NASAA Issues Advisory on Third-Party Custodians of Self-Directed IRAs and Other Qualified Plans

The North American Securities Administrators Association ("NASAA") issued an advisory to inform investors of the very limited responsibilities of third-party custodians of self-directed individual retirement accounts ("IRAs") and other qualified plans. In short, the advisory warns that such custodians serve as administrators and do not act to protect investors from investment mistakes.

See: NASAA Advisory.