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Monday morning
Dear Marlowe, Other Posters on this Subject, & Group,
I telephoned NorthStarTrust this morning and spoke with Pat, who told me tht she
was an ex-employee of InTrust, and that NST was doing largely what InTrust has
been doing relative to self-directed IRAs and futures investment. For example,
like InTrust, NST will allow 70% of the IRA account to be deposited with a
futures broker. They have agreements with a dozen or so futures brokerages that
will accept their services (Vision, Lind-Waldock, Peregrine, etc. although
Linnco is not among them). One twist, however, is that their application asks
not only for the IRA account but also for a list of all "retirement funds" (such
as a separate 401k account), and then they limit the amount that they will
accept in an IRA for futures investment to no more than 30% of all "retirement
funds". She said that they were doing this so as to avoid the mess with the
Illinois state regulators that InTrust is now in. This 30% limitation would
present a significant problem for someone such as myself whose only retirement
fund is a relatively small IRA.
Thank you Marlowe and all others for your posts on this subject.
Sincerely,
Richard
Marlowe Cassetti wrote:
> I was discussing this issue with someone from Ira Epstein and they said that
> they were now using North Star Trust ( http://www.northstartrust.com/ ) as
> the administrator for futures IRA. I haven't tried them yet.
>
> Marlowe
>
> ----- Original Message -----
> From: <taoofdow@xxxxxxxxxxxxxx>
> To: <omega-list@xxxxxxxxxx>
> Sent: Saturday, August 12, 2000 10:52 AM
> Subject: Trading Futures in an IRA?
>
> > Dear Group,
> >
> > With the demise of InTrust, does there remain any way to trade futures
> > with an IRA account?
> >
> > Sincerely,
> >
> > Richard
> >
> >
> > --
> > Is your email secure? http://www.pop3now.com
> > (c) 1998-2000 secureFront Technologies, Inc. All rights reserved.
> >
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