Anyone else seeing their custodian fees creeping up?

Frank Rivera

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Anyone else seeing their custodian fees creeping up?

frank_rivera💎Premium (500k-1m)

about 6 hours ago

Key Takeaways

•Been meaning to ask about this for a while – is anyone else noticing their custodian fees slowly but surely inching upwards?
•We're talking probably $750k in gold and some silver, so not a small amount to be holding.
•For the first few years, things were pretty stable, standard annual admin fees and storage.

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Morning, folks. Been meaning to ask about this for a while – is anyone else noticing their custodian fees slowly but surely inching upwards? I've been with my current outfit (can't mention names, obviously) for about five years now, ever since I rolled over a substantial chunk of my military pension into a Gold IRA. We're talking probably $750k in gold and some silver, so not a small amount to be holding. For the first few years, things were pretty stable, standard annual admin fees and storage. But lately, it feels like every other statement has a little bump here or there. Nothing egregious on its own, but it adds up.

I'm out here in Honolulu, watching the global economy with a pretty Pacific-centric view, and honestly, the stability that gold offers still feels like the safest bet in these choppy waters. With everything happening in the South China Sea, and the dollar’s long-term prospects feeling less certain, I’m not about to pull my assets out of precious metals. But I also don't want to hemorrhage cash on custodian fees. What are folks seeing for their annual expenses, especially those with larger holdings? Are there any hidden fees I should really be scrutinizing?

Thinking about making some calls to other custodians to compare notes. Any strong recommendations or, more importantly, any absolute avoid at all costs warnings out there? Specifically looking for custodians that have a solid reputation for transparency and don't nickel-and-dime you on every little thing. Preferable if they have dedicated account managers, as I've found that makes a huge difference when you need to actually talk to someone who understands your account, not just a call center drone.

My current setup has been "fine," but "fine" doesn't cut it when you're talking about a significant portion of your retirement nest egg. Looking forward to hearing your experiences.

5 comments

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Best Answer▲ 8 upvotes

linda_taylor📊Growing (50-100k)

Totally get what you mean. Custodian fees can sneak up on you. When you say "inching upwards," are we talking about a percentage increase or a flat fee that's just gone up? Like, did they change the rate or just start charging for something they didn't before?

Comments (5)

janet_cook📊Growing (50-100k)•less than a minute ago

Dude, preach! I thought it was just me. My fees started out pretty reasonable a few years back when I first got into the gold IRA game, but I swear they've tacked on an extra 0.05% every year or so. It's not a huge jump individually, but it definitely adds up over time. Makes you wonder if it's a trend or just my particular custodian.

linda_taylor📊Growing (50-100k)✓ Verified•less than a minute ago

janet_cook📊Growing (50-100k)•less than a minute ago

Honestly, I'm not seeing that trend myself. My custodian has kept fees pretty consistent for the past few years, even with the market being a bit all over the place. Maybe it's not an industry-wide thing but more specific to your custodian? Might be worth doing a quick comparison shop to see what else is out there, just in case.

Could also depend on the size of your holdings, I know some places have tiered fees. Just a thought.

jason_morgan💰Established (100-250k)Real Investor✓ Verified•less than a minute ago

Yep, definitely not just you. I've heard similar complaints from a few others recently. It's frustrating when those small fees start adding up, especially with larger holdings.

One thing worth considering, if you haven't already, is checking if your custodian offers any incentives for higher account balances, or if they have different fee structures for different account sizes. Sometimes, a quick call to their customer service can reveal options you weren't aware of. Also, a quick search for "gold IRA custodian fee comparison" can often bring up good resources to benchmark against.

linda_taylor📊Growing (50-100k)✓ Verified•less than a minute ago

Totally agree, bud. I've had the same experience with my Gold IRA custodian. My annual fee went from a flat $150 to $200 over the past three years, with no real explanation beyond "market adjustments." It's not a huge amount in the grand scheme, but it's still annoying to see it tick up like that without any apparent improvement in service. Makes you wonder if they're just banking on people not noticing or not wanting to go through the hassle of switching.

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