New Direction IRA Review: Is This IRA Custodian Worthy of Your Gold IRA?

The self-directed individual retirement account (IRA) expertise offered by New Direction is a point of pride for the company. Real estate, precious metals, and a number of other appealing alternative assets are some of the investment options available to their customers. The excellent service they provide is only marred by the fact that their prices do not include the cost of storing precious metals. In addition to this, the termination and setup fees that they demand are often subpar in comparison to those demanded by their rivals, such as Equity Trust. A further detriment is the fee structure, which is based on a sliding scale and increases for accounts that are greater than $100,000.

PROs

  • There is a wide variety of options available, ranging from precious metals to real estate, as well as other alternative assets.
  • Direction, which is the company’s proprietary online account access interface, is a robust and user-friendly product.
  • They provide six different IRA depositories for customers, from which they are free to choose one.
  • Cost to open an account that’s only $50.

CONs

  • The substantial fees associated with IRAs do not include the cost of storing precious metals.
  • Fees are calculated using a sliding scale, which means that as the value of the account grows, so do the associated fees.
  • There is a maximum charge of $250 associated with closing an account.

On our list of the best companies offering precious metals IRAs in 2022, New Direction IRA came in at position number two. In the following analysis, we will discuss the background of the company, its management, its reputation, its products and services, and its prices.

New Direction Trust Company IRA, Inc. is a market leader in the provision of administrative and custodial services for self-directed precious metals IRAs in addition to other kinds of retirement accounts. Their website can be found at www.newdirectionira.com. Louisville, Colorado, is the location of the company’s headquarters, and it has more than a decade of experience working in the IRA industry.

No matter how you look at it, New Direction is one of the best companies in the industry due to the fact that it has been around for a long time, has a reasonable fee structure, and has a proven track record of providing excellent security. Self-directed investors who are looking for a reliable custodian who can handle their assets in a safe environment may want to consider Equity Trust Company as an alternative. Despite the fact that they do not rank as highly as their competitor, Equity Trust Company, Equity Trust is a good option for self-directed investors.

In Regards to the Administration

Catherine Wynne and Bill Humphrey are responsible for the establishment of the New Direction IRA. According to the LinkedIn page for the company, the following individuals are considered to be key personnel at the company:

  • The late Bill Humphrey (Chief Executive Officer)
  • Aaron Benway (Chief Revenue Officer)
  • Kevin Dodson (Chief of Staff)
  • Oliver Chung (Director)
  • Dan Falardeau (President, Hawaii Division)
  • Nikki Sisneros (VP of Trust Accounting)

Bill Humphrey is a Certified Public Accountant with more than 20 years of experience. He received his Bachelor of Science in Business from the University of North Carolina, where he also earned his CPA certification. Since then, he has expanded his knowledge by attending graduate school at the University of Colorado in Boulder, where he studied finance, accounting, and economics. Catherine Wynne, on the other hand, is in charge of customer operations and education. She also has previous experience working as a professor at the University of Denver Law School. On the “About Us” page of the company’s website, you will find more information about the company’s management.

When a company such as New Direction is open and transparent about its management, it gives off a positive impression. New Direction is not afraid to reveal the identities of the people who run the company, in contrast to other businesses that are notorious for their secrecy. This is a trustworthy signal that should not be taken lightly, in our opinion, as it indicates that they are likely to be much less prone to scandals than certain other companies. Because of this, we believe that you should pay close attention to this information.

Pricing and Availability of New Direction IRA Products

elf-directed individual retirement accounts are New Direction IRA’s area of expertise. They make it possible for their customers to use the funds in their retirement accounts to make investments in precious metals, real estate, and a wide variety of other alternative assets. Customers who establish a precious metals IRA with New Direction IRA and select First State Depository as their preferred depository are eligible to use the company’s proprietary online account access portal, which is known as Direction. This portal can be accessed by clicking here. A portion of the fee schedule for Gold IRAs offered by New Direction IRA can be seen in the following screenshot:

The most important thing to note is that the annual fee for the New Direction IRA does not cover the cost of storage. In its place, the account holder is required to pay the appropriate annual storage fees to the IRS-approved depositories of their choice, in addition to the fees paid to New Direction IRA. These fees are in addition to the fees already paid to New Direction IRA. They will also charge you an annual fee that is based on a sliding scale and ranges from $75 to $125, depending on the value of the precious metals held in your account. If that value exceeds $100,000, the fee jumps from $75 to $125. In contrast to this, there are some other custodians who charge a low annual fee that is a flat rate and includes the cost of storage in their service.

Even though each of New Direction’s fees is reasonable on its own, the company charges a plethora of fees that, when added together, can make a significant impact over the course of an account’s lifetime, particularly when account termination and setup fees are taken into consideration. According to our research, the fee structure of Equity Trust is superior because it is more streamlined and simplified, and it does not contain any surprises or hidden fees.

Information on How to Contact the New Direction IRA

  • Location: 1070 West Century Drive, Suite 101, Louisville, Colorado, 80027
  • The number to call free of charge is 877-742-1270.
  • Phone:303-546-7930
  • Fax: 303-665-5962
  • Email: info@ndira.com

What is an Individual Retirement Account? Gives an overview of IRAs and answers some basic questions about the different types of IRA accounts.

