Independent IRA Custodians
As you research independent IRA custodians, you’ll find these firms typically charge an initial set-up fee of about $50 and an annual administrative charge—usually ½ or 1 percent of your account—or charge you a set amount on a flat-rate fee basis. Flat-rate fees can range from $60 to $1,100 or more depending on the company you choose and the size of your assets.
Pick an independent IRA custodian carefully and be sure to research fees before opening an account. A fee that is just ½ or 1 percent may sound low when you’re just starting to build your IRA, but will be a lot more when your IRA has grown to $100,000 or more. For that reason, flat-fee custodians are usually better to work with over the long term.
Three major ...