Adam Bergman - IRA Financial Group Partner – Authors Forbes Articles on Impact of Proposed SEC Fiduciary Rule on Self-Directed IRAs

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New Forbes article discusses potential impact of the proposed SEC fiduciary rule on retirement account investors

SEC Proposed Fiduciary Rule Impact on Invetsment Advisors & Brokers

With the recent Fifth Circuit decision overturning the DOL’s fiduciary rule, understanding the potential scope of the SEC’s proposed fiduciary rule becomes even more important for investment advisors and brokers

Adam Bergman – IRA Financial Group Partner – Authors Forbes article on the impact of the proposed SEC fiduciary rule on IRA and 401(k) plan accounts, specifically self-directed IRAs. The article is titled, "Impact On Self-Directed IRAs Of SEC Fiduciary Rule Proposals.” The article reviews the main proposals in the SEC’s proposed fiduciary rule. The article highlights the potential impact of the proposed rules would have on investment advisors and brokers as it relates to investment advice. The article focuses on the impact of the proposed SEC fiduciary rule, also referred to as the “best interest proposal” on retirement accounts. “With the recent Fifth Circuit decision overturning the DOL’s fiduciary rule, understanding the potential scope of the SEC’s proposed fiduciary rule becomes even more important for investment advisors and brokers,” stated Adam Bergman, partner with the IRA Financial Group.

On April 18, 2018, the Securities and Exchange Commission (“SEC”) released a 1,000-page set of proposals intended to limit brokers and investment advisors’ conflicts of interest for nonretirement and retirement accounts. The SEC’s proposal, which has become known as the “best-interest proposal”, is subject to a 90-day comment period and revisions before being finalized.

According to Mr. Bergman, “Like the DOL fiduciary rule, the proposed SEC rule, only addresses investment advice offered by investment advisors or broker dealers. In the case of a self-directed IRA, the IRA custodian is not permitted to offer any investment advice and is, thus, not considered a fiduciary. Hence, the proposed SEC fiduciary rule should have no impact on self-directed retirement accounts.

The need for investors looking to use retirement funds to purchase cryptocurrencies to understand the fees involved, importance of holding the private key, as well as recognize the risks involved when using retirement funds to purchase cryptocurrencies. “I wanted people to understand that they have choices when using a self-directed IRA to buy bitcoin and there are better options available than paying high broker commissions and giving up control of the private key,” stated Adam Bergman.
IRA Financial Group is the market's leading provider of self-directed retirement plans. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate, cryptocurrency, and private business investments.

The IRA Financial Trust Company, a self-directed IRA custodian, was founded by Adam Bergman, a partner with the IRA Financial Group. Mr. Bergman is a leading expert on the taxation of retirement funds and has authored multiples articles on how to use a self-directed IRA to buy cryptocurrencies.

Adam Bergman, IRA Financial Group partner is a frequent contributor to Forbes on the topic of self-directed retirement plans and has written seven books the topic of self-directed retirement plans, including How to use Retirement Funds to Purchase Cryptocurrencies, The Checkbook IRA, Going Solo, Turning Retirement Funds into Start-Up Dreams, Solo 401(k) Plan in a Nutshell, Self-Directed IRA in a Nutshell, and In God We Trust in Roth We Prosper.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.

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Jaclyn Baily
IRA Financial Group
since: 02/2011
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