looking for rec?s re: IRA providers

[baseballhat_IHB]

i really respect the opinions on this blog and could use some guidance. any banks or institutions better or worse than the others? why?

 

[acpme_IHB]

if you use a provider like vanguard or fidelity you should have no worries.



here's what happens if your brokerage goes out of business:

http://www.mymoneyblog.com/archives/2007/11/e-trade-go-splat-basics-of-sipc-brokerage-insurance.html

 

[25inIrvine_IHB]

Fidelity/Vanguard gets my vote too

 

[morekaos_IHB]

Most brokerages are coverd by Securities Investors Protection Corp (SIPC)



'SIPC protects most types of securities in your account, including stocks, bonds and notes,

it does not protect against losses in portfolio value due to market fluctuations. SIPC does ensure the

delivery of your portfolio assets (up to stated limits)in the unlikely event of a forced liquidation of your

securities broker-dealer. Commodity and futuresaccounts are not protected. In addition, repurchase

and reverse repurchase transactions, as well as securities lending and borrowing transactions, may

not be protected."



This is the Securities industry version of FDIC insurance for banks. It is a healthy insurance agency and as long as your brokerage firm has it you are probably OK anywhere. Most big firms also buy supplimental insurance for up to $10,000,000.00. Your securities in the case of an IRA are always held in segregated accounts and are not in danger if the firm itself goes under...in other words worry more about the investments and your sdvisor than the firm.

 

[GrewUpInIrvine_IHB]

I like Fidelity and Janus. Fidelity has a good mix of low expense index funds (great for 529's).

 

[ipoplaya_IHB]

what the hell does this thread have to do with Irvine real estate? it's in the wrong forum...



that being said, Fidelity rocks for IRAs.

 

[awgee_IHB]

Optionxpress will send you stock certificates in your IRAs name, therefore supposedly not incurring tax liability. Can't get too much safer than a safe deposit box holding your stock certificates.