can anyone recommend a good Self-Directed IRA company ? I've been using Equity Trust but am tired of all the bogus fees, poor customer service, and screwed up paperwork.
Disclosure: Service provider within the industry
I cannot specifically recommend a firm, since I work for a provider of self directed IRA & 401k plans.
I'm sure you will get some feedback from BP users that may help guide your search related to specific firms.
The point of my post it to recommend that before you consider which vendor to switch to, you evaluate which business model will be most effective for your investment portfolio.
IRA custodians (trust companies) are purely processors capable of transacting for the benefit of a client's IRA into non-traditional assets. Since transactions in this area are unique, everything is done by human beings and mistakes and delays happen. Any trust company will fall down at some point if you are asking for rapid turnaround of multiple transactions. And yes, there are some we would recommend over your current provider when it comes to customer service, but they are still not perfect.
A plan offering checkbook control eliminates that 3rd party processing layer for IRA investment transactions. You can self administer the investments out of a bank account of your choosing. If your portfolio contains multiple investments, or investments that are time-sensitive or transaction intensive by nature, you will find the IRA LLC or Solo 401k a much better tool for your needs.
IRA Services Trust Company and Pensco Trust Company both offer self-directed IRAs and will also hold IRA LLCs. You may also want to explorer a self-directed solo 401k if you are self-employed.
Disclosure: A custodian
You raise a good point about service versus fees. Make sure when you are evaluating custodians they have an interactive web site with a chat function so you can get answers right away. Service is critical for timely transactions.
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