Qualified Intermediary choice

[Gp G.]

Hi,

How to choose good Qualified Intermediary. 

What are various factors I need to consider to be safe side with lot of money. 

Does Qualified Intermediary supposed to provide all the insurances, also account details where they are putting money?

Do they keep money in FDIC insured accounts right?

I saw some Qualified Intermediary charge more some less and some no charge as well.

I am trying to find good qualified intermediary at reasonable price and same time safe with whole transaction and responds well.

Please advise

[Dave Foster]

@Bradley Buxton , Thanks for the shout out!! @Gp G., ?here are There are a number of good QIs out there including some right here on BP.   but you just want to do your due diligence to find one that best suits you and your future investing goals, Kind of like a Goldilocks method of searching.  Find the QI the fits your style.  Is big enough to have the depth and breadth of experience and can offer economies of scale.  But small enough to be responsive and fit your personality and style of communication.

The think I like best about BP is that you can look through reviews of the Qi from actual BP users.  And you can interface with those reviewers using in mail.  Just go to the QI profile and scroll down to see reviews.  These are even better than Google reviews.  Although those can be valuable also.

As you mentioned, many QIs will use a pooled escrow account necessitating bonding of that account. It is much less common (and not a requirement) that funds be held separate or be FDIC insured. So these are great questions to ask. I've always believed that FDIC-ensured dual signatory accounts where the proceeds cannot move without your authorization are the best. but you do have to ask. .