Information Protection

In this generation of data breaches and identity theft, it’s crucial that your provider is serious about keeping your personal and financial information private and secure.They have to be able to tell you in detail the steps they perform to make this possible.

Service Model

Finally, utilizing qualified IRA funds to invest in alternative assets is often a document-intensive process. When you have to set up and maintain a self-directed IRA with a new provider, it can be such a complicated and time-consuming task, unless you’ve got a client service team that’s eager to help you.Thus, select a potential provider that can give you this.

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