This article defines what a self-directed individual retirement account (IRA) is and explains the advantages of having one.

Information about the fees associated with New Direction IRA can be found here.

Before deciding to invest with New Direction IRA, carefully consider all of your available choices.

The majority of financial advisors agree that a reasonable allocation of your retirement portfolio to precious metals is somewhere between 5 and 20 percent. However, despite its seemingly insignificant proportion of your portfolio, gold and other precious metals can be an efficient hedge against inflation. This makes owning gold and other precious metals an attractive investment option. Additionally, it is common knowledge that the price of gold goes up when the economy is in a downward spiral. This is due to the fact that when times are tough, investors tend to steer clear of cash-based investments and look instead for ways to safeguard the value of their savings.

Considering the strategic importance of a gold IRA within the context of your overall retirement portfolio, selecting the appropriate gold IRA company and/or custodian can be a stressful process. This is especially true when you consider what is at stake in the process. If you’re having trouble deciding what to do, we strongly recommend that you begin by doing some independent research on the topic. With the help of our comparison charts ranking the best precious metals IRA custodians of 2022 and the best gold IRA companies of 2022, we have made it simple for anyone to quickly investigate a variety of facets associated with each custodian and gold IRA company.

If you are an owner, associate, or representative of New Direction IRA and you have found any information in this review that is misleading, incorrect, or out of date, we would greatly appreciate it if you could bring it to our attention. We constantly work to provide the most accurate and helpful reviews possible, and as a result, we will comply with any requests for revisions or deletions that are congruent with achieving this objective.

The Reasons Why Equity Institutional Is Ranked as the Number One IRA Custodian for 2022

During the process of compiling this year’s list of the best precious metals IRA custodians, we evaluated more than three dozen different businesses. Our comparison chart makes it simple for anyone to conduct their own research and learn about the histories, reputations, features, policies, and fees of each of the leading custodians, which we have investigated, ranked and compared based on the following easily observable criteria:

  • What are the fee structure and annual cost? Is it a flat rate, or do they have a sliding scale?
  • How the depository is utilized, as well as any additional annual costs associated with storage (if any) – does the annual fee include storage costs?
  • General notoriety and presence on the internet
  • The fee required to create an account

Equity Institutional, out of all of the custodians that we researched, came out on top as having the best average performance in all of the aforementioned categories. They have a reputation that spans three decades, a low flat-rate annual fee, and partnerships with leading Gold IRA companies like Regal Assets. In point of fact, one of the reasons why Equity Institutional has been able to maintain its position as the top custodian this year is due to the relationship that they have with Regal Assets. Although it is possible to open an account with Equity Institutional on your own, opening an account with Regal Assets has a number of benefits that are not available if you choose to do so directly. These benefits include the following:

If you open an account with Regal Assets worth $10,000 or more, the company will typically waive the setup and annual account fees for the first year. Depending on the value of your account, Regal Assets may waive the fees for the first three years as well.

They are one of the top bullion dealers and gold IRA companies, and they have the best online reputation and industry presence of any of the other top companies in this field. The Better Business Bureau, the Business Consumer Alliance, and Trustlink all award Regal Assets the highest possible ratings, which the company has consistently attained.

Regal Assets is a bullion dealer, so the process of opening an account with them and purchasing the appropriate approved bullion products can both be completed in a single streamlined step. They will never make the mistake of trying to sell you numismatics or any other coins or bars that aren’t even qualified to be put into an individual retirement account (IRA).

Initial investments can be made with as little as $5,000 if that is what the investor chooses to do. In contrast to this, there are other companies that demand a minimum investment of at least $10,000 in order to participate.

You have the option of having your gold stored in an offshore depository, such as those found in London or Singapore, through Regal Assets (which may currently be the safest place to store IRA gold in the world).

Any precious metals that you have purchased from Regal Assets can be returned to them at any time for a price that is mutually agreeable, and the money can be deposited back into your account within twenty-four hours on any given business day. The guaranteed buyback program reduces the amount of risk that investors are exposed to, thereby increasing their level of contentment.

Extraordinary standing in the industry, as evidenced by features in publications such as Forbes, Smart Money, MarketWatch, and Inc. Magazine.

Check out our comprehensive review of Regal Assets if you’re interested in learning more about the positive aspects of opening an Equity Institutional precious metals IRA through Regal Assets. Read our in-depth analysis of Equity Trust, the self-directed individual retirement account custodian that earned the number one spot in our rankings.

Review of the New Direction for the IRA, in Summary

The self-directed individual retirement account (IRA) expertise offered by New Direction is a point of pride for the company. Real estate, precious metals, and a number of other appealing alternative assets are some of the investment options available to their customers. The excellent service they provide is only marred by the fact that their prices do not include the cost of storing precious metals. In addition to this, the termination and setup fees that they demand are often subpar in comparison to those demanded by their rivals, such as Equity Trust. A further detriment is the fee structure, which is based on a sliding scale and increases for accounts that are greater than $100,000.

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