Is there a company in Austin, Texas that I can use as an IRA Custodian?
I have an IRA LLC with checkbook control, however, I'm looking for a reputable company in Austin, Texas where I invest. Any recommendations?
Unless you are dissatisfied with your current custodian, there really is no reason to change if you already have an IRA LLC in place. The custodian's role is quite limited. You can change custodians by having the LLC asset assigned to a new institution, but again, unless you had a real reason to leave your current custodian, there is typically no great benefit in doing so.
With the IRA LLC, any real support you require should be provided by the advisory firm or attorney that established the plan for you.
Self Directed IRA Services is located in Waco and would likely be the only custodian in Texas willing to hold an IRA LLC. Not all custodians are willing to do that as it eliminates the majority of their fees.
Self directed IRA's are a specialty, niche market served by a handful of smaller firms. Quality of service and experience outweigh geography by a large margin.
The true reason is that the custodian is American Pension Services. The SEC obtained an asset freeze on all APS accounts and my contribution for 2014 is impossible... Luckily I can still invest with the IRA LLC.
Thanks for your intuition.
Yes, then absolutely a reason to move.
We use IRA Services Trust Co in California and their overall mix of experience, quality of service and low fees make them a great partner for us. Are they perfect? No. We think they are the best overall choice in the industry - at least as back-end for the IRA LLC model.
SunWest Trust in New Mexico is also a reputable firm.
I've never dealt with Quest, but I believe they might do this out of their Austin office. The contact would be Rebecca Miller. I don't have her direct contact info, but here's her LinkedIn https://www.linkedin.com/pub/rebecca-miller-cisp/2...
Outstanding. I will see if she would be able to lend a hand. Thanks for your insight fellow Austinite :)
#4 Off Topic Contributor
- Investor
- Round Rock, TX
Quest has a presence in Austin. You may also try UDirect out of CA. They have been highly recommended by several folks I have sent their way.