New Direction prides themselves on their self directed IRA specialization. Their clients have many choices for investments, including real estate, precious metals, and a number of other attractive alternative assets. The downside to their excellent service is that their fees do not cover storage of precious metals. The sliding scale fee which increases on accounts over $100,000 is a disadvantage as well.
New Direction IRA is ranked #2 on our list of the top precious metals IRA companies of 2020. In the following review, we'll cover the company's history, management, reputation, products/services, and fees.
New Direction IRA, Inc. (www.newdirectionira.com) is a leading provider of administrative and custodial services for self-directed precious metals IRAs and other types of retirement accounts. The company has more than a decade of experience in the IRA industry and is based in Louisville, Colorado.
The Founders of New Direction IRA are Catherine Wynne and Bill Humphrey. Bill is the CEO and Catherine is the President. The Better Business Bureau has Catherine listed as the Owner and Bill as the Principal. Bill has more than 20 years experience as a Certified Public Account, and obtained his Bachelor of Science in Business from the University of North Carolina. He's since improved his background with a graduate study in Finance, Accounting, and Economics from the University of Colorado in Boulder. Catherine handles customer operations and education, with a background in teaching at the University of Denver Law School. You can learn more about the company's management on their ‘About Us' page.
New Direction IRA specializes in self-directed IRAs. They allow their clients to invest in precious metals, real estate, and a variety of other alternative assets within their retirement accounts. They have a proprietary online account access portal called myDirection, which is intended to be used by clients who set up a precious metals IRA with New Direction IRA and choose First State Depository as their preferred depository. The following is a screenshot from New Direction IRA's fee schedule for Gold IRAs:
Most importantly, New Direction IRA's annual fee does not cover the cost of storage. Instead, the account holder has to pay the appropriate annual storage fees to their choice of one of 6 IRS-approved depositories, in addition to the fees paid to New Direction IRA. They also charge a sliding scale annual fee that increases from $75 to $125 if the value of the precious metals in your account goes over $100,000. This is in contrast to some other custodians who charge a low flat-rate annual fee that includes the cost of storage.
Most financial advisors recommend allocating about 5%-20% of your retirement portfolio to precious metals. However, this seemingly small portion of your portfolio could actually wind up being the most important, as gold and other precious metals serve as an effective hedge against inflation. Plus, we all know that the value of gold increases as the economy worsens, because that's when investors start to avoid cash-based investments and start looking for ways to protect the value of their savings.
Given the strategic importance of a Gold IRA with your overall retirement portfolio, choosing the right Gold IRA company and/or custodian can be a stressful process, especially considering what's at stake. If you're having trouble making a decision, we urge you to start by conducting your own research. We've made it easy for anyone to quickly examine various aspects of each custodian and Gold IRA company with our Top Precious Metals IRA Custodians of 2020 and Top Gold IRA Companies of 2020 comparison charts.
If you're an owner, associate, or representative of New Direction IRA and you've noticed any information within this review that is misleading, incorrect, or outdated, please do bring it to our attention. We strive to provide the most accurate and useful reviews continually, and will therefore honor any revision or removal requests that are in line with that goal.
We looked at more than three dozen companies while building this year's list of the top precious metals IRA custodians. Our comparison chart makes it easy for anyone to conduct their own research and learn about the background, reputations, features, policies, and fees, of each of the top custodians, which we've researched and ranked based on the following easily observable factors:
Out of all of the custodians we researched, Equity Institutional averaged the best in all of the above areas, with a reputation spanning three decades, a low flat-rate annual fee, and partnerships with leading Gold IRA companies like Regal Assets. In fact, Equity Institutional's relationship with Regal Assets is one of the reasons why they've been able to rank as the #1 custodian this year. Although it is possible to open an account with Equity Institutional directly, there's a long list of advantages associated with going through Regal Assets to open your account, including:
If you'd like to learn more about the advantages of opening an Equity Institutional precious metals IRA through Regal Assets, see the full review of Regal Assets. You can also access Regal Assets' highly informative investor's education kit that teaches you everything you need to know about investing in a Gold IRA by filling out the simple form below.
Unsure about which Gold IRA company to choose? Let us match you based on your situation and objectives by taking this 1 minute quiz:
New Direction prides themselves on their self directed IRA specialization. Their clients have many choices for investments, including real estate, precious metals, and a number of other attractive alternative assets. The downside to their excellent service is that their fees do not cover storage of precious metals. The sliding scale fee which increases on accounts over $100,000 is a disadvantage as well.
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