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Sunwest Trust Company Newsletter

Click on the link to view the newsletter: >> Sunwest Trust Newsletter (November 2016) <<.

We do appreciate your emails.

Each time we send out our monthly newsletter, we receive a wonderful response from everyone. I would like to thank you for the emails you have sent me with suggestions and ideas of what to write about in upcoming issues. I will continue to give general information about the types of things that are available to invest in through your self-directed IRA. If something that I write about sounds interesting to you, I encourage you to do your own due diligence and then to speak with a CPA about whether or not that investment would be right for your situation.

Missed a previous newsletter? View our newsletter archive here.

Thank You for Your Referrals

We appreciate any referrals that are sent to us, but I would like to make it very clear that Sunwest Trust does not endorse ANY investment product or service, nor do we give any investment advice. The purpose of this blog and our newsletter is simply to provide information about different types of investments that are available. We provide all information in a straight forward manner. There’s not any one investment that is right for everyone. This is why it’s very important to do your own research and to discuss investment opportunities with a trusted tax professional.

IRA Custodial Services You Can Rely On

Daily Sunwest Trust, Inc. receives phone calls and emails from individual investors asking about the types of investments they should make inside their self directed IRAs. Here is our response. “Sunwest Trust cannot provide any investment or tax advice. We only act as your custodian. We direct your funds at your specific direction.” Which leads me to something else that should be disclosed. As your custodian, if we direct your funds for a particular investment, then it does not mean that we also endorse your specific transaction. In the end, it is up to you to have completed your own due diligence.

After all, you are self directed, which means you are responsible for making your own investment decisions.

General Advice – Not Typical

Having said that, the general advice we typically offer overall is when you start investing with your IRA, it is best to start investing in some asset that you already know about along with the help of a professional advisory team. If, for example, you don’t know anything about the real estate market, then flipping houses is probably not a good idea for you until you know something about it. Find investments including alternative ones that you know something about and feel comfortable transacting.

Who Should Be on Your Professional Advisory Team

The next piece of advice we can offer you generally is to always seek out the help of a sound professional advisory team, which should include at a minimum a qualified CPA and attorney who can review your contracts and can run the numbers on your specific opportunity. An ounce of prevention is always worth more than a pound of cure. What value can you place on having an attorney review your documents for $200-500, if that review could have saved you $150,000 in losses in the long run?

Always Speak with Your CPA First

Always, due your own ample due diligence prior to making an investment and never leave it up to someone else. It is never recommended that you purchase an investment on a hunch, especially from a slick investment promoter without first completing your own discovery. Our firm always encourages all of our clients to first speak with their CPA to run the numbers before making any investment decision and to hire a competent attorney to ensure that you have solid contracts in place in order to protect you and your assets. If you want to scrimp and save is never wise to do so upfront.

Always keep in the back of your mind while you are investing that free advice can be the most expensive advice you ever receive.

Custodians VS Advisors

We, as a company, feel that we can provide the best service to our clients by remaining completely impartial and objective. We are not able to advise as to how you should invest your retirement funds. After all, isn’t that the reason why you started a self-directed IRA in the first place?

Terry White

About Terry White

I started my business career after getting my degree in Accounting from the University of New Mexico in 1983. My first job was as a controller for a local title company, and in 1987 I started First Financial Escrow, Inc. Over the years I played a part in several startup companies including First Financial Equities, Inc., First Financial Trust, Inc., First Financial Marketing, Inc. and Asset Ventures, Inc. In 1997 First Financial Escrow, Inc. was able to purchase the escrow accounts from Sunwest Bank and changed its name to Sunwest Escrow. As the market changes, Sunwest has grown and changed along with it. Besides my wife, Sheila, we have three boys, two daughters-in-law, one grandson, another grandson on the way and a future daughter-in-law. Sunwest is my passion, and I enjoy coming to work every day to see what will happen next. I enjoy fly fishing, spending time in Colorado, biking and watching my boys play soccer.