Merrill Lynch Clients Asked to Move “Special Investments” out of Accounts or be Moved

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In a client letter issued on February 8th, 2017, Merrill Lynch announced that it will no longer accept or hold certain investments which include but are not limited to unregistered limited partnerships and non-tradable REITs, or “special investments” in its IRA accounts. Account holders who do not move these investments out of their accounts will have their accounts passed on to Merrill Lynch’s successor custodian.

If you are an account holder who currently holds alternative assets with Merrill Lynch, you have the right and ability to choose your new provider. Merrill Lynch’s administration change is one of the many reasons IRA holders can benefit from a self-directed IRA provider that supports alternative asset investing as a cornerstone of their business plan. New Direction IRA specializes in the bookkeeping for “alternative assets,” which is virtually any asset that lies outside of publicly traded securities. This includes but is not limited to real estate, precious metals, private equity, private lending, land rights, and more. Life insurance and collectibles are disallowed as an investment in retirement accounts, according to the IRS.

New Direction IRA also boasts an education-based business model, which prioritizes the education of our clients so they can feel comfortable and confident investing their retirement accounts in alternative asset markets. New Direction provides its clients with a library of educational materials including asset-specific investing guides, strategy-specific webinars, blogs, articles, and continuing education classes for real estate professionals, CPAs, and other investors. Visit our Education page, or contact New Direction IRA today to learn more about alternative asset investing with your self-directed IRA.

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