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April 07, 2011 at 08:00 PM
Many advisors are not familiar with the genuine self-direction, non-traditional retirement industry. This industry administers retirement plans equipped with plan flexibilities, which allow account owners to purchase anything allowed by law. Genuine self-direction is the tool you need to help your clients invest in “what they know.” Consider the following:
Don’t be deceived. Any plan offering account owners three or more asset options is considered self-directed. This has necessitated the addition of the qualifier “genuine” to self-direction because real self-directed plans allow account owners the freedom to invest in anything allowed by law.
Non-traditional investments. “Anything allowed by law” includes assets like real estate, gold, promissory notes, closely held stock, options, leases, IPO stocks, private REITS, franchises, tax lien certificates, and oil and gas leases, to name a few. These are the assets your clients want to purchase because they are comfortable investing in “what they know.”
Genuine self-direction. Retirement plans offer plan owners a tremendous amount of flexibility. However, not all plans offer this flexibility. It’s because it’s in the best interest of those who offer the plan to limit plan options – you must establish a relationship with a self-directed plan administrator to offer your clients access to all available retirement plan flexibilities and asset options.
