Last Updated on August 7, 2023 by George
- Advanta IRA is a self-directed IRA administrator that allows individuals to invest in a wide range of assets, including real estate, precious metals, and cryptocurrencies. The company offers personalized service for each client with a dedicated account manager and complies with IRS regulations for account security. Advanta IRA has earned positive testimonials for their professionalism and engagement.
- In addition to self-directed IRA administration, Advanta IRA offers annuities for retirement investing and checkbook control for cryptocurrency investments. These services provide a range of options for investors looking to diversify their portfolios. The sliding scale fee structure makes Advanta IRA affordable for individuals with smaller portfolios, with an annual fee of $295 per asset with a maximum of $1,850.
- While Advanta IRA has received negative feedback regarding fees from some customers like Joshua Jarvis, who received termination fees and annual fees on a closed account, the company’s Math-Based Global Rating of 4.2/5 and transparency about company data, including the disclosure of fees, make it a strong contender for individuals seeking alternative retirement investment options. It’s important to note that transparency is only one factor to consider when choosing a self-directed IRA custodian or administrator.
Advanta IRA Overview
Advanta IRA is a self-directed IRA custodian that provides unique retirement investing solutions to investors. The company was founded in 2004 and is headquartered in Largo, Florida. Their mission is to empower clients to take control of their retirement investments through self-direction and education.
Advanta IRA offers a range of self-directed retirement accounts, including:
- Traditional and Roth IRA
- SEP IRA
- Simple IRA
- Individual 401(k)
- Health Savings Account (HSA)
- Coverdell Education Savings Account (ESA)
Pros and Cons
✅ Advanta IRA provides real estate, private equity, precious metals, and more. Investors may diversify and perhaps earn more.
✅ Investors have checkbook control with Advanta IRA’s self-directed accounts. They may invest quickly without custodian clearance.
✅ Self-directed retirement account experts staff Advanta IRA’s customer assistance. They help investors quickly.
✅ Webinars, papers, and tutorials are available from the firm. These tools help investors understand and choose self-directed IRAs.
✅ Advanta IRA’s straightforward fee structure lets investors understand account management expenses. Clarity improves financial planning.
✅ Secure Online Platform: Advanta IRA’s secure online platform protects customers’ personal and financial data. Security gives account holders piece of mind.
❎ Self-directed accounts have greater costs than standard IRAs, however Advanta IRA has a clear pricing structure.
❎ Self-directed investing is more complicated than conventional investments. Investors must comprehend alternative asset risks and laws.
❎ Advanta IRA offers educational materials but not financial advice. Some investors choose a more hands-on financial service provider.
❎ Risk of Unfamiliar Investments: With so many investing possibilities, investors may be enticed to buy unfamiliar assets. If they lack investing understanding, this might increase risk.
❎ IRS Compliance Risks: IRS laws govern self-directed IRAs. Investors who violate these rules may be penalized and taxed.
❎ Self-directed IRAs lack FDIC insurance. The investments are uninsured, putting investors at risk.
Advanta IRA’s History and Mission
Advanta IRA is driven to offer tailored investment chances and remarkable service to their customers. Founded by Jack Callahan Jr. in 2003, they have been a leader in self-directed retirement accounts for over 18 years. Assets total a whopping $1.4 billion!
Advanta IRA wants to give clients the freedom to choose how they invest their retirement funds. They offer many investment options, from alternative investments such as real estate, private equity, and precious metals, to traditional assets like stocks and bonds. They offer individualized investment options to build a diversified retirement portfolio tailored to their financial goals.
What sets Advanta IRA apart is their fee structure. It adjusts based on account size, encouraging growth and not punishing those with small accounts. They provide educational resources such as seminars on industry trends and free consultations with certified financial professionals to support their clients’ financial literacy.
With its history and mission of customer freedom and education, Advanta IRA is an excellent choice for anyone seeking a self-directed retirement account.
Self-Directed Retirement Accounts
Self-directed retirement accounts are becoming popular with those who want to manage their own investments. Unlike traditional retirement accounts, these give more investment choices. Advanta IRA is a company that gives self-directed IRA administrators, annuities, checkbook control and cryptocurrency investments.
Advanta IRA stands out for giving alternative assets like real estate, precious metals and private lending. They help clients to setup and manage these accounts. This helps them to have a diversified portfolio and earn better returns.
Advanta IRA also gives checkbook control. This means account holders can make investments directly without needing admin approval. They don’t need to pay extra for this. Annuities are also offered for retirement income. They also provide cryptocurrency investments like Bitcoin and Ethereum.
If you’re looking for more control and unique investments beyond the stock market, Advanta IRA could be the answer. Their sliding scale fee structure makes it easy to get the best from your retirement investments.
Advanta IRA Services and Products
Advanta IRA provides various self-directed IRA products and services for individuals to manage their retirement investments. This section will examine their offerings and features, including:
- The advantages of self-directed IRA administrators
- Retirement investing annuities
- Checkbook control
- Cryptocurrency investments
Additionally, they have a fee structure that is based on a sliding scale system.
