IRA Custodians for a Self Directed IRA
There are as many different types of IRA custodians as there are people. Many IRA custodians are bound as to the kinds of advice they can give and the types of investments they can recommend by restrictive plan documents written by their companies. Some plan documents are more restrictive than others, so you may receive different advice even though the plans are roughly the same.
Then there are custodians that have more opportunity in the types of investments they can offer. These custodians can offer a wide range of advice on how to use funds from your IRA to build wealth. Technically, an IRA custodian is simply a company that houses your IRA for you so you may have little or no contact with your IRA custodian. It is also sometimes the case that your custodian and your advisor do not actually work for the same company.
For example, NAFEP offers service in setting up self-directed IRAs and offers advice to their clients and they custody IRAs through their sister company American Estate & Trust. Don't hesitate to contact either company for more information.
IRA Custodians and Fees
The a couple of things that should most concern you about IRA custodians are their plan documents and their fees. For savvy investors, the best custodian is one that offers a truly self-directed IRA and charges an absolute minimum of fees. In fact, that actually describes the best custodian for any investor who is willing to do his or her research and move forward only when he or she is reasonably sure of success.
Written By Scott Janko, The National Association of Financial and Estate Planning (NAFEP)
For more details on the Self Directed IRA -ICOSM Click Here.