This is a third party review of Advanta IRA. This due diligence report reviews over 100 different data points for Advanta IRA to provide you with a thorough due diligence report of the company to help you make a better decision. The public version provides only 20 of these data points. If you want to see the full version of this review, you can click the button below.
Advanta IRA
Introduction
Advanta IRA is composed of a group of elite self-directed IRA administrators serving clients nationwide. While maintaining separate entities, they work and market themselves together to offer clients exceptional experience and knowledge that is paramount in administrating self-directed IRAs.
Advanta IRA ensures all elements of the administration of client accounts are performed properly and in compliance with Internal Revenue Service rules and regulations. They file reports on your behalf, issue statements and help you follow contribution limits and permissible transaction guidelines. You are able to focus on the more important task of identifying promising investments to add to your portfolio.
Advanta IRA
Contact Information
Website: | |
|---|---|
Phone Number: | (800) 425-0653 |
Email: |
Offices:
Corporate Office: | 13191 Starkey Rd, Suite 9, Largo, FL 33773 |
Atlanta Office: | 3525 Piedmont Rd NE, Bldg. 8 Suite 101, Atlanta, GA 30305 |
Business Hours: | 8:30 AM - 5:00 PM EST (Monday - Thursday) & 8:30 - 4:00 (Friday) |
Advanta IRA
Company Details
Company Classification: | Administrator |
Date Established (under current name): | Not Available in Public Version |
Type of entity: | Not Available in Public Version |
Who provides custody for client assets: | Not Available in Public Version |
Company is registered in: | Not Available in Public Version |
Primary Line of Business: | Not Available in Public Version |
Other Lines of Business: | Not Available in Public Version |
Typical Client: | Not Available in Public Version |
Capable of working with Financial Advisory Firms | Not Available in Public Version |
Governmental Agency Oversight: | Not Available in Public Version |
Company's Last Audit: | Not Available in Public Version |
Summary of Assets Under Custody
Number of Active Clients: | Not Available in Public Version |
Number of Active accounts: | Not Available in Public Version |
Amount of assets company provides custody for: | Not Available in Public Version |
Self-Directed IRA Industry Affiliations
Self-Directed IRA industry affiliations (outside of this company): | Not Available in Public Version |
Ownership of industry related websites: | Not Available in Public Version |
Industry related company affiliations: | Not Available in Public Version |
Industry related non-profits: | Not Available in Public Version |
Industry related associations: | Not Available in Public Version |
Industry related board of trustee positions: | Not Available in Public Version |
Industry related publications: | Not Available in Public Version |
Advanta IRA
Fee Schedule
Account Setup Fee: | $50 |
Account Termination Fee: | 0.005% of teh account value up to a maximum of $250 |
Service Fee Classification: (flat, transaction-based, asset-based, hybrid) | Not Available in Public Version |
Company Fee Schedule: | Advanta IRA Fee Schedule* (as of 1/1/16) |
* Use the Advanta IRA Fee Calculator (click button below) to calculate your estimated fees based on the company's published fee schedule. This is a useful tool when comparing different custodians based on your cost to use them. Please note, if you have never before used a self-directed IRA custodian or administrator to administer your account, the fees will be different than most broker dealers that provide transactional services for stocks, bonds, and mutual funds.
