Trust Advisor Readers Name Provident Trust Group Top IRA Custodian

MARINA DEL REY, Calif., July 7, 2015 /PRNewswire/ -- More than $146 billion in U.S. retirement assets have flowed into self-directed IRAs over the years, and if the financial professionals who read the Trust Advisor are any guide, the gatekeepers favor Provident Trust Group as the preferred custodian for all that money.

A reader survey conducted earlier this year revealed that only 10 independent retirement custodians had built strong enough brands to register with the investment advisory community. Within that group, Provident was the undisputed leader, capturing 22% of the overall vote.

The runaway leadership in an otherwise profoundly fragmented custodial market category indicates that investors and their advisors are no longer willing to sacrifice either flexibility or fees when selecting a custodian.

"Previously it was a hard question of settling for a limited investment universe or paying a substantial premium for a niche-oriented specialist who could handle the assets," notes Scott Martin, Trust Advisor senior editor. "The big institutions always had the scale to accommodate price-oriented investors, but the service platform was on the generic side. The boutiques, on the other hand, knew they had a captive market and charged accordingly."

Interviews with survey respondents point to Provident as one of a handful of independent institutions that is truly willing and able to accept the entire spectrum of once-exotic "alternative" investments – real estate, private equity, physical gold and silver bullion – on a $3 billion platform that takes it well beyond "boutique" status.

Others point to Provident's deep commitment to the self-directed investment ethos that drives money to these asset classes in the first place. There are no "helpful" in-house consultants eager to suggest more conventional stocks or bonds. You're free to fly or founder here.

"We have a lot of readers, so knowing that close to one in four would steer their clients to Provident says it all," Martin points out. "With a truly differentiated offering, I'm looking forward to seeing where it goes."

Full rankings and analysis, along with advisor-centered guidance on the custodian choice process, can be found in the Trust Advisor's premier America's Best IRA Custodians. Click here to review the report.

Media Contact:Scott Martin[email protected]

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/trust-advisor-readers-name-provident-trust-group-top-ira-custodian-300109845.html

SOURCE The Trust Advisor