When searching for a legitimate self-directed IRA custodian, select a custodian that is experienced, knowledgeable and transparent about fees, says Equity Trust. Before selecting a custodian, find out exactly when and how the custodian issues bills.
Avoid self-directed IRA custodians that are reluctant to discuss fees, advises Equity Trust. Ask for a list of all administrative charges you may face as you use your self-directed IRA. Find out if prospective custodians maintain FDIC insurance. Legitimate self-directed IRA custodians should have references and verifiable financial resources. IRA custodians must excel at delivering detailed information on self-directed IRAs, although these professionals do not give clients investment advice.