Author Topic: Other Investment Options at Strata  (Read 8313 times)

jameslend

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Other Investment Options at Strata
« on: August 16, 2019, 01:03:00 PM »
Hi,

Not technically an LC discussion, but.

Starting to have cash pile up in my Strata account.  I think they an agreement with TD Ameritrade for stocks/bonds, but some one mentioned they were using it for a WunderCapital Account. I was wondering what other "non-standard" investment options people have used.

thanks!

lascott

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Re: Other Investment Options at Strata
« Reply #1 on: August 16, 2019, 04:42:57 PM »
I'm using it with Wunder Capital (7.5%) but they are no longer allowing retail investors in (like LC scaled-back retail investors indirectly by limiting avail notes and info).

I have a ROTH IRA and was very disappointed in the low low interest that STRATA was giving for that cash. They didn't enlighten me with good options they know of besides TD.

However, they did point out that you can do the withdrawal electronically (fill out and sign). Since I was getting ready to take out some 'ROTH contributions' (not gains) anyway that worked perfectly.
https://www.stratatrust.com/resource-center/forms/ and then 'IRA Distribution Request'.
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jameslend

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Re: Other Investment Options at Strata
« Reply #2 on: August 19, 2019, 03:09:59 PM »
Hi,

Yeah I think I read your post about wunder capital. Yeah their website only mentions institutional investors now.

The withdraws from Strata are charged at $100 a pop though right? Might have a stream of cash coming in.

I was hoping to invest in other services, buffer up a bit and then withdraw in bulk.

I think they also have a precious metals offering as well.


lascott

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Re: Other Investment Options at Strata
« Reply #3 on: August 19, 2019, 07:42:15 PM »
Hi,
Yeah I think I read your post about wunder capital. Yeah their website only mentions institutional investors now.
The withdraws from Strata are charged at $100 a pop though right?
No charge for ACH withdrawal.  Fees: https://www.stratatrust.com/resource-center/fees/  FYI old fee documents explicitly said ACH monthly or quarterly. No longer. I was not charged anything recently. I had called and verified. Handy to fill it out online and electronically sign it.
« Last Edit: August 19, 2019, 07:44:00 PM by lascott »
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jameslend

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Re: Other Investment Options at Strata
« Reply #4 on: August 20, 2019, 03:45:58 PM »
Hi,
Yeah I think I read your post about wunder capital. Yeah their website only mentions institutional investors now.
The withdraws from Strata are charged at $100 a pop though right?
No charge for ACH withdrawal.  Fees: https://www.stratatrust.com/resource-center/fees/  FYI old fee documents explicitly said ACH monthly or quarterly. No longer. I was not charged anything recently. I had called and verified. Handy to fill it out online and electronically sign it.

Oh I'm sorry you were taking out contributions. I was thinking about IRA to IRA transfer. Which I think in the form you linked is categorized as a partial termination ($100).

Debt Free

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Re: Other Investment Options at Strata
« Reply #5 on: August 20, 2019, 05:43:13 PM »
Direct transferred 99% of my SEP out of Strata for a $25 fee.  I have $200 across 15 notes remaining that the Folio platform will not list under "browse" feature for some reason for the past six months.  LC said they'd waive the $100 fee (due last month), but then I got an email from them stating that they are waiving it until September only.  A bit frustrating in that the Folio platform has bugs in it preventing me from selling off the remainder.

lascott

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Re: Other Investment Options at Strata
« Reply #6 on: August 21, 2019, 03:20:41 PM »
Hi,
Yeah I think I read your post about wunder capital. Yeah their website only mentions institutional investors now.
The withdraws from Strata are charged at $100 a pop though right?
No charge for ACH withdrawal.  Fees: https://www.stratatrust.com/resource-center/fees/  FYI old fee documents explicitly said ACH monthly or quarterly. No longer. I was not charged anything recently. I had called and verified. Handy to fill it out online and electronically sign it.

Oh I'm sorry you were taking out contributions. I was thinking about IRA to IRA transfer. Which I think in the form you linked is categorized as a partial termination ($100).
While I think it is simpler/safer to do a direct custodian to custodian transfer it would seem you could ACH withdraw the money and within 60 days put it in another IRA.

Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y

jameslend

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Re: Other Investment Options at Strata
« Reply #7 on: August 22, 2019, 01:08:39 AM »
Hi,
Yeah I think I read your post about wunder capital. Yeah their website only mentions institutional investors now.
The withdraws from Strata are charged at $100 a pop though right?
No charge for ACH withdrawal.  Fees: https://www.stratatrust.com/resource-center/fees/  FYI old fee documents explicitly said ACH monthly or quarterly. No longer. I was not charged anything recently. I had called and verified. Handy to fill it out online and electronically sign it.

Oh I'm sorry you were taking out contributions. I was thinking about IRA to IRA transfer. Which I think in the form you linked is categorized as a partial termination ($100).
While I think it is simpler/safer to do a direct custodian to custodian transfer it would seem you could ACH withdraw the money and within 60 days put it in another IRA.



Ah true. Although you are only allowed one of these per year right?

Debt Free

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Re: Other Investment Options at Strata
« Reply #8 on: August 22, 2019, 02:36:47 AM »
That is correct.  One "rollover" per year.  Thus my direct transfer for my first.  I finally gave up waiting and transferred the majority of my cash.  Was hoping that I would be able to liquidate everything prior to annual renewal (even though it was waived) and "roll it over" as I did with another IRA last year, but the issues with Folio prevented that.

Now I'm faced with having to convert the remainder to taxable and take the 10% hit unless Folio fixes the listing issues within the next year.

