NewswireToday - /newswire/ -
Oakland, CA, United States, 2012/04/18 - Industry leaders report a 24.94 percent growth in new self-directed individual retirement accounts throughout the first quarter of 2012 - TheEntrustGroup.com.
The Entrust Group, the industry leader of custodial services for self-directed retirement plans, today announced it has seen a 24.94 percent growth in new accounts throughout the first quarter of 2012 compared to last year’s first quarter.
- Traditional IRA ranks as most popular retirement plan for individuals;
- Real estate ranks as most popular investment choice for IRA holders;
- 401(k), ESA and SIMPLE among the highest growth of individual retirement plans;
- Precious metals and LLCs among the highest growth of investment options for investors.
“Investors are beginning to realize that true self-direction doesn’t just mean that one may select from a list of stocks, bonds, or mutual funds, for example, but also that one may invest in any asset legally permitted by the IRS. As a result, people are looking at self-directed IRA options more closely, especially given our current economic state,” says Hubert Bromma, CEO and founder of The Entrust Group.
Although more than half of new accounts opened at Entrust are Traditional IRA plans, there has been a significant increase in 401(k) plans (17.81%), SIMPLE plans (17.65%), and ESA plan (15.58%) between January 1st to April 1st.
Real estate continues to rank as the most popular alternative investment choice for Entrust account holders, but not far behind are the number of investors choosing to direct their retirement funds into precious metals (15.16% increase over Q1) and LLCs (a 13.59% increase over Q1).
Bromma adds that “the Investment Company Institute reports that US investors hold approximately $4.7 trillion in IRAs, and only about 2% of that is invested through self directed IRAs. I see this percentage increasing as individuals become more aware of the many alternative investment choices available. We certainly have seen the growth first-hand at Entrust with the number of new accounts that have come in during the first part of this year.”
The Entrust Group is also growing as company. A new office in the Philadelphia area is slated to open later this month, and an office in St. Louis, MO will open its doors this summer. By the end of 2012, Entrust plans to be operating a total of 11 offices throughout the US. Currently, it has 8 offices located in California, Massachusetts, Oregon and Washington.
About The Entrust Group
For 30 years, The Entrust Group (theentrustgroup.com) has provided account administration services for self-directed retirement plans and has been an acknowledged authority in the field. Entrust facilitates the investment of alternative assets that are typically unavailable through a brokerage firm in self-directed retirement plans. Entrust’s team of professionals are regularly examined to ensure compliance with current state and federal banking requirements, and keep up to date by participating in ongoing educational programs to ensure that the most accurate information is shared with clients.