SkyOak Wealth’s Self-Directed IRA Services & Administration is led by Tracy Ronningen, Director of Retirement Services who has specialized in Self-Directed IRAs & Specialty Assets for over 16 years.
Tracy and his team offer services to IRA account holders who need assistance and/or expertise in facilitating non-traditional investment transactions such as purchasing investment real estate, securing loans such as trust deeds or personal loans, and/or investing in non-publicly traded stock or closely held companies. SkyOak’s custodian for Self Directed IRAs & Specialty Assets is Equity Institutional.
Services provided under SkyOak’s Self-Directed IRA Service Agreement include but are not limited to:
SkyOak, as the Service Representative, will act only as the designated liaison of Account Holder and the Custodian and will be limited to access to account information only. SkyOak as the Service Representative, will not act as an investment advisor, trustee, sales agent, broker, accountant or attorney. SkyOak, as the Service Representative, will not have power of attorney or discretion over the assets of the Account, cannot unilaterally or otherwise direct the payment of invoices or billings from the assets of the Account or have any power to direct payment of the Account assets in any manner without Account Holder written direction. SkyOak, as the Service Representative, will not have authority to make changes or to transact business on behalf of Account Holder. The Service Representative shall not take possession of Account Holder’s assets to include but not limited to Account Holder’s deeds, notes, and documents demonstrating ownership interest. Nor shall any deed, note, ownership interest, etc. be denoted in the name of the Service Representative or in the name of any other payee other than as directed in writing by Account Holder.
Self-Directed IRA Services is governed by a separate agreement entered into by and between the IRA Account holder and SkyOak Wealth Management, Inc. as the Service Representative.
SkyOak, as Service Representative, charges an annual self-directed IRA service fee based on a percentage of specialty assets being serviced by SkyOak at Account Holder’s custodian. SkyOak’s annual IRA service fee is charged quarterly, in advance, based upon the most recent custodian’s statement of the assets provided by an account holder. For new accounts, SkyOak will prorate to the portion of the calendar quarter during which the assets were placed under SkyOak’s Service Agreement. The Firm’s standard fee schedule follows below: