Fraud promoters will often try to mislead individuals into believing that their custodians will perform due diligence for them and that their investments are legitimate or protected from loss since their custodian is involved.
Atlanta, GA (PRWEB) December 20, 2014
One thing that Jim Hitt, CEO of American IRA, stresses to everyone he speaks to about investing is performing due diligence. The recently posted Informed Investor Advisory: Third-Party Custodians of Self-Directed IRAs and Other Qualified Programs reminds everyone that the duties of their custodian are limited and that they should keep in mind their custodian will not perform due diligence on their investments for them.
This advisory points out that while an individual's custodian will be clear about what they will and won't do in relation to the investments a client makes, fraud promoters will often try to mislead individuals into believing that their custodians will perform due diligence for them and that their investments are legitimate or protected from loss since their custodian is involved. It goes on to clarify these points by explaining the actual role of the custodian which is simply put, a record keeper who does not give investment advice and who does not perform due diligence on any assets. The sole responsibility for ensuring an investment is sound rests upon the investor not the custodian.
Another point that Jim Hitt always stresses to those who own Self Directed IRAs is that having the correct professionals involved is the best way to ensure that an individual's money is well spent on the investments they want to make. Professionals include and certainly are not limited to: CPAs, Attorneys, Realtors, Financial Advisors, and Inspectors. The fraud promoters don't want the fraudulent investments they are selling to be investigated since the investor's professionals will most certainly find the dust under the carpet and advise their client not to proceed.
About American IRA, LLC:
American IRA is committed to providing every client with gold-level service, regardless of account size. Experience their expertise through their certified IRA services professionals. Enjoy the value with one low annual fee of $285 with unlimited assets and unlimited account values. American IRA clients love the benefit of no charge for "All Cash" accounts. The performance of the American IRA staff is unmatched, with quick and efficient processing within 48 hours.
American IRA services thousands of clients and has over $300 million in assets under administration.
American IRA was built by investors for investors, and brings their successful investment experience to the table, providing excellent educational material showing the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
American IRA is conveniently located in Asheville, NC and Charlotte, NC, and serves clients nationwide.