Welcome to my New Direction IRA review!
Many people are looking for the right IRA company and have to sort through a number of different companies to find the right one.
Maybe you've signed up with New Direction IRA, but unsure if they're the right company for your needs.
Luckily for you, I've gathered information that'll help you decide whether they're the right company for you or not.
Find out more by reading this full review!
New Direction IRA Quick Summary
- Name: New Direction Trust Company
- Website: https://ndtco.com
- Founder: Bill Humphrey and Catherine Wynne
- Minimum order: $5,000
- Rating: 4.7/5
What Is New Direction IRA?
Bill Humphrey and Catherine Wynne are credited with establishing the business together; however, Catherine Wynne currently holds the position of president, while Bill Humphrey is the CEO of New Direction IRA.
Since it first opened its doors, the company has amassed assets of more than $600 million, and it has served over 8,000 customers.
Self-directed IRAs are the flagship service that this business provides to its customers for investment purposes; however, in addition to these IRAs, the company also sells real estate and precious metals.
In this way, the company provides its customers with a number of different opportunities to expand their wealth based on the retirement accounts they maintain in preparation for the future.
It is also important to point out that this corporation provides its investors with an online service known as myDirection, which adds to the level of convenience they experience as investors.
This service acts as an access portal for new customers who set up an individual retirement account (IRA) to invest in precious metals.
Plus, it makes it possible for investors to check transaction history without any effort and pay real estate expenses online, in addition to providing a host of other remarkable benefits.
How Do You Reach New Direction IRA?
You may easily get in touch with New Direction Trust Company by calling them. The listed phone number, which is 877.742.1270, can be found in the upper right-hand corner of the company's homepage.
Additionally, customers can send an email to the company with a question by using the contact form, and those who are interested can even arrange an appointment for a consultation in advance.
For now, it is not possible to have a live conversation with a company representative through a chat feature. But since the vast majority of IRA providers do not provide this service, this should not be a significant barrier for financial planners to overcome. However, I think it is a feature that would be beneficial to have.
New Direction IRA Products And Services
New Direction IRA offers a wide variety of investment opportunities to its customers.
Those who aren't well-versed in this field of investing can get the facts they need from this firm before committing to any resources.
Whenever the odds are stacked against you, it's best to play it safe. If you don't know enough about investing, you shouldn't even try to get started.
That's why New Direction IRA makes every effort to prepare new investors for this kind of thing with information and guidance.
Self-directed IRA holders who want to invest in private equity can do it on their own or hire New Direction to manage their investments.
The New Direction Trust Company also provides clients with the option of opening a Roth IRA, which is something to keep in mind. In other words, savers get to exercise discretion over their tax-deferred investments.
However, it is up to the individual to decide whether or not they would rather invest their money elsewhere.
The company's primary focus is on facilitating the highest potential returns for its clients by way of education and guidance.
Furthermore, you can diversify your investing portfolio with the following accounts in addition to a Roth IRA:
- Inherited IRA
- Traditional IRA
- SEP IRA
- SIMPLE IRA
In addition to the standard trust accounts, the New Direction Trust Company also facilitates the following:
- Solo 401(K)
- Coverdell Education Savings Account (ESA)
- Health Savings Account (HSA)
Annual Administrative Fees
The first category of fees charged by New Direction Trust Company is referred to as annual administrative fees. Discount brokerage accounts, precious metals, publicly traded securities, and digital currencies are all included in this category.
Again, the precise cost that is charged to each investor is dependent on the total value of their account. Once an account's worth climbs beyond $100,000, in most cases, the account will be subject to higher fees.
If the total value of your precious metals account is less than $100,000, the annual administration fee is merely a fixed rate of $95. A trading account with a value of more than $100,000 that includes precious metals will incur a cost of $150 per year to participate in online trading.
The minimum charge for fees associated with similarly valued accounts in the digital currency base is $250. This is perhaps more attributable to the volatile nature of the market for digital currencies as well as the unpredictability of the market. The annual cost for trading securities that are available to the public is $95.
When compared to the yearly fees charged by other IRA providers, each of these annual payments is reasonable. As you can see, the price structure is partially comprised of an annual flat fee and partly depends on the amount of the account.
Ratings And Reviews Of New Direction IRA
What I Like About New Direction IRA
- Longevity in the industry
Since 2004, the New Direction Trust Company has been a major player in the financial industry. Its personnel informs potential customers about the company and its offerings. When it comes to maximizing investor education and satisfaction, New Direction IRA deserves a lot of respect.
- Simple and quick process
Customers who don't want to wait around a lot after a deal has been made won't have to because all transactions are finalized promptly. On-time funding is guaranteed, and customers may rest easy once their payments have been processed.
What I Don't Like About New Direction IRA
- Lack of essential business details
Clients are given a packet of information to read and see details about the process before putting their money into the system. However, there is a lack of information concerning the company's origins and development on the website.
- Other websites don't seem to trust it
As of 2022, neither BBB nor other credible sources like BCA or Trustlink have offered ratings or up-to-date reviews.
Is New Direction IRA A Scam?
New Direction IRA is NOT A SCAM. This company's forte is advising customers on how to best make use of self-directed IRAs.
The benefits of working with this firm include fast transactions and access to useful resources regarding self-directed IRAs at no cost.
But there are a few drawbacks to think about before making any major financial decisions; reviews and ratings from former customers and credible organizations are lacking.
In this scenario, the lack of testimonials from satisfied customers is a major drawback when selecting an investing organization.
Although I've concluded that this company isn't a scam, I still wouldn't recommend it.
This may be a legit company, but I don't think it's the best out there. Surely, there are much better options for you.
I'd suggest Augusta Precious Metals. This company is a trusted name in the distribution of precious metals IRAs, especially gold and silver, for retirement and portfolio diversification.
And to show you that Augusta cares for their customer, they're giving away a free IRA guide for you. Claim yours by clicking the button below!
Thank you for reading my review and I hope you learned something for me!