Advanta IRA
Available Account Types
Type of Account: | Available at Advanta IRA |
|---|---|
Traditional IRA | Yes |
Roth IRA | Yes |
SEP IRA (or SERSEP) | Yes |
SIMPLE IRA | Yes |
Individual 401(k) | Yes |
Defined Contribution Plan (Group plan e.g. 401k, 403b 457) | No |
Defined Benefit Plan (pension) | No |
ESOP (Employee Stock Ownership Plan) | No |
Health Savings Account (HSA) | Yes |
Education IRA (ESA) (Coverdell Education Savings Account) | Yes |
Non-Qualified Account (Individual) | No |
Non-Qualified Account (Joint Tenants) | No |
Trust Account | No |
Partnership / Limited Partnership | No |
UTMA / UGMA Custodial Account | No |
C-corp, S-corp, or LLC account | No |
Other: | Record keeping account for DB or DC plans via a TPA |
Advanta IRA
List of Allowable Assets
Type of Asset | Allowed For Custody? |
|---|---|
Real Estate | Yes |
Private Placement (Reg A) | Yes |
Private Placement (Reg D) | Yes |
Private Placement (e.g. REIT, BDC, etc) | Yes |
Precious Metals | Yes |
Futures or Managed Futures | Yes |
Options or Hedges (non-publicly Traded) | Yes |
Bitcoin (or other virtual currency) | Yes |
FOREX | Yes |
Hedge Funds | Yes |
Limited Partnerships | Yes |
Single-member LLC (or Checkbook LLC) | Yes |
Multi-member LLC | Yes |
REITs | Yes |
Annuities (fixed or Variable) | No |
Viaticles or Life Settlements | No |
Insurance (other) | No |
Trust Deeds | Yes |
Tax Liens | Yes |
Private Lending (Unsecured Notes) | Yes |
Private Lending (Secured Notes) | Yes |
Private Company Stock | Yes |
Public Company Stock (or ETFs) | No |
Publicly Traded Options | No |
Church Bonds | Yes |
Mutual Funds or Closed-End Funds (CEF) | No |
Livestock, Horses, or similar animals | Yes |
Business Development Company (BDC) | No |
International Real Estate | Yes |
International Asset (other than real estate) | Yes |
Other | N/A |
Does Advanta IRA sub-custody certain assets at other firms: | Not Available in Public Version |
Does Advanta IRA provide sub custody services to other firms: | Not Available in Public Version |
Asset Specialization: | Not Available in Public Version |
Most popular assets held: | Not Available in Public Version |
Advanta IRA
Operations
Client account title format: | Not Available in Public Version |
Number of full-time employees: | Not Available in Public Version |
Process for setting up a new account:
Contact Advanta IRA for the appropriate forms (800-425-0653) or visit their website. A business development specialist will then assist in getting the forms completed properly and then requesting the funds from a current custodian to be moved to the new account.
Process for adding a new asset to client account:
Clients would work with their dedicated account manager to make sure all Advanta forms and investment documents are completed properly.
Procedures in place to protect client information:
Not Available in Public Version
Procedures for annual valuations:
Not Available in Public Version
Procedures for when an investment is suspected to be or is found to be fraudulent:
Not Available in Public Version
Advanta IRA
Technology
Does company participate in DTC system: | Not Available in Public Version |
Details of DTC: | Not Available in Public Version |
Does company accept Fed Funds wires: | Not Available in Public Version |
Fed Funds wire details: | Not Available in Public Version |
Client account access: | Not Available in Public Version |
Accounting: | Not Available in Public Version |
Account reporting: | Not Available in Public Version |
Trading investments: | Not Available in Public Version |
Safekeeping of client assets: | Not Available in Public Version |
Record keeping of client assets: | Not Available in Public Version |
Document storage: | Not Available in Public Version |
Compliance: | Not Available in Public Version |
Security and client information protection: | Not Available in Public Version |
Advanta IRA
Management Team
- Jack Callahan, Managing Partner
- Robert Koerner, Director of Operations
- Scott Maurer, Director of Business Development
- Mike Cornetet, Director of Marketing
Access Company Management Profiles
Glassdoor Ratings: (How company rates as an employer) (no profile available)
Advanta IRA
Client Protection
Insurance coverage limits for client assets: | Not Available in Public Version |
Coverage for uninvested cash balances: | Not Available in Public Version |
Errors & Omissions coverage (E&O): | Not Available in Public Version |
Additional or supplemental insurance coverage for client accounts: | Not Available in Public Version |
Have any owners or managing members of the company been charged with a felony, theft, or fraud: | Not Available in Public Version |
Has the company itself ever been investigated, charged, or convicted of a felony, fraud, theft, or industry related violation: | Not Available in Public Version |
Advanta IRA
Customer Satisfaction
Better Business Bureau: (click to review BBB overview) | |
Accredited Business since: | 01/31/2014 |
BBB Rating: | A+ |
Yelp Ratings: (click to review yelp ratings) | (No ratings profile available) |
Number of people on customer service team: | Not Available in Public Version |
Number of people on the "premier" or " institutional" customer service team: | Not Available in Public Version |
Number of people on the team that performs investment reviews for client assets: | Not Available in Public Version |
Average turnaround time for a client's new investment (assuming all documents required have been send in by client): | Not Available in Public Version |
Average turnaround time for setting up a new client account (assuming all documentation required has been sent in by client): | Not Available in Public Version |
Method of client account access: | Not Available in Public Version |
Is client education provided by company: | Ongoing live seminars and webinars on self-direction and they also bring in many guest speakers |
Is financial advice provided to client by company: | No |
Advanta IRA
Self Direct Your Retirement Transparency Index
The Self Direct Your Retirement Transparency Index is a metric we have developed to indicate how transparent self-directed IRA custodians and administrators are about their company. We value transparency as an ideal trait from a company that is providing custody or administration of your retirement accounts. It shows that the company has nothing to hide about their activities. You should consider this when you are making your choice.
