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Building your team of professionals

Estimated reading time: 2 minutes, 3 seconds

Kingdom Trust regularly suggests that you consult with your team of professionals, especially when it involves Self-Directed IRA investing. The right team of professionals should help you perform necessary due diligence efforts, complete complex legal paperwork, avoid tax penalties, and more. No matter the asset, Kingdom Trust strongly encourages you consult tax, legal and accounting professionals when considering any type of investment.

Here are some tips for building your team of professionals and ensuring you have the right group to help in any stage of your investment and retirement process.

The first move in building a team of professionals is to ask around. Check with personal and professional associates, especially those holding similar retirement plans as you. Find out who they use for accounting, legal and investment-related questions and work. If a friend is confident in his or her tax advisor, CPA or lawyer, then some of the initial legwork and research might be taken care of for you.

That initial legwork and research includes performing due diligence on any prospective professional. Conduct Internet searches into his or her background, experience and digital footprint. Find out what continuing education and research he or she has completed, recent articles he or she as written, and so on. This helps identify a professional’s credibility, credentials and knowledge base, which will help you make better decisions on your team.

Once you narrow down a professional and meet with him or her, you should request the professional verify his or her credentials. Ask the right questions to confirm his or her knowledge and experience with retirement accounts—and Self-Directed IRA rules in particular. Determine whether the professional is qualified to represent you in an audit or appeal capacity, for instance, should the need ever arise.

Whether you invest in traditional assets or have more unique investment interests, ensure that you find the right professional for your needs. If you’re a Self-Directed IRA holder, you must perform the necessary due diligence and find the team of professionals best-suited to assist you in meeting your retirement goals and staying within IRS rules.

Of course, selecting the right custodian is also critical. Not only are all qualified accounts required by law to have a custodian, but you need to determine what custodian best fits your investing needs. Kingdom Trust is well-versed in Self-Directed IRA rules and regulations and understands alternative asset investing, and we’d be happy to walk you through the process of opening a Kingdom Trust Self-Directed IRA. Simply contact us today to get started.

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