IRA Financial Group Review 2022 | Fees, Complaints & More

The IRS advises the average American to save up for their later years. You can achieve financial security by securing your assets after retirement.

IRA Financial Group provides professional advice on how to grow your IRA assets more quickly than with conventional investments like stocks, bonds, or mutual funds.

This review analyzes the risks and benefits of working with IRA Financial Group.

What is IRA Financial Group?

Adam Bergman, a former tax and ERISA attorney who worked at some of the biggest law firms in the world, started IRA Financial Group in 2010. 

The business has its headquarters in Miami, Florida, and provides counseling on self-directed IRAs to assist retirees in assuming control of their money. The IRA Financial Group engages cutting-edge banking technology to guide customers in saving money in IRA, self-directed IRA, 401(k), or other retirement accounts.  Their professionals have assisted more than 21,000+ clients in investing $4.6 billion in alternative assets over the last twelve years.

Before we continue...

We have worked very hard to review, research and reveal the most important pieces of information that investors need to know before investing their money. We have been able to narrow a list down to the top 5 gold IRA companies.

I recommend you check the list before proceeding with any IRA transfer.

Quick answer: Goldco is our #1 recommendation for multiple reasons, including their A+ BBB rating and their special offer of up to $10,000 in free silver.

IRA Financial Group Reviews

  • BBB Rating: A
  • BBB Complaints: 4 complaints closed in last 3 years
  • Trustpilot ⭐⭐⭐⭐ (4.1/5) Based on 110 reviews
  • YouTube: 8.32K subscribers 
  • Google My Business: ⭐⭐⭐⭐⭐ (4.6/5) Ratings - Based on 219 reviews 

What does IRA Financial Group offer?

IRA Financial Group aims to broaden access to investment possibilities for their clients. Besides providing clients the chance to invest in gold and real estate, the firm offers traditional and non-traditional investment choices like cryptocurrencies, exclusive company stock, and peer-to-peer lending. 

The self-directed IRAs offered by the corporation permit the holding of the following investments:

Real Estate

According to the company, this investment offers a choice of recently built projects, land parcels, and mobile homes.

Mortgages and Peer-to-Peer Lending

Under this investment option, the corporation is free to use promissory notes and other forms of private financing.

Any combination of precious metals is an option for investment under this section. 

  •       Stock options provided
  •       Private arrangement
The business works with three kinds of IRAs, including:
  • Self-directed Roth IRA
  • Solo 401(k)
  • Self-directed IRAs. The account offers more investment alternatives than a self-directed IRA from a financial institution. This IRA needs custodial permission.
  • Self-directed IRA LLC. In this scenario, a limited liability company is set up for a particular purpose, and you, as the management, have the freedom to choose the investments.

The primary service provided by the business is IRAs. You can visit their website or speak with the company's staff to learn more about these investment choices.

How does IRA Financial Group work? 

IRA Financial Group guides you with the investments you want to make with a custodian-controlled IRA. They allow you to invest in conventional and non-conventional assets, such as real estate.

Three-step process:

  • Create an account: 

    You can choose your plan type on the IRA Financial app.

  • Deposit Money into your account: 

    You can use a direct contribution or a rollover from your current retirement account fund.

  • Start your investment : 

    This last step gives you a plethora of alternative asset investments to choose from, which are recognized by the IRS.

IRS-registered IRA Financial Group performs the role of "fund administrator." They help you create fresh IRA investments, maintain your retirement account. 

IRA Financial Group makes the process as simple and uncomplicated as possible. They use specific technology and banking systems.

They can describe your existing retirement account and make suggestions for your investments that might be more suitable for you than the ones you now have. Additionally, they offer advice on how to avoid paying taxes and save money for your retirement. 

A positive aspect of their business model is their complete fee transparency. Along with the services, the product fees are on the website.

Self-Directed IRAs

Self-directed IRAs are available through IRA Financial Group. There are two options: a Self-Directed IRA LLC or the traditional Self-Directed IRA.

Real estate, gold, and other tangible assets can be purchased using the self-directed IRA investment approach. You can withdraw money from this kind of retirement plan without paying a fee.

Self-directed IRAs are easy to set up with IRA Financial Group; most don't require a minimum commitment, and you don't have to adopt their investment approach. 

You may design a strategy for making investments that are profitable for you.

401(k)s

401(k)s is the self-directed IRA alternative from IRA Financial Group. You are free to invest in anything that the Internal Revenue Code permits. 