Reginald

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Re: Other Investment Options at Strata
« Reply #9 on: August 22, 2019, 12:34:09 PM »
A rollover is not the same as a Transfer. You can make multiple transfers into and out of a Strata Account IRA, as long as the type of IRA doesnt change. Institution to Institution transfers, are simpler and do not involve them cutting a check and sending it to you.  - Contact the recipient institution and fill out the paperwork there. Its an ugly process, and takes a week or so to settle. I advise doing it no more than once a year unless you are desperately in need of it in the other IRA account.

If you "withdraw" from your Lending club account (Under the Transfer Tab menu), it moves money into Strata and out of LC, however its still part of the same IRA account at Strata. From the IRS point of view nothing has happened. At this point the money sits there and earns bank interest. Something like .02%/yr. Once you have enough money in the Strata account to transfer to your other IRA (eg., Schwab IRA) you can initiate the transfer from there (eg. Schwab). This is still not a taxable event. Do not rollover, transfer.

I believe Strata charges $25 or so per transfer. So fewer is better. Once the account value goes below a threshold like $10,000 the annual fee, which is normally paid by LC to Strata, has to be paid as well.

Seems that when you get down to something like $200, its all work and very little upside. Strata wins in the end with the annual fees and transfer fees.

Does anyone know if they have an account closing procedure too? Hopefully its not as arcane. All in all its a real drag trying to get your IRA money out of Strata and back to where it's fairly liquid again.  Strata has been an experience I wish I never had.

Thanks for starting this thread.  I wish that Strata would list the names of the companies they work with. I would rather stick some of that money into something like Gold or Silver bullion.

Good Luck everyone.
« Last Edit: August 22, 2019, 12:42:43 PM by Reginald »

jameslend

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Re: Other Investment Options at Strata
« Reply #10 on: August 23, 2019, 02:30:35 PM »
A rollover is not the same as a Transfer. You can make multiple transfers into and out of a Strata Account IRA, as long as the type of IRA doesnt change. Institution to Institution transfers, are simpler and do not involve them cutting a check and sending it to you.  - Contact the recipient institution and fill out the paperwork there. Its an ugly process, and takes a week or so to settle. I advise doing it no more than once a year unless you are desperately in need of it in the other IRA account.
Good Luck everyone.

Yes transfer would be ideal, rather not deal with a 1099R.

If you "withdraw" from your Lending club account (Under the Transfer Tab menu), it moves money into Strata and out of LC, however its still part of the same IRA account at Strata. From the IRS point of view nothing has happened. At this point the money sits there and earns bank interest.

Yes I think we're all doing this with the idle cash. But we don't want to "build it up", we want to move it out ASAP.

I believe Strata charges $25 or so per transfer. So fewer is better. Once the account value goes below a threshold like $10,000 the annual fee, which is normally paid by LC to Strata, has to be paid as well.

Seems that when you get down to something like $200, its all work and very little upside. Strata wins in the end with the annual fees and transfer fees.

Does anyone know if they have an account closing procedure too? Hopefully its not as arcane. All in all its a real drag trying to get your IRA money out of Strata and back to where it's fairly liquid again.  Strata has been an experience I wish I never had.

Thanks for starting this thread.  I wish that Strata would list the names of the companies they work with. I would rather stick some of that money into something like Gold or Silver bullion.

Good Luck everyone.


Are you saying Strata allows ACH pulls? If that's true that may be an option. I don't there is a fee as lascott mentioned.

RE: account closing a few people have talked about it I think, trying searching for it. I think you just send a form. Not too bad I think, it's a one time thing.

I actually called Strata and they wouldn't even provide me a list of their partners. Apparently they were afraid of a lawsuit if I took "their advice".

mark78

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Re: Other Investment Options at Strata
« Reply #11 on: August 30, 2019, 07:49:16 PM »

I was wondering what other "non-standard" investment options people have used.

thanks!

PeerStreet is one option. Sortis Income Fund is another, if you’re accredited.

jameslend

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Re: Other Investment Options at Strata
« Reply #12 on: September 03, 2019, 03:17:39 PM »

I was wondering what other "non-standard" investment options people have used.

thanks!

PeerStreet is one option. Sortis Income Fund is another, if you’re accredited.

Good stuff!

Fred93

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Re: Other Investment Options at Strata
« Reply #13 on: September 03, 2019, 03:21:47 PM »
I actually called Strata and they wouldn't even provide me a list of their partners. Apparently they were afraid of a lawsuit if I took "their advice".

Oh man!  These are strange people.

Strata: Invest with us!  There are many options.
Investor: Ok, what are the options?
Strata: We can't tell you.  Its a secret.
Investor: Ok, but how do I find out what I can invest in?
Strata: Dunno.  Think of it like a scavenger hunt.
Investor: Can I get my money back from you?
Strata: Sure... after several lost faxes and follow up phone calls we will eventually transfer money out.  Oh, and there's a fee for that.

jameslend

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Re: Other Investment Options at Strata
« Reply #14 on: September 03, 2019, 10:16:35 PM »
I actually called Strata and they wouldn't even provide me a list of their partners. Apparently they were afraid of a lawsuit if I took "their advice".

Oh man!  These are strange people.

Strata: Invest with us!  There are many options.
Investor: Ok, what are the options?
Strata: We can't tell you.  Its a secret.
Investor: Ok, but how do I find out what I can invest in?
Strata: Dunno.  Think of it like a scavenger hunt.
Investor: Can I get my money back from you?
Strata: Sure... after several lost faxes and follow up phone calls we will eventually transfer money out.  Oh, and there's a fee for that.

LOL. Pretty much how it went down.