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Author Topic: Other Investment Options at Strata

j
  • Posts: 12
Other Investment Options at Strata
OP: August 15, 2019, 11:00:00 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!
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l
  • Posts: 322
Other Investment Options at Strata
#1: August 15, 2019, 11:00:00 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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T
  • Posts: 6588
Other Investment Options at Strata
#2: August 18, 2019, 11:00:00 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.

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D
  • Posts: 67
Other Investment Options at Strata
#5: August 19, 2019, 11:00:00 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.
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T
  • Posts: 6588
Other Investment Options at Strata
#8: August 21, 2019, 11:00:00 PM
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.
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R
  • Posts: 23
Other Investment Options at Strata
#9: August 21, 2019, 11:00:00 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.
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