IRA Custodians: The Good, the Bad, and the Ugly
Aug 10, 2009
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By Elaine Floyd, CFP®
As assets in IRAs scale six or seven figures, mistakes can be painfully expensive. One error is to fail to vet the IRA custodianespecially if your client is moving to a more self-directed or esoteric account. Here are 18 questions to ask a prospective custodian, along with advice for helping your clients avoid taxes, fees, penalties, and loss of principal and earnings on IRA savings.