How to Choose a Self-Directed IRA Services Provider

If you are part of the growing class of individuals who have decided to take control of your own retirement funds and investing decisions by using a self-directing IRA, the next step is critical—choose the right self-directed IRA services provider. These firms serve as the administrators of your plan that perform critical and sometimes complex administrative duties to facilitate proper recordkeeping, reporting, and accurate investment processes for your self-directed plan.

Finding the right fit for you and your investment needs is just as important as the due diligence you should exercise when choosing assets for your portfolio.

Questions to Ask a Self-Directed IRA Services Provider

Here are a few key questions to ask the self-directed IRA services providers before making your final decision.

1. Do you allow the alternative assets I want to investDiverse group of business men and women standing together and smiling at the camera representing a group of self-directed IRA services providers. in?

Even though self-directed retirement plans allow alternative investments such as real estate, precious metals, private equity, private mortgages, oil and gas options, and much more—not all providers are equipped to maintain some of these assets and/or don’t allow them as holdings. So, make sure the provider you pick allows the alternative assets you want to invest in inside their plans.

2. How knowledgeable is your staff in this industry?

Make sure the company’s staff knows and understands current IRS rules and regulations for IRAs, as well as new laws (such as the retirement plan provisions in the SECURE Act and SECURE Act 2.0). Perhaps they complete continuing education in their field or are qualified to provide industry education to others.

3. Are any of your staff Certified IRA Service Providers (CISPs)?

The CISP certification is not an IRA industry requirement. However, it is a prestigious designation from the American Bankers Association, and there are requirements one must meet to achieve this title. Certificate holders must have the required experience, education, and pass a comprehensive exam to become a CISP. They have met industry-recognized standards for expertise in IRAs, including competency in rules, investing processes, contribution limits, and distributions.

4. As a self-directed IRA services provider, what level of service can I expect from you?

You should expect professional service. But you deserve to be treated like a person and not just another number up next in the queue. You want someone who recognizes your name, knows the details of your account, and who understands your unique financial and investing perspectives.

5. Do you provide educational resources on self-directed investing I can use?

Make sure the provider you choose has more than a few resources you can access. Most offer seminars, webinars, articles, guides, videos, and more. Some providers offer more than others. You want access to tools you’re comfortable with and that you feel can best empower you to invest with confidence and ease.

Advantages of Advanta IRA as Your Self-Directed IRA Services Provider

You work hard to grow income so you can comfortably retire, so let’s make sure you work with the best firm to help you reach that goal.

Advanta IRA is a leading self-directed retirement plan administrator serving clients across the nation. With over $2.5 billion in assets under management, we are a firm you can trust. We provide unparalleled, white-glove service to our clients who appreciate our professional yet personal relationships we have with them.

Advanta IRA’s answers to the questions above:

    1. Advanta IRA allows every alternative investment in our self-directed accounts.
    2. Members of our team complete monthly continuing education courses to expand their knowledge and stay abreast of IRA rules and regulations.
    3. Most of our team hold advanced degrees and/or the CISP designation. Others have extensive backgrounds in law, financial planning, tax laws, and investment planning.
    4. Our dedicated client account managers know our clients by name, and you’ll work with a dedicated account manager throughout your investment processes.
    5. We host weekly webinars to teach our clients and other people the benefits and potential self-direction presents. Advanta IRA’s podcast, blogs, and resources library offer exceptional information on self-directed investing topics and strategies, account types, and the options in the alternative investment class.

Advanta IRA does not sell investments and we do not give investing advice. We perform recordkeeping duties that ensure the administrative details of your account/s are correct and comply with IRS regulations. Our clients trust us to provide impeccable services to their accounts, which gives them the freedom and time to identify promising investment opportunities.

Advanta IRA believes that knowledge is power, control is key, and diversity is essential in successful retirement portfolios.

The best way to achieve all three of these elements is by taking control of your own investment funds and choices using a self-directed IRA. Advanta IRA is poised to help you do exactly that. We deliver the personal service and professional expertise you need to successfully navigate the diversification of your retirement portfolio and capture the potential and desirable returns on your alternative investments.

Interested? Schedule a free consultation or open an account today.

Learn more about self-directed IRAs and alternative investments:

What Are Alternative Investments? Here’s a List of 120+ for You & Your SDIRA

The Smart Investment Strategy of Real Estate in a Self-Directed IRA

Alternative Investing Advantage Podcast

About Scott Maurer

Scott Maurer, Vice President of Sales for Advanta IRA, is a recognized expert in the field of self-directed IRAs. With a law degree from the University of Florida and as a designated Certified IRA Services Professional (CISP), Scott’s keen understanding of rules and regulations fuels his passion to educate others on the power of investing in alternative assets using self-directed IRAs. Scott is a frequent guest on retirement and investing webinars and podcasts, and he has shown thousands of individuals how to achieve financial freedom by teaching them how to use their retirement funds to invest in private placements, real estate, private lending, and more. Throughout his two decades in the industry, he has watched numerous unique investments unfold, giving him great perspective of what is possible when people take control of their retirement funds and investing decisions.