Originally posted by @Doreen Chaisson:
There are many Self-Directed IRA custodians out there. It is advisable to do your due diligence and ask about such things as how long have they been in business, are alternative assets their sole focus, are they BBB accredited and rated, are they a regulated financial institution, have they ever been sanctioned by any regulatory bodies, how many accounts and how much in assets do they administer?
This has been so helpful, thank you! In regards to them being sanctioned by any regulatory bodies, how can I investigate their response to know if they are telling me the truth or not?
In regards to how long they have been in business. I assume that longer is better but is there a specific tenure I should be looking for? (since 90% of small busi fail in the first 5 years, I am definitely looking for longer than 5 years tenure).
Do I want alternative assets to be their sole focus? I can see the argument both ways but am wondering which one is better?
What amount am I looking for and why in response to "how much in assets to they administer"?
When you say "are they a regulated institution", I think you are referring to gov't backed like "FDIC". Is that correct?
Thank you for taking the time to post your original response and any additional help you are able to provide on this one!