When it comes to selecting a Custodian for an IRA that is Self-Directed it’s important to know what to look for. Having a Self-­Directed IRA means you have a different set of needs and your search for a Custodian should reflect that.

Types of Investments:  Consider what traditional and/or alternative investments the Custodian offers. Do they offer real estate and tax liens only? What about physical gold and silver investments? Would you rather stick to more traditional investments such as stocks and bonds?

Client Service:  Is the Custodian responsive to your requests, phone calls, emails right away? Will an account representative be assigned to your IRA? Do they seem
organized, detailed and have a good system in place for taking care of your needs? Does their application process seem straightforward and easy? How is their BBB rating?

Transaction Process:  What sort of process is in place for transactions and the buying and selling of assets? Is the turnaround time conducive to the types of investments and strategies you have in mind? Can the Custodian handle the volume your portfolio demands?

Fees:  Is there a flat-­fee or an asset-­based fee for their services? Are there additional fees (hidden fees for each and every transaction) that could eat up your hard ­earned funds?

Of course taking the next step from a Self-­Directed IRA to creating a Check Book IRA means that you can choose your types of investments rather than let your Custodian be the deciding factor, it means that you can handle your own transactions, using your “check­book” to conduct your investments right then and there; and it means avoiding many of the transaction fees that are often associated with self directed iras. It’s the best of both worlds; control and choice!

For a quick explanation of the Check Book IRA structure watch this video