The idea of controlling your retirement savings more directly appeals to many investors. But when you hear about IRA Financial, a frequent question is: Is IRA Financial legit? In the following, we’ll walk you through what IRA Financial is, what our regulatory and trust credentials are, and what clients say. If you’re considering IRA Financial, this is a must-read.
What Is IRA Financial?
Here’s a high-level overview:
- Founded in 2010 by Adam Bergman, a tax attorney who’s written several books on self-directed retirement plans.
- Headquartered in Sioux Falls, South Dakota with a secondary office in Miami Beach, Florida, IRA Financial and employs roughly 100 individuals.
- IRA Financial specializes in self-directed retirement solutions: Self-Directed IRAs (traditional and Roth), Checkbook IRAs, Solo 401(k)s, SEP & SIMPLE IRAs, HSAs, Coverdell ESAs, and business structures like ROBS.
- Clients are allowed to invest in a variety of alternative assets: real estate, precious metals, private equity, promissory notes, etc.
As seen in:
Regulatory & Security Credentials
For legitimacy, regulation, custody, and security are key. Here’s how IRA Financial stacks up:
| Area | What IRA Financial Says / Evidence | What to Consider |
|---|---|---|
| Custodian / Trust Regulation | The arm under which accounts are held, IRA Financial Trust Company, is a South Dakota state-chartered custodian under IRS Code § 408(a)(2), and a bank custodian under § 408(n). | That means legal oversight is in place—good. Still, regulations around self-directed retirement plans allow a lot of variation among providers. Always read the custodian agreement. |
| Security of Funds | Cash in accounts are held at Capital One, with FDIC protection up to standard limits, until those funds are invested. | Once invested, risk depends on the asset. Alternative investments often carry more risk (illiquidity, market risk, fraud) than stocks/bonds. Regulated custodian doesn’t guarantee investment safety. |
| Experience & Scale | Over 25,000 clients across all 50 U.S. states, with over 4 billion dollars in alternative assets managed. | Scale is a good sign; but even big firms have issues. Track record is helpful. |
| Transparency & Disclosures | IRAFinancial.com contains FAQs, detailed info on about fees, regulatory status, and investment options. | Some customers report confusion about fees or surprise charges. Download our full fee schedule. |
Why People Ask This
Unfortunately, scams do exist in the self-directed retirement industry. The freedom to invest outside of traditional Wall Street products, like real estate, private placements, and precious metals also attracts bad actors. Some companies misrepresent their role, acting more like sales promoters than custodians. Others fail to properly explain IRS rules, leaving investors exposed to penalties or, worse, fraud.
These concerns are real, and it’s smart to ask tough questions before choosing a provider. That’s exactly why IRA Financial is built differently.
Here’s how IRA Financial protects you:
- Regulated Custodian: Accounts are held with IRA Financial Trust Company, a South Dakota state-chartered custodian approved under IRS rules—not with an unregulated entity.
- Security of Funds: Cash is safeguarded at Capital One with FDIC insurance up to standard limits until you choose your investments.
- Transparency: We publish detailed fee schedules and provide clear disclosures, so you know exactly what to expect.
- Expert Guidance: Our team, led by tax attorneys and retirement experts, helps you navigate complex IRS rules and avoid prohibited transactions.
At IRA Financial, our mission is to give you the freedom to invest with confidence—without sacrificing the safeguards you need for long-term security.
Active clients across all 50 states
Assets under administration
Client retention rate
What Customers & Reviewers Say
No company is perfect. There are a lot of positive reviews and some negative ones too. It helps to see both sides.
Overall, The Feedback is Positive
- On Trustpilot, IRA Financial generally has very high ratings (around 4.8/5) from over 1,500 reviews. Users often praise helpful customer service, clarity in explanations, being walked through difficult or unfamiliar processes.
- On Google, IRA Financial also scores well with hundreds of 5 star reviews citing positive interactions with team members and experience in relation to other custodians.
- Many users like the freedom of alternative investments available. For people who want more flexibility (real estate, private placements, LLCs, etc.), IRA Financial is often seen as a strong option.
- IRA Financial has a 97% client retention rate, meaning the vast majority of clients keep their accounts open year in and year out.
Common Risks or “Red Flags” for Self-Directed IRAs (Including IRA Financial)
Even with a legit provider, self-directed retirement accounts bring special risks.
- Investment due diligence is on you: Custodians generally do not vet or guarantee the legitimacy of alternative investment opportunities. The provider holds the paperwork; you pick the investments. If you invest in a bad deal, the custodian isn’t responsible.