You can fund your account with around $60,000 under this arrangement. 

You can access several investment opportunities through the 401(k) plan. 

You may withdraw up to $50,000 for unanticipated costs or emergencies.

The self-directed and solo 401(k) plans are explained simply by IRA Financial Group. Then, they offer advice on which is best for you.

The business offers instructional materials to assist you in selecting investments for your retirement funds. You can contact the IRA Financial Group to discover more about this choice.

ROBS Option (Rollover as Business Start-up)

Another way to use your IRA to invest money is through the ROBS Solution from IRA Financial Group. For this option, you first need to create an "XYZ" Corporation.

This "XYZ" Corporation is a brand-new business you own completely. You pay the corporation with funds from your IRA or another retirement account before paying yourself. It is possible to generate tax-free dividends from these payments.

The ROBS solution enables you to invest in yourself or another person's small business without incurring any penalties when you withdraw funds from your retirement account and use them as a down payment on a company.

Rates and Fees

IRA Financial Group custodian costs run from $180 to $360 annually; these are taken out quarterly, and are less expensive with checkbook control. Every time an investor trades an asset, transaction costs range from $35 to $45 and depend on the asset class.

Self-Directed IRA: $360 annually / zero one-time fee

Self-Directed IRA LLC: $360 annually / $999 one-time fee.

401(k): $199 annually / $999 one-time fee

ROBS Solution: $100 monthly / $2,500 one-time fee.

Payment Terms

The best thing about IRA Financial Group is that it offers you check writing. The business provides customers with a range of affordable investing choices.

Customers are not charged when they open an IRA account. There is also no storage charge. The business levies yearly custodian costs, which are undoubtedly quite affordable. The annual custodial expenses are less expensive with checkbook control.

Pros & Cons 

Pros

  •  Excellent ratings on Facebook and BBB, translating to a 4.6 out of 5 average.
  •  Investing versatility allows you to participate in several markets, including real estate, cryptocurrencies, and precious metals.
  • Good customer service, even though some customers claim to have had negative experiences with the business.
  • Checkbook writing.
  • Affordable costs.
  • Unique offerings include IRS audit protection and client education services.
  • The organization manages more than $4.9 billion on behalf of more than 15,000 clients.

Cons

  • Out-of-date technology makes customer onboarding difficult due to the longer time it takes to open an account.
  • Company website contains scant information.
  • A few people have voiced issues about the business.
  • Few user reviews raise a question about the corporation even though it has been operating for more than 10 years.
  • Uncertain transparency, particularly when it comes to costs.

FAQs 

Is the IRA Financial Group Reliable?

The business is sincere and not a scam, notwithstanding a few hiccups here and there. Customers praise how the IRA Financial Group responds to unfavorable evaluations. With this mindset, the business's services might advance. Still, for a company that has been around for many years, 30 reviews are not particularly impressive.  

Many of its counterparts who have been in business for a comparable time length have more open charges and several client testimonials. The IRA Financial Group is legitimate, reliable, and not a con.

How does a Solo 401(k) work?

A Solo 401(k) plan, often referred to as a One-Participant 401(k), Individual 401(k), or Self-Employed 401(k), is a standard 401(k) created especially for self-employed individuals. Only if you have an owner-only firm or self-employment income may you use one. The contribution limits are one of the distinctions that make a Solo 401k different from other plans. 

You can use a contribution of up to $56,000 or $61,000 if you are older. Furthermore, you can invest in anything not prohibited by the IRS. But you must have "checkbook authority" over your Solo 401k money. Real estate, precious metals, and tax liens fall under this category. It's conceivably the best retirement plan choice available to self-employed people.

Does investing in Gold make sense?

The impact of alternative investments in light of the recent stock market decline has been the subject of significant discussion. Over the past two years, the cost of gold and other precious metals has stayed high. Gold's future seems more and more promising. 

Since gold is a hedge against inflation, it is a more desirable investment when prices keep rising. The value of gold increases as the cost of the US dollar decreases. More people are resorting to gold investments because of the latent inflationary anxieties that have returned due to the current state of the global financial system.

About the author Greg Lorenzo

Greg is a financial expert who has been advising his audience on loans for over 10 years. He has a wealth of knowledge and experience in the area, and he is passionate about helping people get the best possible deal on their loans. Greg is an expert in negotiating loans, and he has a proven track record of getting his clients the best possible terms. He is also a strong advocate for financial literacy, and he regularly gives workshops and seminars on the topic.

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