Self-Directed IRA Administrators
Advanta IRA’s self-directed IRA administrators offer clients the chance to take control of their retirement investments. They have a wide array of investment options, from real estate to private equity and even cryptocurrency. Clients can invest in whatever they choose, while Advanta IRA’s administrators will be there to help with setup and ongoing support.
Advanta IRA custodians manage client funds and provide checkbook control, enabling direct investments from the account. In addition, Advanta IRA’s tiered fee structure allows clients to save more by paying lower fees as their account balance increases.
All in all, Advanta IRA’s personalized service, varied investment options, and special fee structure make them a dependable partner for those seeking more authority over their retirement savings.
Annuities for Retirement Investing
Advanta IRA provides annuities as one of their retirement investment options, to offer financial stability. Annuities give a fixed income for a certain period, like a lifetime or several years, making them attractive, especially for those who don’t want much risk, and want steady income during retirement.
The company offers different kinds of annuities. Immediate annuities require a lump sum to get payments right away, while deferred annuities let clients accumulate funds before collecting payments. Advanta IRA’s team helps clients pick the best annuity that suits their financial goals.
Also, Advanta IRA offers IRA ownership of annuities. This allows clients to keep control over their annuities, and take advantage of the tax benefits that come with such accounts.
For those who want more asset control, Advanta IRA offers checkbook control. With this, IRA investors can invest in assets like real estate, private equity placements, and cryptocurrency. Clients have complete control of their investment choices and risk, plus expert help with retirement planning, including administrative compliance. This gives clients peace of mind as they work towards retirement.
Checkbook Control and Cryptocurrency Investments
Advanta IRA provides its clients with checkbook control – the ability to write checks with the assets and investments in their IRA accounts. This simplifies transactions, reduces fees, and gives them more flexibility. Plus, Advanta IRA even supports cryptocurrency investments, such as Bitcoin, Litecoin, and Ethereum!
The checkbook control features are:
- Control: Check-writing ability
- Flexibility: Reduced transaction fees
- Convenience: Less third-party processing time
Advanta IRA also offers other alternative options, like real estate investing, private equity investing, and precious metals investing.
Bear in mind that Advanta IRA charges a sliding scale fee structure. The higher the account value, the lower the percentage rate charged for services. Although some people find Advanta IRA’s staff knowledgeable and helpful, others criticize the high fees and limited customer service. As one customer said, the fee structure is like a treadmill – the more you run, the more you pay.
Overall, Advanta IRA offers smart investment avenues – especially with checkbook control and cryptocurrency investments – to help clients have complete control over their assets and investments.
Advanta IRA Testimonials
Advanta IRA is a self-directed IRA administrator that has provided financial services for over 17 years. In this section, they will explore Advanta IRA Testimonials, which are a way for potential customers to evaluate the credibility of Advanta IRA’s services. This section includes both positive and negative testimonials that showcase Advanta IRA’s professionalism, proficiency, and engagement. It also highlights areas for improvement, such as customer service fees.
Positive Testimonials: Professionalism, Proficiency, and Engagement
Advanta IRA has earned great accolades for its professionalism, efficiency, and commitment. Clients are dazzled by the firm’s dedication to upholding high standards of excellence.
Many customers portray Advanta IRA as being incredibly professional in their handling of self-directed retirement accounts. Clients admire the expertise displayed by the company’s staff. They feel they can trust the team to give them true and dependable knowledge about their investments. Connecting with clients is very crucial at Advanta IRA, as customer interactions are always prioritized. The firm is famed for its outstanding customer service, which makes investing through self-directed retirement plans much simpler.
Apart from being praised for its professionalism, proficiency, and engagement, Advanta IRA also stands out with its open fee structure. Through a sliding scale fee system, clients only pay based on the size of their account balance. This approach avoids concealed fees and guarantees that clients are only charged for the services they get.
Overall, customers have been extremely appreciative of Advanta IRA’s dedication to giving first-rate services while keeping a straightforward fee structure. These aspects make it easier for people to invest wisely in their future using self-directed retirement accounts administered by Advanta IRA.
Negative Testimonial: Feevanta and Limited Customer Service
Advanta IRA recently got a bad review from a client who complained about “Feevanta and Limited Customer Service“. This implies they were displeased with the high fees and poor customer service they experienced.
Advanta IRA works on a Sliding Scale Fee Structure. This charges fees in relation to the account’s value, which could cost more for people with larger accounts. A few clients have not been pleased with the company’s customer service either.
Financial service companies like Advanta IRA need to prioritize clear and fair prices and great customer service to keep clients’ trust. Otherwise, clients may not trust the organization and choose other options.
Advanta IRA has gotten good reviews for their professional attitude and knowledge in self-directed retirement accounts. Negative feedback like this shows the importance of improving pricing transparency and customer service.
Self Direct Your Retirement Transparency Index
Did you know that the number of self-directed retirement accounts has been increasing in recent years? In this section, they will examine Advanta IRA Review’s Self-Direct Your Retirement Transparency Index. They will delve into the significance of transparency in retirement accounts, the metrics utilized to assess transparency, and Advanta IRA’s ranking in this transparency index, along with a breakdown of their fees. Prepare to explore the world of self-directed retirement accounts further and find out how to make informed financial decisions for your future.
