Step-by-Step Guide to Acquire Securities
Step 1 – Open and fund your IRA – It takes New Direction IRA two business days to open your account once your application is in the office. Then you will fund the account with a rollover, transfer, and/or contribution. This may take several weeks, so plan for that in your timetable.
Step 2 – Fill out a Buy Direction Letter and submit it to NDIRA.
Step 3 – New Direction sends IRA funds to the brokerage house, and you initiate the account activity.
New Direction IRA is not a licensed brokerage and cannot hold or trade publicly traded stock directly. To purchase stocks, bonds, or mutual funds, the IRA holder instructs us to open a brokerage account that will be used to purchase the securities. Note that brokerage house fees are separate from NDIRA fees. (We can only work with Scottrade at this time).
Learn about New Direction IRA Brokerage Fees.