The Self Direct Your Retirement Transparency Index is split into two parts. The first part is whether they voluntarily provided this information to us or whether we had to find this data on our own. Companies that provided us with the data were given the "company certified seal". If they did not participate, the seal does not show up in their profile. The second part of the index is how transparent the companies were in providing us with this information. A higher transparency number indicates a more transparent company. A number above 80% is ideal. There may be legitimate reasons companies do not want to share certain information, but you should consider this when making your decision.
Below the seal, we have listed the last time the company provided us with information. As long as the company has the certified seal, the information should be considered up-to-date. We contact the company periodically to ensure the information is accurate. If the company chooses not to verify the information, then we remove the seal. Transparency is only one factor you should consider when choosing a self directed IRA custodian or administrator.
Willingness to provide information
Not Available in Public Version
Information last updated:
Not Available in Public Version
Advanta IRA
Compared to Peers
If you want to compare different self-directed IRA custodians and administrators, we have created a resource to assist you in this process, The Ultimate Due Diligence Guide to Self Directed IRA Custodians and Administrators.
This resource will help save you time and will help simplify the process of setting up and maintaining your self directed IRA. It will allow you to compare different self directed IRA custodians and administrators via over 50+ data points. All of this information is not part of this page, but if you want to learn more about this resource, click the link below.
Advanta IRA
Company Spotlight - Industry Trends
We asked Advanta IRA to provide their individual insight into the following questions. This section is a bit more personal. The idea is that it will give you more insight into the company you are considering to provide custody of your investments.
What trends do you see in the self-directed IRA industry? | Not Available in Public Version |
What trends in asset types do you see at your firm? | Not Available in Public Version |
What is your firm's biggest concern about the self-directed IRA industry? | Not Available in Public Version |
Please list some additional concerns your firm has about the industry? | Not Available in Public Version |
Do you see any changes in regards to what investors want from custodians and administrators? | Not Available in Public Version |
What are your company's biggest challenges? | Not Available in Public Version |
What are the self-directed IRA industry's biggest challenges? | Not Available in Public Version |
What needs to be changed in the Self-Directed IRA industry? | Not Available in Public Version |
How could the Self-Directed IRA Industry improve? | Not Available in Public Version |
What is the biggest reason for the company's success? | Not Available in Public Version |
Company's view of important of the following items (ranked in order of importance)? | Not Available in Public Version |
Other relevant information: | Not Available in Public Version |
Advanta IRA
Conclusion
Not Available in Public Version
One of the biggest areas of frustration we see from self-directed IRA investors is when they realize they have chosen the wrong self-directed IRA custodian or administrator. It takes time to set up an account and fund your investment. The last thing you want to do when you are trying to fund your investment is to think about changing to a different custodian. Choose your Self-Directed IRA custodian or administrator wisely. If you put the time in now to find the right company, you will save time, money, and aggravation later. Read our Choosing a Self-Directed IRA Custodian report for more information.
Next Steps... Once you have located your ideal Self-Directed IRA Custodian or Administrator, you will be on your way to self-directing your retirement. If you decide that this process seems too complex and you need assistance or financial advice, feel free to contact us.Our firm specializes in providing financial advice pertaining to alternative investments held in self-directed IRAs and 401ks. We are fiduciaries and provide unbiased financial advice to our clients. Contact us if you want to learn more about our wealth management services.
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