All Fees Explained
At Quest Trust Company our World Famous Customer Service begins and ends with our clients. So, when it comes to our fee structure we want to keep it simple and transparent. Also, every dollar you spend on a Quest Trust fee goes back into making sure your self-directed IRA experience with us is the best it can be.
While other IRA custodians may boast cheaper fees, you may find that their services do not meet all of your needs. You will find that our fees remain average with industry standards and that the customer service and education we provide will easily pay for itself. Simply put, you’ll receive a much higher value for a reasonable fee!
What Types of Fees Can I Expect to See?
With a Self-Directed IRA at Quest, you will never experience a hidden charge. Our outlined Fee Schedule allows you to accurately plan for any fees you would expect to see during an investment, ensuring you never have to be shocked by an unplanned charge. Additionally, with 3 different Annual Fee Plans, you have the option to choose the best structure that works for you rather than being locked into an all-inclusive plan that may not fit your needs.
Initial Fees
Getting started is easy and won’t cost you an arm and a leg. For just $100, we can establish and generate an account number for a new self-directed IRA. Then, when you’re ready to fund your first transaction, there’s only a few charges you’ll incur. Any other fee you’d see at Quest would surround account maintenance, such as end of year reporting or additional investment processing, or yearly investment fee plans.
With Option 1, or the “Fee Based on Number of Assets” option, you will pay a flat fee of $350 per asset per year. At the time you purchase your investment, this fee will be assessed and you can expect to see it a year later on the same date. If you select Option 2, the “Fee Based on Total Account Value” option, your fees will be quarterly and will depend on the total account value, meaning the value of the assets and the cash. You can see below that this option is tiered. Note – if you have cash in the account but do not have any assets, this chart will not apply and you will only be charged the $30 quarterly maintenance fee.
The last option is Option 3, The Gold Family Concierge Plan. This is our all-inclusive plan at $3,000 a year. With The Gold Family option, you can open multiple accounts for you and your immediate family without having to pay the $100 account opening fee. All other fees are included with this fee plan, except for a few special fees like asset research and overnight mail costs. On top of the fee benefits, there are many others that you can find in our FAQ section below.
Transaction Fees Explained
When you do a transaction at Quest, our Quest representatives will work diligently with third parties to ensure your investments is funded smoothly. At the time we conduct a new transaction, there may be a few fees you could incur. Purchasing, selling, exchanging, or re-registering an asset will have a $125 transaction fee and you can either choose to send the funds for different costs, as seen below. The “Other Fees” section contains fees you will see at Quest if you select to use an optional service, require paper versions of certain online documents, or incur a late fee. These do not always apply. Other fees such as the Non-Recourse Loan fee, Roth Conversion fees, and Asset Research fee may not apply to your situation, so these fees are only assessed if applicable. Learn more about when this fee is charged in the FAQs!
Self-directing shouldn’t come with aggressive fees every way you turn, which is why we believe in only charging a few main fees for the more difficult services we provide. As you shop around, you’ll see our fees are remain average with other custodians in the industry. We are confident that our service will show any potential or current client the value of Quest Trust Company. If you have questions about our services or fees, give us a call at 281.492.3434. To learn more about how to get started investing with a self-directed IRA, schedule a 1-on-1 consultation with an IRA Specialist by clicking HERE.
Fee FAQs
What if I have chosen to pay my fees by deducting from my account, but there is no cash available to deduct the fee from?
- If we cannot deduct the fee from your account, we will default to the credit card we have on file.
What if I am set to deduct fees via a credit or debit card, but the card is declined?
- Quest will reach out to the client in order to obtain correct card information. If we are unable to reach the client after a certain time, the account could be closed due to unpaid fees.
Can I change my fee option?
- Yes! You can always change your fee option based on what fits your wealth building strategy at the time!
Is there a cost to change my fee option?
- No, there is no cost to change your fee selection.
How do I change my fee option?
- You can change your fee option by submitted an updated Fee Schedule document in the Client Portal!
How often can I change my fee option for my account?
- There is no limit for the number of times you can change this option!
When are the quarterly fees charges?
- The quarterly fees are assessed at the end of March, June, September, and December.
How can I pay my Quest fees?
- There are a few ways you can elect to pay your fees. You can either pay your fees via credit or debit card or you can choose to deduct the fees from your Quest account.
What is the value of Option 3 – The Gold Family Plan?
– Gold Member Concierges provides additional benefits you can’t get with other options. You will have a designated rep with the Gold Member Concierge service to ensure account business is handled properly and in a timely manner. Additionally, you’ll get special reminders to make your account management easy, such as maturity date and other notices, as well as access to private events exclusively for Gold Family Members.
Does Quest have account minimums?
- Quest does not have any account minimums. You can open a new account without putting anything into you; we simply ask that we have a credit card on file at the time we establish your new account.
Will I have to pay every fee listed under “Transaction Fees”?
- No! Certain fees will only apply to specific investments. The Non-Recourse fee will only apply to debt-leveraged loans. The Roth Conversion Asset fee will only apply if you are converting an asset from a Traditional account to a Roth account. The Asset Research Fee will only apply if you elect to have Quest do the annual research, but you have the option to do this yourself with no charge. If you require a specialty service, you will see the hourly Special Services fee.
Does Quest charge any fees for incoming funds?
- Quest does not charge when funds are moving into your Quest account. There could be a fee for funds that are outgoing.
When would I need to use a cashier’s checks?
- Certain investments like auction properties will require cashier’s checks. If needed, this is when the Cashier Check fee will be charged.
If my account is open with zero investments, does Quest charge a fee. If so, how often and how much?
- If your account is open but you do not have any investments, there will be a quarterly maintenance charge of $30.
How can I tell which fee option is right for me?
- Certain investments will work better for different plans! It’s important to look at things like the cost of the investment, the duration, and how many investments you plan to do. If you are unsure which fee plan is best for you, you can call an IRA Specialist and we can help!
Do I earn interest if I have idle cash sitting in my Quest account?
- You do not earn interest for the idle cash sitting in your account.
If you ever have questions about our fees or the Quest Trust Company value, you can speak to an IRA Specialist or a Billing Specialist. Give us a call at 281-492-3434 or schedule a consultation.