Should your retirement funds be invested in New Direction IRA? Perhaps you have encountered conflicting reviews and ratings and are unable to decide. Then, consider this comprehensive New Direction IRA review in order to make an informed investment decision.
What Is New Direction IRA?
New Direction IRA is a self-directed IRA provider and administrator based in Louisville, Colorado. The company has acquired immense popularity among investors and asset providers as a result of its more than two decades in business and highly experienced executive team. The company has heavily invested in cutting-edge technology and customer education to assist investors and facilitate self-direction.
New Direction IRA Review Summary
Location:
Louisville, Colorado
Address:
1070 W Century Dr Ste 101
Louisville, CO 80027-1657
Year Founded:
2003
Management:
William Humphrey (CEO)
Website:
www.ndtco.com
Rating:
[3/5]
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New Direction IRA Products & Services
New Direction IRA affords you numerous opportunities to invest and take charge of your future finances. Eight account categories are available, including Roth IRA, Traditional IRA, SIMPLE IRA, SEP IRA, Inheritance IRAs, 401(k), Education Savings Account, and Health Savings Account. With these accounts, you can invest in alternative assets including real estate, precious metals, private lending, checkbook IRAs, and private equity. In addition, they engage in customer education by continuously hosting webinars and developing educational tools to empower and direct investors.
How Does It Work?
Similar to other self-directed IRA providers, the company predominantly offers online services. Before you begin investing, you can obtain their free investing guides for crucial information and insight. Once you’ve chosen your optimal investment options, you can proceed with the following steps:
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Open Your Account
After selecting an account that aligns with your investment objectives, proceed to complete the online application form on the New Direction IRA website. This procedure will take no longer than 15 minutes.
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Fund Your Account
Finance your self-directed account with a transfer, rollover, or contribution.
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Choose Your Investments
Choose the alternative asset classes in which you will invest. If you encounter any difficulties selecting your assets, the knowledgeable personnel at New Direction IRA will be available to assist you.
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Manage Your Account
After account setup, you may use their online platform to administer your account.
New Direction IRA Fee Schedule
New Direction IRA charges sliding scale fees which is a disadvantage in our view as it imposes higher fees on investors with larger accounts. For instance, the account setup fee is $50, while the annual fee is $75 for accounts under $100, 000 and $125 for accounts over $100, 000. Not to mention yearly storage fees which vary depending on the storage provider you choose.
Pros of New Direction IRA
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Experienced Executive Team
The company is managed by a team of highly accomplished financial advisers, accountants, economists, and lawyers. It boasts one of the most experienced executive teams in the industry.
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Many Account Options
New Direction IRA offers many account options and unlimited investment opportunities to its clients.
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Provides Free Client Education
Free client education is continually provided through webinars, investment guides, and other educational tools. Their education not only empowers but also equips investors with crucial knowledge to make their retirement investments a reality.
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Great Website
They’ve embraced digital innovation and this is demonstrated by their modern website which has streamlined self-direction and made it even more intuitive.
Cons of New Direction IRA
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Shipping Delays
We’ve found a considerable number of negative customer reviews and complaints condemning shipping delays by the company.
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Sliding Scale Fees
As we’ve noted, New Direction IRA charges sliding scale fees known to be quite expensive, particularly for investors with larger accounts.
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New Direction IRA Reviews, Accreditation & Ratings
Based on 162 customer evaluations, the Better Business Bureau has awarded New Direction IRA a rating of 4.97 out of 5 stars. Nonetheless, the BBB has resolved 19 consumer complaints regarding the company in the past three years.
According to 42 customer evaluations on Yelp, New Direction IRA has earned a rating of 2 out of 5 stars. And surprisingly, the company lacks customer reviews, ratings, and complaints on other key review platforms, including Trustpilot, Trustlink, and the Business Consumer Alliance.
Is New Direction IRA Legit or a Scam?
Based on the positive reviews and high ratings posted on the BBB and other online resources, it is evident that New Direction IRA is not a scam.
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New Direction IRA Reviews Conclusion
New Direction IRA is a self-directed IRA custodian based in Louisville, Colorado. They are one of the nation’s leading IRA providers, administered by a team of seasoned executives. New Direction IRA is renowned for utilizing modern technology to provide investors with cutting-edge education and limitless investment opportunities.
On the other hand, New Direction IRA has been accused of shipping delays as well as excessive sliding scale fees.
