Looking for a reputable brokerage company...

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  1. #1
    Sketch's Avatar
    Sketch is offline Senior Member
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    Default Looking for a reputable brokerage company...

    Hey guys,
    I've been looking for a reputable brokerage company that will handle a self-directed IRA and allow a private placement. Everything I'm finding online is a little questionable.

    Anyone have someone they recommend, or have heard good things about?

    Thank you!

    Bradley
    '16 MBZ S W222 (loaded)
    '12 MINI Inspired by Goodwood (1/100 in US)

  2. #2
    Tpup is offline Member
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    I'm not clear on what you are trying to do. Just about anyone can handle a self-directed IRA. I've used a few but have mine with USAA now. In terms of a private placement I have done them but they do not require a "brokerage" company. I did one as a private company and just issued the shares/certificate directly to the new shareholder after executed agreements and payment. I have done a public company PIPE and the agreements were signed directly between the company and new shareholder. After acceptance our transfer agent issues the shares.

    If what you are tying to do is participate in a private placement, with funds from an existing IRA, that's a bit more complicated. I did look into that back in 2013 and as I recall I could do it but it was tricky because USAA had to pay the company and then get the stock from the transfer agent a few days later. There were also laws that governed how much you could "risk" or invest. If that's what you are trying to do let me know and I'll see if I can find my notes...

    Feel free to PM me and explain what you are trying to do; I'll help if I can.

  3. #3
    Sketch's Avatar
    Sketch is offline Senior Member
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    Default

    Quote Originally Posted by Tpup View Post
    I'm not clear on what you are trying to do. Just about anyone can handle a self-directed IRA. I've used a few but have mine with USAA now. In terms of a private placement I have done them but they do not require a "brokerage" company. I did one as a private company and just issued the shares/certificate directly to the new shareholder after executed agreements and payment. I have done a public company PIPE and the agreements were signed directly between the company and new shareholder. After acceptance our transfer agent issues the shares.

    If what you are tying to do is participate in a private placement, with funds from an existing IRA, that's a bit more complicated. I did look into that back in 2013 and as I recall I could do it but it was tricky because USAA had to pay the company and then get the stock from the transfer agent a few days later. There were also laws that governed how much you could "risk" or invest. If that's what you are trying to do let me know and I'll see if I can find my notes...

    Feel free to PM me and explain what you are trying to do; I'll help if I can.
    Thank you very much for your reply, yes private placement was what I was looking to do, but as you said there are exclusions, penalties and some other things I had to consider. I managed to get it sorted out about 2 days later and everything seems to be working brilliantly. Thank you again.

    B
    '16 MBZ S W222 (loaded)
    '12 MINI Inspired by Goodwood (1/100 in US)

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