Are you planning to invest your retirement money in alternative assets such as precious metals, real estate or crypto? Well, you can do so through a self-directed IRA. AltoIRA is one of the companies that offer this service, but before you try them, we want to make sure you don’t get scammed. In this detailed review about AltoIRA, find out whether they are legit or scam, and whether we recommend them for your alternative assets investment.
Table of Contents
- 1 What Is AltoIRA?
- 2 Do They Offer Precious Metals IRAs?
- 3 AltoIRA Products and Services
- 4 AltoIRA Fees
- 5 Company Info
- 6 Location:
- 7 Address:
- 8 Year Founded:
- 9 Managers:
- 10 Overall Rating:
- 11 Recommended?
- 12 Advantages of Choosing AltoIRA
- 13 Easy-to-use Platform
- 14 Great Customer Service
- 15 Allows Private Deals Investments
- 16 Disadvantages of Choosing AltoIRA
- 17 Limited Investment Options
- 18 Higher Fees
- 19 Lack of Customer Reviews and Testimonials
- 20 Not Accredited By The BBB
- 21 Customer Reviews and Ratings
- 22 Should You Consider AltoIRA for Your Precious Metals IRA Rollover?
- 23 Is AltoIRA Legit?
- 24 Conclusion
What Is AltoIRA?
AltoIRA is a brokerage firm that offers self-directed IRAs to enable investors like you invest their retirement funds in alternative assets such as real estate or crypto. The company was founded in 2018 by Eric Satz and is based in Nashville, Tennessee. His aim was to provide investors with a robust digital platform that allows them to have more control of their retirement monies. Their self-directed IRA program is known as The Alternative IRA.
Do They Offer Precious Metals IRAs?
Unfortunately, AltoIRA does not offer precious metals IRAs since they are not a real IRA custodian. If looking for Gold IRAs, we recommend you get our FREE Gold IRA Guide.
AltoIRA Products and Services
Altoira offers traditional IRAs, SEP-IRAs and Roth IRAs, but they do not offer inherited IRAs or 401 (k)s. Though the company partners with other companies to facilitate investments, their investment options are still limited to only crypto, real estate and startups. You cannot invest in stocks, ETFs, bonds, futures or even mutual funds through their platform. Most of their alternative investments are reserved for accredited investors which implies that most of their services are targeted at wealthy individuals. Essentially, AltoIRA platform can highly limit the range of alternative assets you can invest in.
AltoIRA’s fee structure is the most unique of all IRA providers. You are charged based on the amount you invest. The higher the amount invested, the higher fee you will pay. For instance, an investment of up to $50, 000 will attract a $99 fee while investments over $50,000 will go as high as $199. This figure can go up to $499 per annum depending on the number of investments you have. Additionally, they charge account set up fee and annual reporting fee costing $49 each.
1033 Demonbreun St
Nashville, TN 37203
Eric Satz, Gary Hirsch
Overall Rating:(3 / 5)
Advantages of Choosing AltoIRA
Their digital platform is user-friendly and can be easily navigated by newbie investors. Their easy-to-use website gives you the flexibility to invest your retirement funds in alternative assets such as crypto and diversify your investment portfolio.
Great Customer Service
AltoIRA have a contact form on their website to easily contact support. Their support staff are known to quickly respond to customer inquiries.
Allows Private Deals Investments
With their platform, you can invest in your own private deals.
Disadvantages of Choosing AltoIRA
Limited Investment Options
As we’ve noted, AltoIRA offers limited investment options, which can be extremely disappointing. Despite partnering with third parties such as AngelList, AltoIRA limits you to crypto, startups and real estate. You will need a separate account to trade in ETFs, Bonds, Mutual Funds, Stocks etc.
We found that their IRA fees are higher than those of other competitors in the alternative assets industry. Aside from the exorbitant fees, their fee structure is also complicated and confusing.
Lack of Customer Reviews and Testimonials
Other than reviews on Trustpilot, there are no customer reviews or testimonials about AltoIRA on the BBB, Truslink or other online platforms. This is not good as it makes it difficult to determine their overall rating and reliability.
Not Accredited By The BBB
AltoIRA is neither accredited nor rated by the Better Business Bureau. A good rating on the BBB not only indicate that a company is legit, it also shows that they offer quality services. However, it is surprising that there isn’t a single AltoIRA customer review or rating on the BBB.
Customer Reviews and Ratings
There are no ratings or reviews of AltoIRA on the Better Business Bureau, Business Consumer Alliance or Trustlink. The only available reviews and ratings of this company are on Trustpilot, where they have an overall rating of 4.3 out of 5 stars from 634 customer reviews.
Should You Consider AltoIRA for Your Precious Metals IRA Rollover?
Based on the fact that AltoIRA lacks sufficient online reviews, it is evident that they are a relatively new company in the self-directed IRA industry. Their fee structure is also too complicated for the average investor and their investment options are limited. If you are looking for a great alternative assets investing company, you can check out our top recommendation in 2022 via the link below.
Is AltoIRA Legit?
Yes, AltoIRA is a legit company and not a scam since they are legally registered and have a physical address. They are based in Nashville, TN, and you can personally visit their premises if you wish.
AltoIRA is a brokerage offering a great digital platform for retirees wishing to diversify their investment portfolios with their retirement money. The company makes investing in alternative assets such as crypto and real estate extremely simple.
However, the company has limited investment options and may curtail your freedom to invest in certain assets. Another downside is that they lack a good online rating and their fees seem to be higher than those of other IRA providers.