Author Topic: Self Directed Custodian Software Options  (Read 527 times)

danb

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Self Directed Custodian Software Options
« on: February 27, 2020, 06:32:11 PM »
Hey all. I'm set on doing a Self Directed HSA and IRA. One thing that is important to me when choosing a Self-Directed Custodian is the software involved they use.

I like software that's:
- Easy to use.
- Puts the control in your hand.
- Allow electronic changes from a computer rather then faxing in a paper form or making a phone call.
- Makes it easy to print tax documents, balance statements.
- Has APIs to allow data to be fetched from other apps like YNAB, or Personal Capital.

Can anyone make recommendations on companies that offer self directed options AND have good software? My backup plan is to just transfer like 1000 into 10 different SD Custodians and test it my self.

jinga nation

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terran

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Re: Self Directed Custodian Software Options
« Reply #2 on: March 04, 2020, 10:18:56 AM »
The only HSA options I would currently consider are Fidelity and Lively. All others that I'm aware of charge fees for investing, require uninvested minimums, have poor investment options, etc.

Since Fidelity is the only one of the two that offers IRAs that pretty much makes the decision if you want both accounts at the same place. Incidentally, Fidelity allows edges out Lively IMO because you can invest from within the account instead of transferring to TD Ameritrade.

redhead84

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Re: Self Directed Custodian Software Options
« Reply #3 on: March 04, 2020, 10:43:53 AM »
I have HSA and IRA accounts with Fidelity. Previously had the HSA with HSA Bank, and Fidelity is FAR easier to use and, as Terran mentioned, does not require a minimum balance for investing. I would not consider another option.

danb

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Re: Self Directed Custodian Software Options
« Reply #4 on: March 04, 2020, 12:36:37 PM »
And your able to self direct these funds? I don't want to invest in mutual funds. I want my HSA to have ownership of an LLC.