When it comes to self-directed retirement investing, IRA Financial and Inspira Financial (formerly Millennium Trust Company) take very different approaches. Inspira operates as a large-scale custodian focused on traditional oversight and compliance, while IRA Financial is designed for investors who want more hands-on control through a flexible, technology-driven platform. Here’s how they stack up in cost, investment options, technology, and overall value.
In this comparison, we’ll break down how the two companies stack up across key categories — including account options, fees, investment flexibility, and reputation — to help you decide which one fits your goals best.
Pricing & Fees: Transparent, Flat, and Investor-Friendly
Fees can make or break your long-term returns. IRA Financial and Inspira Financial both charge administrative costs, but their structures are fundamentally different. IRA Financial offers flat, predictable pricing, while Inspira Financial relies on asset-based and transaction fees that can grow along with your portfolio.
 |  | |
Setup Fee | $0 | $0 |
Annual Fee | $495 | $750 |
Asset Value Fee | $0 | $0 |
Investment Fee | $0 | $0 |
Roth Conversion Fee | $0 | $50 |
1 Year Total Cost | $495 | $750 |
5 Year Total Cost | $2,475 | $3,750 |
Based on 4 investments and a $200K balance
IRA Financial:
- Simple flat-fee structure starting at $495/year for Self-Directed IRAs, with other plans starting at $100 annually.
- No setup fee for custodian-controlled plans, and only a one-time establishment fee for Checkbook IRA or similar structures.
- No asset-based or transaction fees, regardless of account value
- The IRAfi Crypto platform features low crypto trading fees through the IRA Financial app
Inspira Financial:
- Annual fees vary depending on account balance and number of assets held (starting at $350/year for one alt. investment)
- Offers a starter account for $250 annually (less than $20k market value)
- Charges for transactions, asset valuations, and investment reviews
- Additional custody or storage fees for certain alternative investments
- Complex pricing structure that can increase as your account grows
Summary
Inspira’s experience as a large-scale custodian comes with a layered fee schedule that can be tough to forecast. IRA Financial’s transparent, flat-fee approach keeps things simple, predictable, and cost-effective for both small and large investors.
Winner: IRA Financial
IRA Financial wins for its flat, transparent pricing—ideal for investors who don’t want rising fees as their portfolio expands.
Winner: IRA Financial
IRA Financial wins for its flat, transparent pricing—ideal for investors who don’t want rising fees as their portfolio expands.
Investment Flexibility & Product Options
Both IRA Financial and Inspira Financial let clients move beyond traditional investments, but they differ greatly in how investors access and control those assets. Inspira offers a strong custodial model, while IRA Financial provides true Checkbook Control and direct investing power.
| | |
Self-Directed IRA | ||
Solo 401(k) | ||
Checkbook Control | ||
ROBS Structure | ||
Crypto Platform |
IRA Financial:
- Access to real estate, private placements, precious metals, and cryptocurrency and more investments
- Offers Checkbook Control for fast, self-managed investments
- Ability to invest through LLCs or trusts
- Supports Solo 401(k) and ROBS business funding options
- Designed for investors who want speed, control, and freedom
Inspira Financial:
- Wide range of alternative investments, including real estate, hedge funds, and private equity
- Custodian-based structure—all investments must be processed and approved through Inspira
- No Checkbook Control, limiting investor autonomy
- May have slower transaction times due to document and review requirements
Summary
Inspira offers an impressive list of investment options but requires custodial approval for every transaction. IRA Financial gives investors true independence through Checkbook Control, allowing quicker action and greater flexibility.
Winner: IRA Financial.
With Checkbook Control and open architecture, IRA Financial offers more freedom for investors who prefer to manage their own deals.
Winner: IRA Financial.
With Checkbook Control and open architecture, IRA Financial offers more freedom for investors who prefer to manage their own deals.
Technology: Built for the Modern Investor
Today’s investors expect fast, seamless account management. IRA Financial’s technology-first approach delivers that with an integrated mobile app, while Inspira’s tools are built around traditional custodial workflows.
IRA Financial:
- All-in-one app to open accounts, fund, invest, and manage your retirement plan.
- Integrated dashboard for all investment types, including crypto and real estate
- Secure document upload, funding, and digital signatures
- Streamlined tools for crypto, transfers, and checkbook control in one place
- Real-time account tracking and transparency
Inspira Financial:
- Online account portal for clients and advisors
- Primarily focused on administrative tasks and reporting
- Limited functionality for direct investing or digital transactions
- More dependent on manual document processing and support requests
Summary
Inspira’s platform supports reliable account management but lacks the modern, investor-facing tools that make the process efficient. IRA Financial’s app-based system offers convenience, control, and speed—ideal for hands-on investors.
Winner: IRA Financial.
IRA Financial stands out for its integrated mobile platform, providing real-time access and digital management that Inspira’s traditional interface can’t match.
Winner: IRA Financial.
IRA Financial stands out for its integrated mobile platform, providing real-time access and digital management that Inspira’s traditional interface can’t match.
Reputation & Customer Reviews: Trusted by Thousands
Both IRA Financial and Inspira Financial have built strong reputations for serving investors nationwide. Inspira’s long-standing experience as a large custodian adds credibility, while IRA Financial stands out for its innovation, customer education, and accessibility.
| | |
Trustpilot | 4.8 / 5 | 3.8 / 5 |
4.8 / 5 | 4.1 / 5 | |
Other Platforms | 4.8 / 5 | 1.1/ 5 |
IRA Financial:
- Over 24,000 clients nationwide, managing $4+ billion in assets
- Backed by 3,000+ 5-star reviews across Google, Trustpilot, and other platforms.
- Known for educational resources, personal service, and innovation
- Frequently featured in media for leadership in self-directed retirement
- Founded by tax attorney Adam Bergman, a leader in the self-directed space
Inspira Financial:
- Formerly Millennium Trust, with decades of custodial experience
- Large client base and strong institutional partnerships
- Some client feedback mentions slow turnaround times for investment approvals and communication
Summary
Both companies are respected, but IRA Financial has earned its reputation as a more modern, client-focused provider, while Inspira’s size and structure can make service feel less personal.
Winner: IRA Financial
IRA Financial’s proactive client education and responsive service give it the edge over Inspira’s traditional custodial approach.
Winner: IRA Financial
IRA Financial’s proactive client education and responsive service give it the edge over Inspira’s traditional custodial approach.
The Bottom Line: Why IRA Financial Is the Smarter Choice
Inspira Financial is a trusted name in custodial retirement services, offering extensive experience and a broad investment menu. However, IRA Financial delivers something different: greater freedom, lower costs, and a modern platform designed for investors who want full control over their retirement future.
Why Choose IRA Financial
- Flat, transparent pricing—no asset-based fees
- Full Checkbook Control for self-managed investing
- Mobile app for fast account setup and crypto trading
- Dedicated support and ongoing educational content
Why Choose Inspira Financial
- Decades of experience as a large custodial administrator
- Strong institutional infrastructure and compliance systems
- Suitable for investors who prefer a traditional, managed process
Final Verdict:
Inspira Financial offers a solid foundation for traditional custodial IRAs, but IRA Financial’s flat pricing, Checkbook Control, and technology-driven platform make it the smarter choice for today’s self-directed investor.
IRA Financial wins for giving investors what Inspira doesn’t: true control, simplicity, and transparency in one streamlined platform.
Take Action:
Choose what’s best for your future:
👉 Schedule a Free Consultation
👉 Open an Account
