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The IRA Club IRAs Review


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
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With over 15 years of industry experience, the Chicago-based IRA Club seeks to help customers open and maintain self-directed IRA accounts while investing in alternative assets. Offering a flat free pricing structure, The IRA Club offers a straightforward process of investing in assets such as real estate and crypto as a way of diversifying your retirement funds.
 
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How is The IRA Club rated?

Breakdown

4.5/5
IRA Types
4.5/5
Investment Options
4.5/5
Account Features
4.5/5
Fees and Discounts
4.5/5
Reputation & Customer Support

Overall Rating: 4.4 / 5 (Excellent)

As a Self-Directed IRA Account administrator, The IRA Club has a simple process for customers who want to open an instrument and manage their retirement funds and investments.

Customers can contact The IRA Club to resolve any questions they might have regarding self-directed IRA accounts and choose the type of IRA they want to open. A service professional then walks them through the application process.

Once open, customers need to fund the account by transferring from their current IRA account, completing a rollover from an already existing employer plan (such as a 401k, 403b, or TSP), or make a direct contribution.

Finally, customers select the asset they wish to invest in. Personal account managers can help you through the investment process but they cannot choose or advise a product for you.

The IRA Club Account Features

Account Features - 4.5 / 5

There are five main types of self-directed IRAs to choose from:

• Traditional IRA
• Roth IRA
• Simplified Employee Pension (SEP) IRA
• Savings Incentive Match Plan for Employees (SIMPLE) IRA
• Health Savings Account (HSA)

As for investment opportunities, the self-directed accounts offered by The IRA Club are designed to invest in non-traditional, alternative assets. Therefore, the options displayed on its website are not the usual stocks, bonds, and mutual funds you would generally find.

Instead, The IRA Club presents a varied selection of investment categories that include agriculture land, cannabis, clean energy, lending, mobile homes, multi-strategy, oil and gas, precious metals, private equity, real estate, tech, and crypto.
Types of IRAs
Roth IRA
Traditional IRA
SEP IRA
SIMPLE IRA
Account Minimum
$500
Minimum Balance Requirement
$500
Mobile App
No

Investment Options

Mutual Funds
Index Funds
Stocks
Bonds
Money Market Accounts
CDs
ETFs
Options

Advisors

The IRA Club offers what it calls “white-glove concierge service” which includes a personal account manager that can handle the customer’s needs at any time and helps keep the self-directed IRA account compliant with IRS regulations. Account managers can offer other services to assist customers with their account, though they may carry additional costs.

Online Experience

The company’s website features an extensive resource center with videos, guides, and FAQs that can help investors in their self-directed IRA journey.

Another online feature is its Investor’s Row, an educational platform that guides customers in understanding the different assets available for investment.

The IRA Club Fees and Penalties

Fees and Discounts - 4.5 / 5

There are several fees and charges that can be incurred in an IRA Club product, including standard ones such as a one-time setup fee of $20 and an annual membership fee of $175 per IRA. Annual fees can also be applied to assets ($125) and domestic real estate ($165).

Customers are also charged for purchasing or selling assets, including:

$75 for the purchase or sale of domestic real estate
$295 for the purchase or sale or offshore real estate
$50 for the purchase or sale of other assets

Wire transfers, ACH payments, and checks also carry fees.

If customers do not maintain the minimum required balance of $500 during the renewal period, a $100 low balance penalty is applied. If a customer decides to close their account, a $200 termination fee is levied.

All of these fees are deducted directly from each IRA account.

The IRA Club Financial Strength and Reputation

Reputation & Customer Support - 4.5 / 5

The company is an accredited business with the BBB and has an A+ rating. However, it has no registered customer reviews or complaints even though it’s been in business for over 15 years.

Likewise, it does not have a TrustPilot score or customer reviews on the website.

Although The IRA Club is not a member of the Federal Deposit Insurance Corporation, it does state on its website that “IRA cash is FDIC insured”.

Customer support is available via email or phone during regular business hours.
Year Founded
2006
FDIC Member
No
BBB Rating
A+
Date Collected
2021-08-30
Live Help 24/7
No
Customer Support Hours
Monday - Friday 9:00 a.m. - 5:00 p.m. Central

Contact Methods

Phone
Email
Chat
Social Media
Text

Company Profile

Full Name
The IRA Club IRAs
Company Website
https://www.iraclub.org/
Mailing Address
PO Box A3535, Chicago, IL, 60603

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Our Partner
Transparent pricing structure with flat fees
  • Self-Directed IRAs that let you invest in a variety of alternative assets such as real estate
  • Concierge service to make sure the account is IRS-compliant
  • Vast resource center and Investor’s Row educational platform
  • Accredited business with an A+ rating from the Better Business Bureau
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