A request for help: Companies providing services in the self
directed retirement and self directed solo 401k world.
Pensco, Entrust, Guidant, IRA123, AG Edwards, and a host of
others often come up in searches. While I plan to review and interview some of
the experts at these companies, my goal today was to find a way to evaluate
them online. I did not find such tools or services.
In fact, after I got frustrated trying to research and come
up with the top 10 of self-directed solo 401k and retirement providers, I went
back to the website I really count on for unbiased advice:
and remembered their PDF directory. While this is helpful, it is still only a
The challenge is that no one is really analyzing or
assessing if these providers are good, bad or neutral. I’d like to know if
anyone has seen any sites offering a comparison shopping type site with reviews
and ratings of people or firms that provide advice in setting up a solo 401k or
self directed retirement option.
What the industry needs is a place where consumers can get
access to highly qualified financial advisors – who are vetted and tested in
the marketplace by consumers who have used those services. Now I know there are tons of services where
these sorts of rankings are abused or manipulated, but there are places where
the hive, the mob, the group, monitors itself and the good advice/comments rise
to the surface. Look at Wikipedia, for example.
did find and will share one resource I found at Motley Fool which offers advice
on what factors to use for analyzing a new advisor you might pick. They say
that advice comes in “four flavors” including financial planners, investment
managers, call center-based assistance (I guess this means a broker has an
answer desk), and specialists. The article answers which type do what and at
what price. It offers a good breakdown of what to watch out for as well.
Down the right side they offer a good list of acronyms and
what they mean. The last one is worth a check.
This second link was the checklist of questions to ask.
Please feel free to email me with any sites or services that
can help us (and you) make sense of this marketplace. Email me at my
AllBusiness.com advisor address by clicking on my photo/name. Or posting a comment and we’ll respond there.