Like every other financial services company, we are seeing good days and bad days
Seattle (Vocus) December 8, 2008
One of the nation's largest providers of self-directed IRA services announced today that it is on pace to record 30% growth in new self-directed IRA accounts opened this quarter over Fourth Quarter 2007.
Guidant Financial Group, a provider of self-directed IRA services and small business financing solutions, has seen a surprising increase in activity. "Considering the economic turmoil, we did not anticipate such a significant increase in Americans seeking to invest their retirement funds into alternative assets," says Guidant CEO David Nilssen.
Nilssen explains that the company, like most other financial services firms, prepared for a significant downturn in business. But the turmoil in the traditional financial markets appears to be encouraging many investors to rethink how they invest for retirement.
"Americans have suffered through the meltdown in the real estate market, the continued excesses of corporate CEOs, multiple failed financial firms, and the extreme volatility in the stock market. It's no wonder people increasingly distrust the traditional securities market," he adds.
Last year, prospective self-directed IRA clients came to Guidant with a specific investment in mind. Now, more and more clients are simply looking to shift their retirement savings out of the stock market and into other asset classes. They open their self-directed IRA without first committing to a specific investment, something almost unheard of only a year ago.
Guidant's self-directed IRA LLC is a type of self-directed retirement account that gives investors the ability to invest in both traditional and non-traditional assets. Popular investments among Guidant clients include rental properties, private loans, private stock and tax liens. Many alternative investments provide cash-flow opportunities that make them more attractive for retirement savings.
"Like every other financial services company, we are seeing good days and bad days," says Nilssen. "But, on the whole, we are performing better than expected. Our customers have decided to take their retirement savings into their own hands and more directly manage where, and with whom, their funds are invested." That in turn has fueled the unexpectedly strong fourth quarter growth in Guidant's self-directed IRA business.
About Guidant Financial Group:
Guidant Financial Group is the premier provider of self-directed IRAs and business-funding solutions through IRAs and 401(k)s. Guidant's services allow investors the freedom to make investments in real estate, franchises, businesses, tax liens and more by accessing their retirement accounts without penalty before retirement age. For more information on Self-directed IRAs or Small Business Financing please visit http://www.guidantfinancial.com.
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