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.
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. |
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.
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. If you are considering using IRA Financial, you’ll find a lot of features and flexibility that can help you invest how you want. If you go in informed, knowing the risks with alternative asset investing, it can be a powerful tool. But it’s not a “set-and-forget” solution without trade-offs.
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.