Transparency Importance and Metrics Used
Transparency is important in investments. At Advanta IRA, they understand this. They’ve put metrics in place to make sure their operations are transparent. Their fees are visible on their website and there are no hidden fees. Their investors have 24/7 access to their accounts online. They can keep an eye on all transactions.
Advanta IRA also keeps its investors informed about regulatory changes related to self-directed IRAs. This way, they can make educated decisions. Investing with Advanta IRA means reasonable fees and top-notch transparency. Don’t miss out!
Advanta IRA Ranking and Fees
Advanta IRA ranks #3 in the Self-Directed IRA administrator world. They offer competitive fees based on their Transparency Index. Account initiation fees range from $50 to $395. Their annual administration fee is $295, which is lower than others. Transactional fees are either fixed or sliding scale, so costs reduce with higher account balances. Investment fees vary by investment type, but they have variable fees, so clients can customize investments.
Advanta IRA has unique investment options, such as checkbook control and even cryptocurrency. For those seeking more control over retirement funds, this is an attractive choice. However, fees may differ by account and investment type, so research is necessary.
Final Thought – Advanta IRA Review
Advanta IRA offers a great variety of self-directed IRA options. These accounts enable investing in many kinds of assets, such as real estate, private equity, and precious metals. Advanta IRA is a great pick for investors wishing to have more control and diversity in their retirement savings. The platform is user-friendly, and customers are provided with personal customer service and educational materials. This allows investors to make informed decisions and have full control over their self-directed IRAs.
Still, self-directed IRAs require a certain level of knowledge, so one should consider the benefits and risks of investment choices before making any decisions. One investor shared their positive experience with Advanta IRA. They commended the customer service team, praising their responsiveness and support. The company clearly emphasizes personal service and support to its customers.
In summary, Advanta IRA provides the tools and resources needed to manage retirement accounts and invest in the assets of choice. Investors can be assured that Advanta IRA will take excellent care of their retirement savings.
Some Facts About Advanta IRA Review:
✅ Advanta IRA offers personalized, one-on-one service for self-directed IRAs, including checkbook control and the opportunity to invest in cryptocurrencies, and has a Math-Based Global Rating of 4.2/5. They have a robust education program and a staff that includes certified financial planners and legal experts. (Source: bmogamviewpoints.com, sophisticatedinvestor.com)
✅ They have over $2.3 billion currently under management and provide opportunities for alternative investments, including cryptocurrencies. (Source: bmogamviewpoints.com, advantaira.com)
✅ Advanta IRA has a sliding scale fee structure and charges an annual fee of $295 per asset, with a maximum of $1,850. (Source: sophisticatedinvestor.com)
✅ Clients have had superior experiences with Advanta IRA compared to other service providers. The company is run with excellence and high standards. (Source: advantaira.com)
Joshua Jarvis had a negative experience with Advanta IRA, mentioning difficulty getting help with account issues. He was charged a termination fee of $32 and another annual fee on a closed account. (Source: reviews.birdeye.com)
FAQs About Advanta IRA Review
What is Advanta IRA?
Advanta IRA is a self-directed IRA administrator that offers retirement planning services. They provide opportunities for alternative investments, including real estate and cryptocurrencies. They have a staff of certified financial planners and legal experts.
How does Advanta IRA differ from other IRA providers?
Advanta IRA offers personalized, one-on-one service for self-directed IRAs. They have a dedicated account manager for each client and offer checkbook control. They have a sliding scale fee structure and charge an annual fee of $295 per asset, with a maximum of $1,850. They also offer 401(k)s, Solo 401(k)s, Roth IRAs, SIMPLE IRAs, and Traditional IRAs.
What are Advanta IRA’s fees?
Advanta IRA has a sliding scale fee structure and charges an annual fee of $295 per asset, with a maximum of $1,850.
What do customer reviews say about Advanta IRA?
Customers praise Advanta IRA for their professionalism, responsiveness, and accommodating nature. They have had superior experiences with Advanta IRA compared to other service providers. However, one customer, Joshua Jarvis, had a negative experience with Advanta IRA. He was charged a termination fee and another annual fee on a closed account, and advises people to stay away from Advanta IRA due to their nickel and dime fees.
What does the Self-Direct Your Retirement Transparency Index say about Advanta IRA?
The Self-Direct Your Retirement Transparency Index is split into two parts: whether the company voluntarily provided information or not, and how transparent they were in providing the information. Companies that provided data were given the “company certified seal”. Advanta IRA has the company certified seal, indicating a high level of transparency. The index is only one factor to consider when choosing a self-directed IRA custodian or administrator.
Would you recommend using Advanta IRA for self-directed retirement accounts?
Based on the positive customer reviews and the company’s high transparency rating, we highly recommend considering Advanta IRA for self-directed retirement accounts. However, it’s important to weigh the fees and other cons before making a decision.