IRA Financial is a smaller firm that was founded by tax law specialists. Despite their small size, they manage over $4.9 billion in self-directed IRAs. IRA financial offers both conventional and unconventional options like real estate, private business stock, peer to peer (P2P) lending and even cryptocurrency. They also provide their clients with maximum flexibility via checkbook writing.
Who IRA Financial is best for
This firm is suitable for investors who are looking to work with a smaller firm that offers a range of alternative investments with check writing. IRA financial offers investments like cryptocurrencies that other firms prohibit. This could either motivate or repel investors depending on their thoughts regarding cryptocurrency.
Check out our roundup of the Best Self-Directed IRAs
IRA Financial investment options
Some investments that can be purchased in IRA financial self-directed IRAs are:
- Real Estate which includes land, mobile homes, and newly developed projects.
- Precious Metals.
- Private Placements.
- P2P loans and even mortgages. This also includes promissory notes and other private loans like equipment financing.
- Stock Options. These products are a type of derivative and some common option strategies include covered calls, protective puts, and strangles.
IRA Financial features
IRA financial is one of the better custodians as it offers check writing, various investment options and has low fees. In fact, it doesn’t have startup nor storage fees. Yet, it does have annual custodian fees and transaction fees. Annual custodian fees range from $180 – $360, are deducted quarterly and are cheaper with checkbook control. Transaction fees are $35 – $45 each time an investor trades an asset and fluctuate based on asset class.
Customer support
Despite being a smaller firm, it does provide excellent customer service online or over the phone. It includes many investment guides, blogs, and podcasts for investors on its site. These go into detail about each investment type and how to properly use a self-directed IRA. Another unique perk it has is IRS audit protection. This makes sense as IRA financial was founded by tax professionals.
Pros
- Unique perks that include educational resources, superb customer service and IRS audit protection.
- Vast choice of alternative investments.
- Minimal fees.
- Check writing
Cons
- Dated technology. While IRA financial offers superb educational resources and choices, it uses dated technology for onboarding. Thus, it takes longer to open an account and do transactions online.
- Minimal traditional investment offerings. This firm specializes in alternative assets and doesn’t offer standard choices like stocks, bonds along with mutual funds.