Assignment: Patron wanted to use both a Traditional and Roth IRA account in order to meet the minimum investment amount needed for a real estate fund.
Work Performed: Phone discussions and emails with patron, various custodians, and investment sponsor.
Outcome: Explained to patron and investment sponsor the requirements for using both a Traditional and Roth IRA to invest in the same entity. Because of the necessity to open two SDIRA accounts, worked with patron to find the most cost-effective custodian by utilizing SDIC’s database of published fee schedules.
Benefits:
Patron was able to achieve the investment minimum through coordination with SDIC and the investment sponsor,
By utilizing SDIC’s database, patron benefited from an estimated savings of $9,000 in combined custodial fees over the expected 20-year life of the IRA accounts.
Total Cost: $43