Today we’ll be looking at Udirect IRA services LLC. What is Udirect IRA services How does it work? What are the products and services it offers? What are the IRAs offered and how much are the IRA fees? And a lot more details you’ll discover in this review!
Company: Udirect IRA Services LLC
Owner: Kaaren Hall
Who is it for: People looking to invest in a self-directed IRA.
Overall rating: (4 / 5)
Important to mention before we go into more details of this review:
We always strongly recommend doing your research online before you choose a company to invest with. There are so many reviews online of clients being ripped off and scammed. The most common way people are getting scammed is through so-called “hidden-fees” so please investigate thoroughly before you make your decision.
With that being said, let´s continue with the review on Udirect IRA Services!
What is Udirect IRA services?
Based out of Tustin, CA, Udirect Ira is a self-directed IRA third-party administrator and self-directed IRA LLC, facilitator. It was founded by Kareen Hall in the summer of 2009 and launched in September of that year. Udirect IRA has over 1200 clients and over 100 million dollars of assets under custody.
This company is clearly 100% legit. Apart from several testimonials and a real physical address, the company’s owner Kareen Hall sits on the Board of Directors for the Retirement Industry Trust Association.
She also hosts several webinars and live events. You can also listen to udirect ira services at BlogTalkRadio
How does it work?
uDirect IRA Services provides Self-Directed retirement accounts. A self-directed IRA enables its holder to make the investments choices and choose from a wide range of products and services which we’ll mention later in the review. The user also makes all the buy and sell decisions.
In order to open a self-directed IRA, you can contact udirect IRA through calling them at 866-538-3539 and get assistance from one of their IRA account specialists or you can upload your documents through the uDirect Secure Document Upload Portal
So, what are these Products and services offered?
Udirect IRA allows you to invest in:
- Residential real estate, including: apartments, single family homes, and duplexes
- Commercial real estate
- Undeveloped or raw land
- Managed Futures
- REITs (Real Estate Investment Trusts)
- Real estate notes (mortgages and deeds of trusts)
- Promissory notes
- Private limited partnerships, limited liability companies, and C corporations
- Tax lien certificates
- Oil and gas investments
- Private stock offerings, private placements
- Judgments/structured settlements
- Gold bullion
- Car paper
- Factoring investments
- Accounts receivable
- Equipment leasing
But some investments are prohibited with a self-directed IRA, such as:
- collectibles (eg, coin collections);
- S-Corp capital stock; and
- insurance contracts.
These are the IRAs available at Udirect IRA:
|· Traditional IRA|
|· Roth IRA|
|· SEP IRA
· (or SERSEP)
|· SIMPLE IRA|
|· Individual 401(k)|
Udirect IRA Services is considered among the cheapest self-directed IRA companies around. The setup fee is $50, the annual fee is $275 and the minimum account balance is $325.
Here is a screenshot of a few other fees shown on the udirect IRA website:
There is a company that got lower fees and actually only offer a one time flat fee.
Can you store with the company?
Yes, you can store with udirect IRA, here is a screenshot of the Storage fees:
Can you get the metals delivered home?
Yes, you can get the metals sent to you.
But this process will be subject to handling fees as explained in this exact excerpt from the udirect Ira website:
Requests to distribute metals from your account, in-kind (i.e. send you the metals), will be subject to a handling fee. Additional shipping and handling fees may be charged by the storage depository. Other in-kind asset distributions are also subject to this same fee.
Can you sell back to the company?
Yes, in order to do that you must place a metal liquidation request. But liquidating metals will also be subject to a fee shown in the screenshot below:
I looked through their website and there is no information about whether people from countries other than the US can use udirect IRA. That’s definitely a bummer for those not living in the states.
How about their online reviews and ratings?
Something that is always wise (and highly recommended) to do before you make any kind of decisions is to look at the particular company you are interested in, and then see what the most well-known and trusted review and rating sites have to say about them.
As always in our reviews we make sure to provide you with their ratings and scores (with clickable links) to make this task easier for you:
Rating: A+ click here for details (opens in new window)
Rating: (4.8 / 5) (out of 51 reviews) click here for details (opens in new window)
Rating: (3.5 / 5) (out of 22 reviews) click here for details (opens in new window)
The conclusion from this:
First of all, that are not that many reviews and ratings online on this company, you need to know that there are many similar companies that have been online the same amount of time, shorter, and longer, but they do have a lot more reviews.
What caught my attention is that a lot of udirect’s clients are really impressed with the responsive, quick and professional customer service.
But there are also some negative reviews that you should bear in mind. Like this one for example (but there are more):
Well, as you can clearly see above there are some “not so happy” clients, this one above is one example, there are more to be found by clicking the links provided further up.
** Learn about a IRA custodian with 500+ reviews instead (and with the most from 3rd party consumer protection agencies)
Do You Own or Represent Udirect IRA services?
If you are a representative, or associate of Udirect IRA services and have found something not to be correct in this review please, feel free to tell and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or else you got the e-mail on the about page.
Final Words and verdict
Overall rating: (4 / 5)
As mentioned above, udirect IRA is legit and overall, it’s worth checking out. The rating 4 out of 5 stars is a good one, the great profile of its owner, its cheap fees and excellent customer service are its strongest assets.
However, there are some complaints to be found, not everyone seems that happy with the service so keep that in mind.
Looking for a precious metals IRA in particular?
As mentioned earlier, it is always recommended to compare different options against each other to get a better overall view and to find the company that suits your needs the best.
You made a wise choice reading this review and you are a smart person, so I am sure that you will find the right one for you that suits your particular needs the best!
Below is the absolute highest rated one, by us (Gold retired), but also the best rated one overall according to the most well-known and trusted review and rating sites:
I hope this short review explained all the basic information there is to know about what udirect IRA is and if it might be a good alternative for you. If you have personal experience with them, you can share it in the comments below as it can help others! Also, Feel free to ask any questions you might have, I’ll be glad to answer them!
I wish you success!
founder of: Gold Retired