Broker for Beneficiary IRA

C

cubsguy81

Hi All,

I am in need of a broker to move a Beneficiary IRA to from Wachovia. The only retail broker I can find that accepts this type of IRA is eTrade. It seems that only the full service brokerages accept them otherwise.

I want to self-direct this like I do everything else and looking for other brokers I could move it to. It seems like all of the major retail players do not accept them from what I can gather on their websites, except for eTrade.

IB does not accept these type of accounts, I was already told this in the acct application process.
 
Quote from cubsguy81:

Hi All,

I am in need of a broker to move a Beneficiary IRA to from Wachovia. The only retail broker I can find that accepts this type of IRA is eTrade. It seems that only the full service brokerages accept them otherwise.

I want to self-direct this like I do everything else and looking for other brokers I could move it to. It seems like all of the major retail players do not accept them from what I can gather on their websites, except for eTrade.

IB does not accept these type of accounts, I was already told this in the acct application process.
More...

You may have to do what some friends of mine did after not being satisfied with their choices on the Ben IRA, which was set up an LLC for each beneficiary and do it that way. Your Accountant would be your next stop. I avoid the Ben IRA completely by using an FLP... taxable now but only at 10%, and no SE tax.
 
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