Most people don’t know that their retirement funds can be used to purchase “alternative” assets and still receive the tax benefits associated with their account. We’ve learned as much in our ten years as administrators of self-directed IRAs (SDIRAs).
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| SDIRAs are popular because of their investment opportunities. |
So, it was gratifying to see that SDIRAs were part of Forbes’ “365 Ways to Get Rich” article published this month. “Number 33” on the list encourages investors to put alternative assets in their IRA and the article even goes on to cite IRS code relating to SDIRAs. In this economic environment, where investors are exploring how to achieve real diversification for their portfolios, adjust to market conditions, or both, self directed IRAs are moving into mainstream consciousness.
Our role is growing as an administrator and custodian of IRAs, HSAs, 401(k)s, and Coverdell ESAs. It once seemed to be that all our energy needed to be devoted to educating account holders on the possibilities available to them. Now the focus is on the technology and client service needs of a rapidly increasing number of investors who want to utilize SDIRAs.
Financial technology has exploded in the last several years, making transactions faster and account information more accessible and more up-to-date. To some extent, SDIRA providers have lagged behind this curve, but New Direction IRA has taken the lead in rolling out innovative technology-based services so that our clients have the widest array of account capability as well as the most current account information available.
In addition, New Direction IRA has kept its longtime dedication to personal client service by providing each account with a client representative and making sure that clients have the phone and email contact information they need to get their questions answered promptly.
As our industry comes out from behind a veil of misinformation and lack of publicity into the mainstream, it is incumbent upon us to deliver the service level that American investors have come to expect from their financial service providers. There is a wave of interest and participation in the services that we provide at New Direction IRA—and that’s exciting! Our existing account holders have been pioneers in IRA investing, and their success has drawn the attention of the financial world. We meet their entrepreneurial spirit with ever improving service and technology to enable them to make the most of their tax advantaged accounts.