- Complex rules: IRS rules for prohibited transactions, related parties, etc., apply and mistakes can lead to penalties or disqualification. You need to understand those or have expert help.
- Illiquidity & valuation issues: Some alternative assets are hard to value or exit, which can complicate things, especially if you need money in a hurry.
- Fee structure complexity: Maintenance, “Checkbook IRA” LLC setup costs, closure fees, transactional fees, possibly hidden or unexpected. Transparency is key.
Our Commitment to Compliance and Clarity
When it comes to your retirement savings, you deserve full visibility into who we are, how we operate, and what it costs to work with us. At IRA Financial, transparency isn’t optional—it’s built into everything we do.
Regulatory Oversight
- IRS Approval: IRA Financial Trust Company is a South Dakota–chartered, IRS-approved non-bank custodian under Internal Revenue Code §408.
- State Supervision: As a trust company, we are regulated by the South Dakota Division of Banking.
- Custodial Role: We administer your account in compliance with IRS rules. That means we handle custody and recordkeeping—we do not sell or promote specific investments.
We believe in upfront pricing. Our complete fee schedule is publicly available and easy to review, so you always know what to expect.
At IRA Financial, our goal is simple: to give you the freedom of self-directed investing backed by the security of regulatory compliance and clear disclosures. Check out our “About Us” page to learn more about our team.
See What Our Clients Have to Say
The Verdict: Is IRA Financial Legit?
Based on the evidence, Yes, IRA Financial is a legitimate company. It operates under regulated custodial entity, has thousands of clients, significant assets under management, some really positive reviews, and longstanding presence in the self-directed retirement market.
Who Might IRA Financial Be a Good Fit For?
- Investors who want more control over retirement funds, and want to use alternative investments (real estate, precious metals, private placements) that traditional brokerage IRAs don’t support.
- People comfortable with reading fine print, asking questions, understanding fees, and possibly hiring tax or legal help when necessary.
- Those okay with slower processes for setup, closing, or transfers, in exchange for flexibility.
Conclusion
In short, IRA Financial is legit. With over 15 years of experience, regulatory approval, and billions of dollars in alternative assets under custody, we’ve earned the trust of thousands of investors nationwide. If you are considering IRA Financial, you’ll find a partner that gives you more flexibility, transparency, and control than traditional retirement providers.
That said, self-directed investing is not “set-and-forget.” It requires understanding IRS rules, doing due diligence on your investments, and being comfortable with the unique risks and rewards of alternative assets. For investors who value independence, diversification, and the ability to break free from Wall Street–only choices, IRA Financial can be a powerful tool for building wealth on your own terms.
At the end of the day, we believe retirement should be about freedom and confidence—not confusion. That’s why we combine the safeguards of a regulated custodian with the guidance of dedicated specialists who are here to support you every step of the way.
Invest freely. Retire confidently. That’s the IRA Financial difference.
Ready to take control of your retirement?
Schedule a free consultation with one of our specialists to explore your options, or open an IRA Financial account today and start investing on your terms.
👉 See Why Thousands Choose IRA Financial and Schedule a Free Consultation
👉 Open an Account with Confidence
About the Author
Adam Bergman is a tax attorney and the founder of IRA Financial, one of the largest Self-Directed IRA platforms in the United States. He has helped more than 27,000 clients take control of their retirement savings, overseeing over $5 billion in retirement assets. Adam is also the author of nine books focused on helping investors understand and confidently manage their retirement strategies.
Quick FAQs
Is IRA Financial safe?
Yes. IRA Financial is a regulated financial institution and an IRS-approved non-bank custodian. We prioritize the security of our clients’ retirement assets through industry-standard safeguards, regulatory compliance, and dedicated client support. With over $4 billion in alternative assets under custody, investors trust IRA Financial to provide a secure and compliant way to take control of their retirement funds.
Is IRA Financial a custodian or a promoter?
IRA Financial is an IRS-approved, South Dakota-chartered non-bank custodian—not a promoter. As a custodian, we handle the administration and recordkeeping of your self-directed retirement account in compliance with IRS rules. We do not sell or promote specific investments. Instead, we provide the structure and support that empowers you to invest your retirement funds in the assets you choose.
What complaints does IRA Financial have?
Like any financial institution serving thousands of clients, IRA Financial has received some complaints over the years. Common concerns typically involve processing times, paperwork delays, or communication challenges. However, we take client feedback seriously and continually improve our processes to provide faster service, better technology, and responsive support. We are committed to transparency and to addressing client concerns promptly, so investors can focus on growing their retirement savings with confidence.
